The Antigua and Barbuda is one of the highly transparent CIP programs in the region, the government has committed to the accountability of the funds generated from citizenship by investments. Revenues from the country’s Citizenship by Investment program amounts to nearly 60 percent of all non-tax revenue.
Under the citizenship by investment program, foreign individuals can obtain citizenship in accordance with the Citizenship by Investment Act of 2013, which grants citizenship without voting rights to qualified investors. Applicants are required to undergo a due diligence process before citizenship can be granted. Citizenship by investment investors must own real estate for a minimum of five years before selling it.
The Government publishes half yearly (6 month) annual reports under section 5 of the Citizenship by Investment Act, starting on the 1st January and the 1st July and shall be prepared within fourteen days of the expiry of each half-year period.
It is important to note that names of citizenship holders are not disclosed to public, ensuring high privacy.
CIP Reports
The information contained in the CIP reports shall include –
- number of applications made, granted and refused under the Act;
- number of passports issued by virtue of the Act;
- dates of the application and of the Minister’s decision;
- nationality of the applicants and of any dependants included in the application;
- amount of the purchase price, contribution or investment, as the case may be;
- name of the approved project, charitable organisation, government-sponsored project or business investment in respect of which payment was made to support each application;
- aggregate amount in the National Development Fund at the date of the report; and
- date on which the payment made by a successful applicant was transmitted from the National Development Fund to the government-sponsored project or the approved non-profit organisation, as the case may be, together with such other information as the Minister considers appropriate.
Allocation of Funds
The Antigua and Barbuda government so far has used citizenship revenues
- Reduce public debt and IMF loans
- Art, culture, carnivals and sports
- Affordable homes to locals.
- Hurricane prevention and rebuilding.
- Education and schools
- Healthcare, Hospitals, pharmacy and equipments
- Public works, defence forces, agriculture, tourism, fire
- Social security and pension payments
Download
The six month reports from 2016 to 2022 is available in the CIU Antigua website
