With applications surging at an average growth rate of 14.3% between 2013 and 2023, Antigua & Barbuda’s Citizenship by Investment program (CIP) is slated to see a significant increase in application numbers in 2024, as per reports released by experts at Dubai-headquartered citizenship and residency by investment, Savory & Partners.
Since its launch in 2013, Antigua & Barbuda’s CIP has been known for its simplicity, accessibility, and remarkable value proposition. At the core of the program are its diverse investment routes, from National Development Fund (NDF) or the University of West Indies Fund (UWF) to real estate investments and business establishments.
Experts highlight Antigua & Barbuda’s CIP for its significant benefits and positive trajectory, proven by ongoing development within the Unit overseeing the program. This includes modifications in the application process, making the journey to obtaining an Antigua & Barbuda’s passport increasingly smooth. In addition to last year’s changes, including the introduction of mandatory interviews, a complete overhaul of the application process is expected soon, as per the CEO of the Unit.
During her exclusive interview with Savory & Partners, Charmaine Donovan, CEO of CIU, revealed important updates within the program, including plans to establish an embassy in Dubai. “This major new development will greatly benefit investors with superior customer service and delivery,” she said.
Expanding global mobility
Recent diplomatic initiatives, such as the signing of ten memorandums of understanding (MOUs) with top Chinese officials, further enhance the global mobility of Antiguan citizens, framing the country’s position as a strategic hub for international cooperation and connectivity.
“With strategic initiatives and the Unit’s commitment to improvement, Antigua & Barbuda’s CIP is steadily progressing towards becoming one of the leading investments in 2024,” commented Jeremy Savory, CEO of Savory & Partners
Price hike in the horizon?
Looking to the future, one potential development on the horizon is the possibility of a price hike in Antigua & Barbuda’s CIP, mirroring similar adjustments in neighboring Caribbean nations. While no official statement has been released, advisors urge investors to seize the opportunity presented by the program’s current favorable terms before any changes take effect.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. The company has coverage in over 20 jurisdictions, including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. It has processed second passports for over 4,000 citizens with a 100 per cent success rate.
With a presence in 3 continents and 7 countries and more than 60 experts worldwide, the company’s multinational staff comprises advisors who guide clients in English, Arabic, Farsi, French, Spanish and Hindi.
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Press Release from Carey Olsen, Friday 19 April, 2024. Carey Olsen has advised investment services firm Sanctum FI LLP (“Sanctum”), the investment manager of Financial Science Holdings