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.
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.