Covid-19 and Brexit may have conspired to scupper globe-trotters’ dreams of working abroad or escaping long-term to dreamier climes, but one Caribbean nation has taken steps to make it easier…
Lead image: Barbuda’s pink sand (photo: Antigua and Barbuda Tourism Authority)
Recent events have caused increased anxiety and uncertainty for travellers, ultra-high net worth individuals (UHNWI) and investors.
As more people seek to secure their freedom of movement, a growing trend among UHNWI has been to seek citizenship through investment.
The islands of Antigua and Barbuda, with their beautiful beaches and pink sands, are a popular destination for tourists and business travellers alike.
The Caribbean nation offers a Citizenship by Investment programme (CIP), which allows UHNWI to acquire citizenship by contributing to economic growth, and Nomad Digital Residency (NDR), which offers the opportunity to live and work in Antigua and Barbuda for up to two years.
To make the process even easier, Antigua and Barbuda has recently launched its official business hub, AntiguaBarbuda.com, the first of its kind in the region. The hub provides travellers and investors with easy-to-use resources and information.
Why Antigua and Barbuda is attracting top investors
Easing concerns about the global pandemic, Prime Minister Gaston Browne said: ‘Antigua and Barbuda is in a unique position to offer the NDR programme because, with our very low fatalities from COVID-19, very small number of active cases and our effective system of containing community spread, our country is one of the safest environments in the world.’
In addition, with his vast experience in global diplomatic and legal laws, His Excellency Ambassador Dario Item, Antigua and Barbuda’s ambassador to Spain, Liechtenstein and Monaco, knows the importance of global mobility.
Antigua and Barbuda has been on the radar of investment firms due to its growing potential. The country, already known as a global tourist destination, is being explored by those who like to do business worldwide, without being limited by their nationality.
Through Antigua and Barbuda CIP, qualified foreign investors may be granted a passport and, once a citizen of the dual-state, have access to all benefits of the country.
As the importance of global trade continues to grow, a second citizenship is no longer a ‘nice accessory’, but a necessity among the super-rich. And with its welcoming and progressive policies, Antigua and Barbuda is becoming a top choice for those who wish to invest in their future.
The benefits of becoming an Antigua and Barbuda resident or citizen
The Caribbean country is recognized as the jewel of the West Indies and benefits from its multiple international alliances. The passport is one of the most powerful in the world and allows visa-free travel to over 150 countries. Among them are the UK and EU Schengen Area.
The mounting post-Brexit worry made many British citizens seek to secure access to the European Union as part of their business contingency plans. As a result, Antigua and Barbuda citizenship continues to be the most sought-after among wealthy individuals.
Additionally, the vast visa-waiver agreements the country has with many other countries is also an important factor which persuades potential investors, as well as the beautiful locations it has to offer.
The tourism industry in Antigua and Barbuda has been severely impacted by the pandemic, but the beauty of the islands has endured and the government efforts to restore healthcare and security have been remarkably successful.
The Nomad Digital Residency programme paves the way for a tourism boom in the coming months, enabling tourists and their dependents to stay in the country for two years.
How to become an Antigua and Barbuda resident or citizen
His Excellency Ambassador Dr Dario Item shared that the CIP is committed to welcoming high-impact investors who wish to contribute to the growth of the nation’s economy.
The government has made sure that the programme is streamlined, and that due diligence processes are in place to ensure the programme is fair and in accordance with its goals.
Those who wish to become citizens have several options, for example:
- Contributions to the National Development Fund – a family of up-to four can invest a minimum of $100,000, while a family of five is required to contribute at least $125,000.
- A $400,000 investment in a government-approved real estate project, which the investor must hold on to it for a minimum of five years. A joint investment between two related parties is also possible as long as each individual contributes a minimum of $200,000.
Imagine spending time in a tropical paradise, witnessing the beautiful shores, and taking in the exciting outdoor and marine activities, such as parades, regattas and luxury tours. All while seeing your real estate investments pay off.
Both the NDR programme and CIP provide a win-win for both the state, which gets an economic boost, and tourists/investors, who get to experience a unique culture in a beautiful environment.