Migration, Residency & Citizenship

    Antigua & Barbuda Increases Minimum Investment Requirements For Citizenship By Investment Program

The Citizenship by Investment Unit (CIU) of Antigua & Barbuda has officially announced significant amendments to the investment thresholds for its Citizenship by Investment (CBI) program. The changes, pending parliamentary approval, are set to take effect by the end of July 2024 and reflect the government’s commitment to enhancing the program’s value and integrity per the Memorandum of Agreement (MoA) signed by five Caribbean countries

Increased Investment Thresholds

According to the latest memorandum issued by Charmaine Donovan, the Chief Executive Officer of the CIU, the proposed amendments to the investment thresholds are as follows:

  • National Development Fund (NDF)
    • For a family of 1 to 4, the minimum investment will be increased to US$230,000.
    • For a family of 5 or more, the minimum investment will be US$245,000.
  • University of the West Indies (UWI) Fund
    • The minimum investment will be set at US$300,000.
  • Real Estate Investment
    • The minimum investment threshold will be raised to US$325,000.
  • Investment in Business
    • The investment thresholds for business investments remain unchanged: In the case of a single applicant, the minimum investment in an approved business is US$ 1,5 million, and in the case of joint investment – at least US$400,000. However, the total budget of an approved business project must be at least US$ 5 million.

Additionally, the processing fees will remain at US$30,000 for a single applicant up to a family of four, and for a family of 5 or more, the processing fees have been reduced to US$10,000 for each additional dependent, except for the UWI option, where the processing fees are included in the investment amount.

Enhanced Documentary Requirements

Alongside the increased investment thresholds, the CIU has provided comprehensive guidelines on the documentation necessary to initiate a CBI application. These guidelines are designed to ensure a streamlined and transparent process for applicants and agents alike.

The following list is the minimum documentary requirements for E-filing through the Agent’s portal:

  • Forms: Fully completed and duly signed Forms AB1 to 5.
  • Identification: Two forms of identification, including copies of the passport biographical page and another government-issued picture ID.
  • Birth Certificates: Copies of birth certificates.
  • Visas: Copies of all valid visas held.
  • Address Verification through issued utility bills within the last 3 months, signed lease agreement, or documents of title.
  • Source of Income Verification: For employees – Letter of employment and pay slips for the last 3 months, and online bank statements for the last 12 months showing salary credits and sufficient balance. For self-employed individuals – Share certificate, letter/certificate of good standing, recent financial statement, bank statements for the last 12 months, and a board decision if funds are paid by a company.
  • Net Worth Confirmation:
    • Bank holdings: Most recent 12 months online bank statements.
    • Investment holdings: Most recent investment account statement (issued within the last 6 months).
    • Real estate: Documents of title and/or recent valuation.
    • Business assets: Financial statements, recent share register, and confirmation of active status.
    • Other assets: Appropriate documentary evidence.
  • Affidavit of Consent: From parents of minors where a parent is not included on the application, along with a government-issued picture ID of the parent.
  • Investment Agreements: For real estate and business investment applications.
  • Third-Party Funds:
    • Introductory letter stating the relationship between the remitter and the applicant.
    • Copy of the remitter’s passport bio page and proof of income.
    • Incorporation documents and most recent annual company returns if the remitter is a corporate entity.

Physical Documentation Submission

Within 21 days of the electronic upload of an application, the following additional physical documents must be submitted:

  • Certified colored copies (or apostilles where applicable) of machine-readable ID documents.
  • Fully completed and duly signed passport forms
  • Bank reference letter for the account identified in the application form, issued by an internationally recognized bank.
  • Professional reference (e.g., from an attorney, notary public, or chartered accountant) not older than 6 months.
  • Sworn affidavit of support for each dependent over 18 years of age.
  • Eight original passport-size color photos taken within the past six months.
  • Original excerpt of full birth record or certified copy of the full birth certificate.
  • Original police certificate from any country where the applicant has lived for more than 6 months.
  • Certified copy of proof of name change (if applicable).
  • Original excerpt of marriage record or certified copy of the marriage certificate.
  • Certified copy of divorce documents (if applicable).
  • Any additional documents requested in support of the application.

These new measures underscore Antigua & Barbuda’s commitment to maintaining the highest standards in its CBI program and implementing provisions agreed in the MoA. By increasing the investment thresholds and clarifying the documentation requirements, the CIU aims to address international concerns and at the same time attract high-caliber investors while ensuring a robust and transparent application process.

To Top