In general, obtaining a second passport can be a complex and lengthy process. However, with citizenship by investment programs, it has become easier to obtain a passport in a short period of time, sometimes even less than 2 months.
Antigua and Barbuda's citizenship by investment program is one of the fastest in the world, providing individuals and families with the opportunity to obtain a second passport while investing in real estate. In this blog post, I will explain how investing in real estate in Antigua and Barbuda can help you qualify for citizenship and a passport.
What is citizenship by investment?
If you landed on this website, you probably already know what citizenship by investment programs are. CBI programs allow individuals to obtain a second passport by investing in a country's economy. Such programs are great mechanisms, used by individuals who travel frequently, have business interests in multiple countries, want to add additional security and have a plan B, or want to diversify their investment and passport portfolios. Citizenship programs provide a win-win scenario for both the investor and the country, as the investor obtains a second passport while the country receives funds for the development of its critical infrastructure.
Overview of Antigua and Barbuda's citizenship by investment program
Antigua and Barbuda's citizenship by investment program is one of the strongest in the Caribbean community. It was established in 2013 and has been successful in attracting investors from all over the world. The program provides individuals with the opportunity to obtain a second passport by investing in real estate or making a donation to the country's non-profit National Development Fund. There is also an excellent, cost-effective option for large families (6 members or more) to get additional citizenship by donating to the University of the West Indies.
Why Antigua and Barbuda?
While there are several other Caribbean nations that offer second passports via citizenship by investment programs, such as Saint Kitts and Nevis, Grenada, Dominica, and Saint Lucia, Antigua has some significant advantages:
- It is well connected via direct flights to the Caribbean region, North America, and Europe
- Ranked 5th in the Caribbean in the World Bank’s Ease of Doing Business Report
- Internet coverage in Antigua and Barbuda was 76% in 2022
- The average life expectancy is 77 years. The island has a fairly low crime rate
- It is also known for its fine dining options, year-round entertainment, and sporting events
- It is one of the most popular places for yachting in the Caribbean, with marine infrastructure and services designed to accommodate super yachts.
Requirements and eligibility for Antigua and Barbuda citizenship by investment program
Eligibility requirements for Antigua and Barbuda's citizenship by investment program are standard and include the following: applicants must be at least 18 years old, have no criminal record, and have a minimum net worth of $400,000. Applicants can choose to invest in real estate or make a donation to the country's National Development Fund. The investment must be maintained for a minimum of five years.
Overview of Antigua and Barbuda's Passport and Real Estate Investment Options
There are several real estate investment options available for citizenship by investment in Antigua and Barbuda. Investors can choose to invest in luxury villas, condos, or resort properties. The investment must be at least $200,000; it must be pre-approved by the government; and the ownership must be maintained for a minimum of five years. A real estate investment provides investors with the opportunity to earn income from hotel or resort operations and potential capital appreciation of their ownership share.
Among real estate investment options, it is important to know what properties are approved by the government for the Citizenship by Investment program if you want to qualify for citizenship and be eligible to apply for a passport.
The types of real estate within the scope of the program vary depending on the ownership structure and tenure. One of the popular options across Caribbean islands with Citizenship by Investment (CIP) programs is fractional ownership in hotels. This option allows multiple owners to share the property and its amenities, each owning a fraction of the property. This option is structured more like a financial trust, where you still own a fractional share of the property, you still get citizenship, and you can also sell your ownership share once the holding period expires. For some of the projects, you have the right to stay in the properties of the developer for up to seven days a year for free and get a profit share from hotel operations. So from that perspective, it is a triple-win situation for the investor, the developer, and the island.
Another option that is available on Antigua is freehold title properties, by which the owner of the freehold title owns it in perpetuity. This means they have complete ownership and control over the property, including the land it sits on in the case of a villa. The minimum holding period of 5 years still applies, and this route to citizenship will require a larger budget.
Both options have their benefits and drawbacks, and it's important to consider them carefully before investing in any real estate option. For the list of available properties, please inquire within.
A step-by-step guide to obtaining a passport in Antigua and Barbuda
To obtain a passport in Antigua and Barbuda, investors must follow these steps:
- Choose a reliable firm or consulting agency focused on Caribbean citizenship by investment programs and second passports as its core business: to assist you with the required documents, due diligence, background check, and application process in general.
- Submit application: The firm or consulting agency will submit the application form along with the required documents, such as a passport copy, a no criminal record certificate, a medical certificate, etc.
- Pay application fees: The applicant must pay the application fees, which vary depending on the type of investment chosen.
- Invest in real estate or make a donation: The applicant must either invest in real estate approved by the CIU or make a donation to the country's National Development Fund after approval in principle is granted.
- Obtain citizenship: Once the application is approved, the applicant will receive a citizenship certificate and a passport.
Conclusion and final thoughts
Obtaining a second passport is an important decision that requires careful consideration. Antigua and Barbuda's citizenship by investment program provides investors with the opportunity to obtain a second passport while investing in real estate. The program is one of the best in the Caribbean community, providing visa-free access to over 150 countries. This multi-island nation is also cryptocurrency friendly, with developed marine infrastructure and one of the largest airstrips in the Caribbean. It is also well known for its offshore banking. If you are considering getting an additional passport and citizenship, please reach out to us for expert advice.