Charmaine Donovan, the Chief Executive Officer of the country’s Citizenship by Investment Unit (CIU) has confirmed processing fees across all the investment options for the programme have been reduced effective August 1, 2017.
Antigua previously had some of the highest citizenship processing fees in the region.
After consultation and recommendation from the CIU, the Cabinet agreed to reduce the processing fees for its Citizenship by Investment Programme to remain competitive in the CIP scheme.
Even with the reduction in fees, Donovan said, “Our application fees are [still] not the lowest, but it’s more competitive.” She added, “Of course in this business, you need to be competitive in order to attract business, and so the thought process was let us reduce the processing fees.”
Processing fees under the National Development Fund option were reduced to US$25,000 for a single applicant or a family of up to four (4) persons (+US15,000 for each additional dependent).
Processing fees under the Real Estate umbrella were reduced to US$50,000 for a single applicant or a family of up to four (4) persons (+US15,000 for each additional dependent).
The Antiguan government is insistent that the initial investment amounts will remain the same. The investment cost for the NDF option is still US$200,000, and real estate remains at US$400,000.