Antigua PM to IMI in Davos: CIP to Accept RMB Payments “Within 30 Days”

Asked to comment on a bill passed in Antigua & Barbuda’s parliament this summer, which opened for the payment of investments under the CIP by way of euros and cryptocurrencies, PM Browne noted that interest in alternative payment methods had not been significant, a state of affairs he attributed to a lack of awareness of the option.

“So far, in terms of payments by cryptocurrency, the activity has been minimal, and I think it’s because the information about it has not been spread that widely as yet. But, when more people become aware that we accept payments in cryptocurrencies, I’m pretty sure that the demand for that will increase,” the PM posited.

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But the Antigua & Barbuda CIP isn’t stopping at euros and cryptocurrencies; the PM has plans to extend the available payment methods in a way that is certain to be welcomed by the program’s largest constituent.

“We continue to find ways and means to make our program more attractive and to provide investors with payment mechanisms that are easy. One of the things that we’ll be doing shortly – I would say within the next 30 days – is that we’ll be broadening to program to accept renminbi, so that our Chinese investors, in particular, can more easily make payments,” said Browne.

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Chinese applicants, explained the PM, account for up to 60% of program participants, “so if we can provide them with additional payment mechanisms such as in RMB or cryptocurrencies then, evidently, the program becomes more attractive”.

The full interview with Prime Minister Browne will be published later this week.