Following a severe reduction in the volume of applications for Antiguan citizenship by investment under the National Development Fund contribution option, Prime Minister Gaston Browne announced in parliament yesterday that the program would lower the contribution requirement from its current US$200,000 to $100,000. A family of four will pay a contribution of US$100,000 as well as processing fees of US$25,000, with a further processing fee of US$15,000 for every additional applicant.
The Prime Minister said that during the last two months, a mere three applications had been lodged under the NDF option. Meanwhile, other Caribbean programs were thriving, Browne pointed out and said the 50% price cut was necessary to help fund the reconstruction of Barbuda, which has been left virtually uninhabitable after this season’s hurricanes.
The reduction brings Antigua’s price into line with its competitors Dominica ($100,000), Saint Lucia ($100,000) and Saint Kitts & Nevis ($150,000 for a single applicant, but as cheap as the others for families).
There is no word as yet as to whether Antigua will similarly discount the cost of additional applicants. The real estate and business investment options remain unchanged, at US$400,000 and US$1.5 million, respectively.
Most investors searching for alternative permanent residence are motivated beyond money, instead looking to invest in countries from a family, social and cultural perspective. Residence-by-investment programs can deliver the quality of life and security these individual seek.
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