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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After having banned citizens of some countries from applying for its citizenship, who are Iraq, Afghanistan, Yemen, Sudan, Iran and North Korea, The state of Antigua & Barbuda gives Iraq an auspicious exception that would open the door to the second citizenship for Iraqis citizens on the 1st of April 2020, while the rest of the countries bans were conditionally cancelled.
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Türkiye’s Transition to The Electronic System E-Devlet
Türkiye’s transition to the Electronic system:
Day-after-day e-government services in Türkiye contribute to facilitating the daily lives and transactions of citizens and residents by saving time and efforts. These services vary between municipal services, ministries services, issues related to judicial cases, registration procedures for exams and universities, health and social insurance procedures. Besides, patients can obtain appointments at hospitals through the Internet, in addition to the possibility of applying for unemployment aids and applying for a passport.
Turkish Economy Exceeded Expectations
The Turkish economy delivered a performance that exceeded expectations last year and is forecast to post significant growth this year.
According to the Investment Office of the Presidency of the Turkish Republic, Türkiye has jumped up 10 places and ranked 33rd in the World Bank’s Doing Business 2020 report. It ranked 69th in 2017, 60th in 2018, and 43rd in the 2019 editions of this report.