Antigua and Barbuda has set an ambitious target of raising $200 million from its popular citizenship by investment program in 2016. The Acting CEO of the Citizenship by Investment Unit affirmed the country’s commitment to thorough due diligence and security checks.
He stated that the existing due diligence process will be tightened further due to the fragile global security environment. The Unit will verify the applicant’s antecedents and activities in all countries in which he or she lived for more than six months in the ten years preceding the application.
Currently, the background checks take around 30 days as the task is outsourced to specialized agencies that utilize offline and online resources throughout the process. Further, the completed due diligence process is verified by another independent agency before the application is approved.
The government plans to speed up the approval process without relaxing security norms or reducing the duration of due diligence through increased automation and reliance on technology.
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