Real Estate Investment
An investor can become a citizen of Antigua and Barbuda by investing a minimum amount of US $400,000 in real estate property in the country. The investment must be made in
designated and officially-approved real estate in order for the investor to become eligible to apply for citizenship under the real estate option.
Joint Investment : Two or more applicants may apply jointly for citizenship under investment in real estate option provided each applicant has contributed a minimum investment of $400,000. The applicants can execute a binding sale and purchase agreement jointly and apply for citizenship jointly 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 nonprofit company.
- The nonprofit company has issued all of its authorized shares to the applicant or applicants.
- The nonprofit company is established under the laws of Antigua and Barbuda and is in the good standing of the country’s laws.
- The company is not exempt or offshore entity.
- The company submits irrefutable proof regarding the beneficial ownership by the applicant. The proof or evidence should 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 is not permitted to sell or otherwise dispose of the real estate so purchased 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 designated and approved by the government and is permissible investment for the purpose of acquisition of citizenship by investment in Antigua and Barbuda.
Application Process Under Real Estate Investment Option :
- The investor can apply for citizenship to the citizenship by investment unit only after a binding purchase and sale agreement has been signed and finalized with the developer of the designated and government approved project. The agreement can be subject to the granting of the citizenship application.
- Submission of the completed application form along with necessary documents should be accompanied by payment of requisite due diligence fees and 10% of the total government processing fee. The application shall be processed and verified by the agency implementing the program.
- The Citizenship by Investment Unit shall verify the application form and convey the approval, rejection, or continuation of processing due to delay within three months of the submission of the application.
- Upon approval, the Unit shall issue a Letter of Approval along with instructions for payment of all pending government processing fees, and all other payments due 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 up on such payment.
- 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 the contribution amount, the Certificate of Registration of Citizenship will be issued for the applicant and all eligible dependents.
- Along with the application and other essential documents, the Certificate should be submitted for processing of the passport issued by the Government 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 to complete this requirement.
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