Immigrant Invest is often approached by entrepreneurs who conduct international business. They want to have foreign currency accounts in foreign banks in order to save their savings and speed up mutual settlements with foreign partners.
Commissions for transactions on an account that is opened on a Caribbean passport are lower in some banks than for transactions from accounts in banks in other countries.
Many entrepreneurs choose the Antigua and Barbuda citizenship program by investment. This is one of the least expensive programs as the minimum investment starts from $100,000.
Benefits of an Antigua and Barbuda second passport for entrepreneurs
- You can register a company on an Antigua and Barbuda passport. Through such a firm, it will be easier to cooperate with foreign partners, many of whom are wary of business from third countries, for example, because of the difficult geopolitical situation.
- The tax systems of the Caribbean countries, including Antigua and Barbuda, are focused on attracting foreign capital. Therefore, the country has favorable taxation conditions not only for individuals, but also for legal entities. For example, there is no tax on capital gains or dividends.
- You will be able to open bank accounts in the European Union or the USA. This will simplify foreign exchange settlements with counterparties and help protect savings from exchange rate fluctuations.
- You will travel without visas to more than 150 countries: visit enterprises and control business, make business meetings without wasting time on issuing invitations and visas.
- You will be able to register assets for a second passport or your company. For example, registering with a company can be beneficial if you are a yacht owner.
The program itself also has several advantages. When applying for a second citizenship in Antigua and Barbuda, you do not need to take exams or learnhe language. Registration takes 3-6 months.
Antigua and Barbuda allows all family members to be included in an investor’s application: a spouse, children under 30, parents, grandparents over 55, brothers and sisters. Children, parents, grandparents must be financially dependent on the investor. A child over 18 years of age must study at a university full-time, brothers and sisters must not be married.
Expenses under the Antigua and Barbuda citizenship program
Investors who participate in the Antigua and Barbuda program choose one of four investment options.
They can make a non-refundable contribution to the national fund. For a family of four, it is $100,000, for a family of five, more than $125,000. And you will have to pay a state fee of $30,000, depending on the composition of the family.
A non-refundable contribution to the University of the West Indies Fund is offered to families with six or more members. The contribution for a family of six is $150,000. For each additional applicant, an additional $15,000 must be paid. One of the children gets the right to study at the university for free for 1 year. This option does not require government fees.
It is possible to invest in real estate: to buy a share, apartment or villa in a government-approved project. These are objects of tourist infrastructure, usually large hotels and resort complexes, which are being built by international hotel holdings. Under this option, you must spend a minimum of $200,000 on the object and also pay a state fee.
The amount of the main investment does not depend on the number of family members who apply for citizenship together with the investor. But the amount of the fee increases by $15,000 for each child, parent, grandparent.
The main advantage of this option 一 is the return on investment. Under the terms of the program, the investor remains the owner of the object for 5 years, but after that he can sell it. Real estate in the Caribbean is growing at 1.5-2% per year, so investors returnheir investments and even receive income.
Business investment is the most expensive option. It is necessary to invest 1.5 million dollars in a local company. If several co-investors unite, then the total amount of investments should be $5 million, while at least $400,000 should be per person. A state fee is also paid.
Additionally, investors pay a due diligence fee regardless of the option. It is $7,500 for the investor and his wife, $2,000 for children aged 12 to 17, and $4,000 for adult family members of the investor.
Members of the investment program do not need to reside on the islands, but must spend 5 days on them within 5 years. Most investors come to the country to take an oath and at the same time relax in a piece of paradise. They immediately fulfill the condition of the stay program.
You can learn about the country and the procedure for obtaining citizenship by reading the article “Antigua and Barbuda passport: a detailed guide for the investor”