Antigua & Barbuda CIP Announces New Prices and Dependent-Definitions

The Antigua & Barbuda Citizenship by Investment Unit (CIU) has announced amendments to its Citizenship by Investment Program (CIP) regulations, set to take effect on August 1, 2024.

The changes, outlined in a memo issued by the CIU’s CEO, Charmaine Donovan, include modifications to the definition of dependents, the designation of an alternate main applicant, and revised minimum investment thresholds and fees.

The amendments come as part of a Memorandum of Agreement (MoA) executed by five heads of government of the Organization of Eastern Caribbean States (OECS) territories operating CIPs.

The MoA initially aimed to implement a minimum investment threshold of US$200,000 by June 30, but Antigua & Barbuda requested an additional 30 days to complete the necessary parliamentary approval process.

Under the revised regulations:

• The amendment has expanded the definition of a dependent child to include biological or legally adopted children of the main applicant or their spouse up to 30 years of age.
• It removes the requirement for dependent children to prove financial dependence.
• The legislation now allows for the addition of a spouse of a dependent who marries after the application is approved, provided the dependent is not older than thirty-five (35) years of age at the time of applying to add the spouse of the dependent.

The amended regulations also introduce the option for a main applicant to designate an alternate main applicant at the time of application. The alternate must be at least 18 years old and have the authority to act on behalf of the main applicant in case of the main applicant’s death or incapacitation.

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)

The new legislation also revises processing, due diligence, and other fees:

Initial submission fees:

• Single applicant: US$10,000
• Family of up to four: US$20,000
• Family of more than four: US$20,000 plus US$10,000 per additional member

Post-approval addition fees:

• Dependent child up to five years: US$10,000
• Dependent child aged 6-17 years: US$25,000
• Dependent aged 18 years and older: US$50,000

Due diligence fees:

• Single applicant: US$8,500
• Spouse: US$5,000
• Dependent child up to 11 years: Free
• Dependent child aged 12-17 years: US$2,000
• Dependent aged 18 years and older: US$4,000

While the revised minimum investment thresholds for Antigua & Barbuda's CIP are higher than the initially proposed US$200,000, they remain lower than those announced in the CIU's June 27 memo.

The NDF option, for example, was previously proposed at US$230,000 for a family of four and US$245,000 for a family of five or more. Similarly, the UWI Fund/Higher Education option was initially US$300,000, and the Real Estate option was US$325,000.

Antigua & Barbuda's 30-day postponement resulted from the country's legal process. Parliament needed to approve the new legislation, which was not ready on July 1.

While the reason for the delay was legislative, it did give Antigua & Barbuda time to assess the new price framework in the region, and the country may have adapted its prices accordingly.