Antigua and Barbuda announced a memorandum outlining the mechanism for implementing the price increase decision, which was signed with three Caribbean islands offering citizenship by investment programs on March 20, 2024. The updates also clarify important changes related to application procedures and required documents.
Latest Updates in the Antigua and Barbuda Memorandum:
Delay in Raising the Minimum Investment: The agreement to raise the minimum investment to $200,000 by June 30, 2024, has been delayed due to awaiting parliamentary approval. Antigua and Barbuda expects to receive approval within 30 days.
Minimum Acceptable Documentation for Electronic Filing: The memorandum specifies the minimum documents required for a complete application submission through the Agent’s Portal. These documents include forms, identity proof, financial statements, and proof of address.
Submission of Physical Documents: Physical copies of documents and additional items such as certified copies, bank reference letters, and police certificates must be submitted within 21 days of uploading the electronic application.
Application Processing: Applications will be processed in the order they are received with complete physical documents and fees.
New Amendments to Minimum Investment in Antigua and Barbuda:
- National Development Fund (NDF):
For a family of 1 to 4, the minimum investment will be $230,000.
For a family of 5 or more, the minimum investment will be $245,000. - University of the West Indies (UWI): The minimum investment will be $300,000.
- Real Estate: The minimum investment will be $325,000.
- Due Diligence Fees: The due diligence fees remain unchanged for most applications, except for a reduction for families of 5 or more under the NDF program
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