Antigua and Barbuda is set to launch a fourth new option for Citizenship by investment program (CIP) to fund Antigua university with the investment ceiling of USD 150,000.
Antigua become one of the popular CBI programs in the Caribbean after the Government cut prices by 50% last year. Currently the contribution requirement for NDF fund stands at $100,000 per application.
According to Antigua observer, Cabinet decided to create a fourth option under the CIP for the sum of US$150,000 per file. The innovative legislative change to the CIP law will be used to fund Antigua’s university at Five Islands.”
“The Cabinet agreed that a university system present on Antigua and Barbuda’s soil will inspire many youth to pursue tertiary education. By securing funding through the CIP mechanism, tertiary education will be made more accessible, less costly, trigger many spin-offs by way of collaboration with other universities, and generate even a greater demand for tertiary education. The proposal will go before the parliament in due course, but before September 2018.”
The new CIP option is likely to be launched before September of this year after legislative changes.
The proposed new CIP University option seems more expensive option than the current one for the same benefits.
Antigua Observer wrote “We have to wonder who will pay U.S.$50,000 more for the University option, when they can contribute just U.S.$100,000 for the National Development Fund (NDF) option? If the answer is, ‘just because’ then we have a hard time accepting that”.
Source: https://antiguaobserver.com/new-cip-option-to-come-soon-for-150k/
