Real Estate Investment
An investor can become a citizen of Antigua and Barbuda by investing a minimum of US $400,000 in real estate property in the country. The investment must be made in designated and government-sanctioned real estate in order for the investor to become eligible to apply for citizenship.
Joint Investment: Two or more applicants may apply jointly for citizenship under the real estate investment option provided each applicant has contributed a minimum investment of $400,000. The applicants can jointly execute a binding sale and purchase agreement and jointly apply for citizenship as long as the minimum investment requirement has been met.
Beneficial ownership of real estate is permissible under the real estate investment option as long as the following conditions are fulfilled:
- The investment is made through a non-profit company.
- The non-profit company has issued all of its authorized shares to the applicant or applicants.
- The non-profit company is established under the laws of Antigua and Barbuda and is in good legal standing.
- The company is not an exempt or offshore entity.
- The company submits irrefutable proof regarding the beneficial ownership of the applicant. The proof or evidence must be certified by the Registrar of Companies.
The processing of the application depends on the nature of the property that is being purchased.
The applicant must maintain ownership of the real estate for a period of five years. However, the applicant can sell the property if he or she is purchasing an alternate real estate property that is approved by the government as a permissible investment for the purpose of acquiring citizenship by investment in Antigua and Barbuda.
Application Process Under the Real Estate Investment Option :
- An investor can apply for citizenship only after a binding purchase and sale agreement has been signed and finalized with the developer of the government-approved project. The agreement may be subject to the granting of the citizenship application.
- Submission of the completed application form along with all required documents must be accompanied by payment of requisite due diligence fees and 10% of the total government processing fee. The application will then be processed and verified by the agency implementing the program.
- Within three months of the submission of the application, the Citizenship by Investment Unit shall verify the application form and convey a notice of approval, rejection, or continuation of processing due to delay.
- Upon approval, the relevant authority shall issue a Letter of Approval along with instructions for payment of all pending government processing fees, and all other payments owed to the developer under the real estate agreement. The investor will become eligible to have the title of the real estate property registered in his or her name upon completion of the real estate payments.
- Upon proof of clearance of all pending payments, the Citizenship by Investment Unit shall approve the real estate investment and permit the implementation of the project in accordance with established guidelines.
- Upon submission of proof of payment of all necessary fees and real estate payments, a Certificate of Registration of Citizenship will be issued for the applicant and all eligible dependents.
- Along with the application and all other required documents, the Certificate will be required in order to obtain a passport of Antigua and Barbuda
- The applicant will be required to take the oath or affirmation of allegiance upon his or her first visit to Antigua and Barbuda. Alternatively, the investor can visit an embassy, high commission, or Consular Office in his/her country of residence to complete this requirement.
The application procedure for acquiring citizenship in Antigua & Barbuda varies depending on the form of investment chosen by the investor.
Click here for an overview of Antigua and Barbuda government policies concerning investment immigration and detailed information on the formalities and procedures to be completed by an immigrant during the application process.General Information: Contact us to receive more information about this article.
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