The Government of Antigua and Barbuda has introduced a New CIP fund option for $150,000 to fund University of West Indies campus. PM Browne made this announcement in the parliament while presenting the C.I.P report for January to June in the Parliament.
Families with six or more applicants applying for CIP under this option will be give one-year free tuition for one child of that family for education.
Citizenship by Investment Unit received 278 citizenship applications and revenues from CIP reached EC $90 million and expected to reach $190 million by end of 2018.
The new university campus is expected to bring economic benefit to the country and will inspire many youths to pursue tertiary education.
The Prime minister also announced that, Agents promoting this option will be given $30,000 commissions per file.
The New university fund option is $50,000 higher than the current NDF donation of $100,000. Last year in Oct 2017, after Hurricane devastated Barbuda, the Government slashed the CIP prices by half.
PM Browne said “The decision we took last year to reduce the prices to US$100,000 has restored the number of applications”
The Government may also introduce a new tax to fund the operations of the fourth landed campus of the University of the West Indies at Five Islands.
Source: antiguaobserver
