Antigua and Barbuda Citizenship by Investment program has received 672 applications and $100 million revenues to NDF consolidate fund for 2018. This was announced by PM Browne when presenting 2019 Budget statement. This also means Antigua CIU has been receiving on an average 56 applications per month under CIP.
“CIP delivered for our people”, said the Prime Minister Gaston Browne
Antigua and Barbuda fastest growing in the entire CARICOM area recorded economic growth of 5.3% in 2018. Antigua aims a achieving 6% for 2019 and expects increased CIP applications.
Of the $181 million budgeted for non-tax revenue, $100 million represent NDF receipts from the Citizenship by Investment Program.
The Government encouraged and promoted the Citizenship by Investment Programme (CIP) to help diversify our economy and to earn much needed non-tax revenue. In the last quarter of 2018, the number of applications increased, boosting revenues.
“We will continue to compete vigorously in the world market by promoting it and operating it, in accordance with best international practices, including continued strong vetting of applicants.”, said PM Browne
The introduction of the fourth CIP option in 2018, the University of the West Indies Fund, to partially fund the fourth landed campus of the University of the West Indies.
Blockchain
Antigua is keen become international financial center of blockchain technology.
Our vision is to be the regional centre for blockchain and cryptocurrency. We will collaborate with global oversight bodies in implementing international best practices, that will make our jurisdiction attractive to international business” he added .
REITs
Antigua also plans to introduce Real Estate Investment Trust (REIT), used globally to encourage investment in income generating real estate.
The government will introduce legislation to facilitate REIT as an additional opportunity for locals and foreigners alike.
“we will promote the renewal and revitalization of St. John’s, by encouraging businesses and property owners to make use of REITs, to redevelop and expand their properties and diversify their holdings.” said Hon Gaston Browne
