ANTIGUA CIP APPLICATIONS UP 49% FOR 2018
The Antigua Citizenship by Investment programme (CIP) is beating records in 2018, with the first six months of the year having the greatest volume of applicants in the history of the programme.
According to the the latest report released by the Antigua & Barbuda Citizenship by Investment Unit, the applications to end June 2018 are at 278, up 49% from the 187 applications in the first half of 2017. There is no doubt that the government’s decision to cut prices from US$200,000 to US$100,000 for up to a family of four is one of the major reasons for the record start to the year.
The high number of applicants may also have been influenced by the government’s decision to accept currencies other than just US dollars, such as Euros, and soon they will accept payment in an as-yet-unconfirmed cryptocurrency.
The investment into the country during this boost to the number of CIP applicants has been quite healthy as a result. Contributions to the government during this period, excluding real estate and business investment, are said to be over US$20 million. The report for the first half of 2018 also breaks down the nationality of the applicants, with Chinese investors leading the pack at 31% of all applicants.
This is followed by Syrians, Russians and finally Libyans combining for the next 20% of applicants.
With the US$100,000 price point for a family of four being extended by a further 12 months, the outlook is positive for the second half of 2018. The extension of the discount period will undoubtedly continue to make an impact on the number of citizenship by investment applicants in Antigua & Barbuda.
The Citizenship by Investment Programme was established following parliamentary assent to the Antigua and Barbuda Citizenship by Investment Regulations 2014