Antigua and Barbuda’s Citizenship by Investment Programme (CIP) not only provides investors with exceptional benefits, it is also a key contributor to the country’s economy and social projects.
For investors looking for a socially responsible and strategic programme, Antigua and Barbuda’s CIP is an indisputable win-win. And as other countries see a shift towards closing their borders, Antigua and Barbuda is unmistakably benefitting by going in the opposite direction.
Besides the real-estate and businesses investments, which bring new capital, jobs and entrepreneurship to the Caribbean paradise, the revenue obtained from the most common option – the National Development Fund contribution – is harnessed for inclusive and sustainable growth.
Photo: Nonsuch Bay Resort
So far, the programme has raised more than $200 million and the money has been earmarked to meet social security and pension shortfalls, provide affordable housing, contribute to a cancer treatment centre and bolster the health sector in general. Moreover, the money has helped to lower the country’s debt-to-GDP ratio, which has decreased from over 100% to 75% within the last three years.
Not only do many people who take part in the programme fall in love with the country and make further investments, a larger population also leads to more tax revenue for the government, points out Cameron Fraser, General Manager of Nonsuch Bay Resort, which works with the CIP.
“I think the secondary opportunities are not talked about enough. This is a legitimate and commendable way to raise revenue, diversify and introduce our country to wealthy individuals who can further elevate the economy, their lives and the lives of locals,” he says.
This is commendable way to raise revenue, diversify and introduce our country to wealthy individuals”
The real estate investment option for Antigua and Barbuda’s CIP gives new citizens the chance to make returns on the investment while also enjoying their home in paradise.
Photo: Ministry of Tourism
While a one-time donation to Antigua and Barbuda is the most common way to secure citizenship through the country’s programme, the $400,000 (US dollar) real-estate option is often more economically appealing in the long term. It can also come with the added bonus of having a gorgeous, stress-free home in the sun, as is the case with the Nonsuch Bay Resort.
Today, the experienced resort company is constructing one-bedroom hotel suites, optimised for investment, with expected returns of four to five percent per annum. And it takes the worry out of second-home ownership by taking care of all the maintenance and handling the rental of the unit while the owners are away, if desired.
“Not only do people cover their initial cost with good potential to make money back, but investors also get weeks of free vacation time in their homes. That’s a good value proposition,” says Cameron Fraser, General Manager of Nonsuch Bay Resort.
Photo: Nonsuch Bay