The Prime Minister of Antigua and Barbuda, Gaston Brown, spoke about the statistics of the citizenship program at parliamentary hearings on the country's budget for 2022. The Prime Minister noted that the country has earned about $46 million from the program in 2021. These are investments that came under the option of a non-refundable contribution.
How many investors participated in the Antigua and Barbuda citizenship program
498 investors have applied for Antigua and Barbuda citizenship in 2021. This is 36% more than in 2020. If we compare the program's performance in 2019 — the pre-crisis year — it can be seen that the number of people wishing to become citizens of Antigua and Barbuda also increased — by 5.5%.
The graph shows that the demand for the citizenship program has decreased in 2020. The reason is that due to the pandemic, investors could not fly to the Caribbean. However they are required to do so under the terms of the program. Citizenship can be deprived for the violation of the conditions.
New citizens of Antigua and Barbuda must spend at least five days on the islands in the first five years after receiving a passport. The condition applies to all adult applicants who receive citizenship by investment.
The government of Antigua and Barbuda stepped into the position of investors and temporarily lifted the requirement to stay in the country for at least five days. It is possible not to come to the islands until August 31, 2022. Investors were also allowed to take the oath remotely — online or in foreign offices of Antigua and Barbuda.
Expert of the Caribbean Investment program
What do program participants invest in
The Antigua and Barbuda Citizenship Program offers investors four investment options to choose from.
|Оptions||Amount of investment||Return on the investments|
|Contribution to the state fund||From $100,000||No|
|Contribution to the University of the West Indies Foundation|
for families from 6 people
|Purchase of property||From $200,000||Yes|
|Investment in business||From $1 500,000||Percentage of profit|
The program department did not release information about the percentage distribution of participants by options. However, the Prime Minister of Antigua and Barbuda said that about 90% of participants choose to invest in a public fund. The remaining 10% buy property or open a business in the country.
At the end of 2020, the Department of Citizenship Program highlighted that the demand for real estate has increased compared to pre-pandemic years.
The program department anticipates that demand for real estate will continue to grow for two reasons:
- Investors want to have a place to stay where they can come even during a pandemic.
- Investors are changing their approach to work: some are switching to a remote format that allows them to manage their business from anywhere in the world. It includes the country of the second citizenship, living in the property that was acquired under the program.
The investor can buy a share in the real estate project or an apartment and a villa for himself. Investing in Caribbean real estate has two important benefits.
Return on the investment. Under the terms of the program, the investor owns the property for five years. Then he can sell the share or the object. Real estate prices in the Caribbean region are growing by 1,5—3% per year.
In 2021, Antigua and Barbuda is offering investors the opportunity to purchase a share, apartment or villa in one of 42 approved properties.
Rental of properties brings income from 3 to 5% per annum. At the same time, the investor does not need to monitor the condition of the property, as it is done by the management company.
Tourist real estate in the country is in demand: vacationers rent hotel rooms, apartments and villas in resorts. The islands of Antigua and Barbuda are popular among tourists. Before the pandemic, about 300,000 people came to the country on vacation every year.
In 2021, travelers also chose the islands for their holidays: in August, 18,800 people visited the country, and in July even more — 23,405. Compared to July and August of previous years, the last time Antigua and Barbuda welcomed so many tourists was before pandemics in 2018.
The government of Antigua and Barbuda expects even more tourists after all flight restrictions are lifted. It means that the demand for tourist real estate and the cost of rent will increase further.
Examples of investment properties in Antigua and Barbuda
Investors with Antigua and Barbuda passport travel visa-free to 150 countries, including the Schengen Area, the UK and Singapore. Also, citizens of Antigua and Barbuda apply for a tourist visa to the United States with a duration of 10 years under a simplified procedure. For comparison, other foreigners can get such a visa for a maximum of three years.
Immigrant Invest ― is a licensed agent for the Antigua and Barbuda Citizenship Program. If you want to buy real estate and get a second passport for traveling, feel free to reach us for a consultation with our investment program experts.