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Pictured above: Prime Minister Gaston Browne
October 13, 2017

Antigua Cuts Cost of Citizenship to $100,000 (50% Reduction) to Battle Decreased Demand

Posted by:
Elevay Global

Source: Antigua Observer - Cost of citizenship cut in half – Visa-free loss coming back to haunt?

Earlier this year, the government of Canada revoked visa-free travel for citizens of Antigua. Previously, this exclusive access to Canada was “the country’s most compelling advantage” in the Caribbean citizenship market, and since the loss, demand for the country’s citizenship programme has decreased.

Prime Minister Gaston Browne noted that the Citizenship by Investment Programme has been doing poorly, and over the last two months, only 3 applications have been made under the programme’s donation option.

The Prime Minister further noted that other countries in the Caribbean, such as Dominica and St. Lucia, have been performing extremely well with their NDF option priced at $100,000. In comparison, he noted that Dominica’s NDF makes $50 million per month compared to the $600,000 Antigua has made in the past two.

“the market has determined that the most attractive amount is U.S. $100,000” and this is evidenced by a staggering 95 percent decline in NDF applications. – Antigua Observer

In addition, the significant damage from this year’s hurricane season has left the island of Barbuda destroyed. Funds from the NDF will be used to help reconstruct the island, but a change was needed to increase applications allowing for a timely response to the devastation.

It is because of this, the government announced the following changes to the programme pricing:

  • NDF option will now have a $100,000 minimum investment for a family of up to four persons, reduced from $200,000
  • The investment amount for a family of five or more will be $125,000, reduced from $250,000

The other investment options will remain unchanged.

To take advantage of this price change or to get more information on the changes, please request a free consultation.

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