What are the Significant Changes with Antigua Barbuda CIP New Prices and Dependent Regulations?

The Citizenship by Investment Unit (CIU) of Antigua & Barbuda has announced changes to its Citizenship by Investment Program (CIP) regulations, effective August 1, 2024. These changes, outlined in a memo by CIU CEO Charmaine Donovan and signed by five heads of government of the Organization of Eastern Caribbean States (OECS) territories operating CIPs, reflect the latest update where Antigua Barbuda CIP announces new prices and dependent details.

What Are the Key Changes in Antigua Barbuda CIP’s New Prices and Dependent Criteria?

Key changes include:

Expanded definition of dependent children to include biological or legally adopted children of the main applicant or their spouse up to 30 years of age, without the need to prove financial dependence.

• Addition of a spouse of a dependent who marries after the application is approved, provided the dependent is not older than 35 years at the time of applying.
• Introduction of an option for the main applicant to designate an alternate main applicant, who must be at least 18 years old and have the authority to act on behalf of the main applicant in case of death or incapacitation.

Revised minimum investment thresholds:

• Real Estate Investment: US$300,000
• University of the West Indies (UWI) Fund/Higher Education: US$260,000 (inclusive of processing fees)
• National Development Fund (NDF): US$230,000
• Investment in Business: Unchanged (US$1.5m for sole applicants or US$400,000 from a total of US$5m if part of a joint venture)

Adjusted processing, due diligence, and other fees for initial submissions, post-approval additions, and due diligence based on the number and age of applicants and dependents.

Although Antigua & Barbuda's revised minimum investment thresholds are higher than the initially proposed US$200,000 in the MoA, they are lower than those announced in the CIU's June 27 memo. The 30-day postponement in implementing the changes allowed the country to assess the new price framework in the region and adapt its prices accordingly.

The amendments to Antigua & Barbuda's CIP regulations aim to maintain the program's competitiveness while aligning with the regional standards set by the OECS MoA.