In a circular distributed to its stakeholders this week, the Antigua & Barbuda Citizenship by Investment Programme (ABCIP) has outlined a new fee structure for its University of the West Indies (UWI) Fund option, making it significantly cheaper for large families.
Until this week, the following schedule of fees had applied:
- A family of up to four required a contribution of US$150,000 and processing fees of US$30,000;
- A family of more than four required a lower contribution of US$125,000 but with an additional processing fee of US$15,000 for each additional family member beyond the four, in addition to the US$30,000 processing fee for the first four members.
The cost for a family of six, under the previous rules (not counting due diligence fees, which remain unchanged), would therefore amount to US$185,000 (US$125,000 + US$30,000 + US$15,000 + US$15,000).
Families of six or more members will henceforth see their overall expenditure reduced.
- A family of six will contribute US$150,000 to the UWI fund and effectively see their processing fee waived.
- For each additional family member beyond the sixth, an additional US$15,000 in processing fees are required.
For a family of six or more, in other words, the UWI Fund option is now US$35,000 cheaper than it was last week.
Agent commissions remain unchanged, at 20% of the contribution amount, and the contribution still entitles one member of the family to a one-year, tuition-only scholarship to the University of the West Indies.
Want to know more about the Antigua & Barbuda CIP? To see recent articles, statistics, properties, and more, visit its Program Page. To see which firms can assist with applications to the program, visit the Residence & Citizenship by Investment Company Directory.