In the face of tightening travel restrictions, many ultra-high net worth individuals are increasingly seeking the benefits of having a second passport. Antigua and Barbuda makes a good case because of its beauty, which makes it a popular destination for tourists and business travellers alike.
Antigua and Barbuda has recently launched its official business hub named AntiguaBarbuda.com – the first of its kind in the region which provides travellers and investors with the much needed information needed to make the right decisions.
The site provides easy to use, informative, and navigable resources which would have been useful for a lot of travellers and investors. It also provides a great overview of the country’s flagship residency and citizenship programmes, including Nomad Digital Residency (NDR) and the Citizenship by Investment programme (CIP). 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, has been proactively working together and supporting the ongoing efforts to restart the recovery of tourism in the country together with UNWTO Secretary-General Zurab Pololikashvili.
The recent global pandemic has caused increased anxiety and uncertainty for investors, which has increased the demand for second citizenships. A growing trend among the high net worth individuals has led to increased interest in citizenship through investment, as more and more people are seeking to secure their freedom of movement.
With so many individuals facing travel restrictions due to their citizenships, people are increasingly interested in the CIP of Antigua and Barbuda, which allows them not only to acquire second citizenships, but also contribute to the economic growth of the island.
Making headway and attracting top investors
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 international businesses and individuals who don’t like to be limited by their nationality, and like to do business worldwide.
Through Antigua and Barbuda’s CIP, qualified foreign investors may be granted a passport from the Island state. Once a citizen of the dual-state, one may then have access to all benefits of the country.
Once you learn about the numerous benefits of investing in the island, you will realise why it is becoming a growing trend among investors.
With second citizenship no longer a ‘nice accessory’, it has become a necessity among the super-rich. As a result, Antigua and Barbuda is becoming the choice of those who wish to invest in their future.
Antigua and Barbuda: premier destination for the ultra-rich
His Excellency Ambassador Dr. Dario Item shared that the CIP is committed to welcoming high-impact investors such as those who wish to contribute to the growth of the country’s economy.
The government has made sure that the programme is streamlined, and that due diligence processes are in place to ensure that the programme is fair and in accordance with its goals. Those who wish to become citizens have currently two options:
First is through contributions to the National Development Fund. A family of up to four can invest a minimum of US$100,000, however a family of five is required to contribute a minimum of US$125,000.
Second option is a US$400,000 investment in a government-approved real estate project. 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 US$200,000. Next is an investment worth US$6 million for an individual or US$10 million for a couple, with a condition that each member invests a minimum of US$400,000.
Benefits of becoming a resident or citizen
The Caribbean country is recognised as the jewel of the West Indies and it 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 that persuades potential investors, as well as the beautiful locations it has to offer.
Antigua and Barbuda was severely stunted because of 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 Residency programme paves the way for a tourism boom in the coming months. In fact, many tourists were thrilled to know the long-stay visa programme may enable them, and their dependents to stay in the country for two years.
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 these, while seeing your real estate investments pay off.
Investing into your future
It is not surprising why Antigua and Barbuda remains one of the premier tourist destinations for both investors and tourists alike. Its nomad residency programme and investment opportunities provides a win-win, balanced environment for both the state and those who wish to contribute to its economy. The influx of new investments and returning visitors boost the tourism industry and other related sectors, while investors enjoy amazing benefits and get to experience a unique culture at the same time.