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500 Passports Issued to Wealthy Investors under Antigua and Barbuda’s CIP

Antigua and Barbuda’s has issued more than 500 passports to wealthy investors under its popular citizenship-by-investment program. Introduced in 2013, the Citizenship by Investment Program offers Antiguan citizenship to investors making minimum investment of US$ 400,000 in a permitted asset class for a minimum period of five years and, to maintain citizenship, reside in Antigua and Barbuda for at least 35 days in five years.

The Program incorporates the following rules and norms designed to enhance the integrity and credibility of the due diligence process:

  • Citizens of Afghanistan, Somalia, Yemen, Iraq, North Korea, and citizens of Iranians residing in Iran are not permitted to apply.
  • Applicants who have changed their name are not permitted to apply under the investment immigration scheme.
  • Applicants with a criminal record or having past behavior that is not conducive to the Program’s integrity are not permitted to apply.
  • Upon approval, the investors must take an oath or affirm their allegiance at a Consulate, High Commission, or Embassy of Antigua and Barbuda before receiving their citizenship and passport.

The popularity of Antigua and Barbuda’s CIP has resulted in development of numerous properties and real-estate projects all over the country. Applicants are investing in holiday homes, commercial properties, and high-end residential real-estate projects.

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Source: opp.today.com