Gaston Browne, Prime Minister of Antigua and Barbuda, during the presentation of the budget to Parliament, said that the 10-year 4.5 percent instrument registered on Euroclear “is the first and largest bond of its kind issued by Antigua and Barbuda and it has been fully subscribed”.
Signing such a bond would allow the government to “re-profile its debt, to ensure sustainability going forward, and to invest in strategic projects that will drive economic growth, create employment, and generate increased revenue to finance government operations.”
Projects include the acquisition and renovation of the Jolly Beach Hotel and the construction of a hotel in Morris Bay.
Separately, the Prime Minister mentioned Citizenship by Investment Program (CIP). Antigua and Barbuda received 498 applications in 2021, which is 36% more than the last year, 2020. And the income from the program was EC$ 123.1 million (US$ 45.5 million).
The money received from the program was used for health care and economic assistance to mitigate the adverse effects of declining government revenues.
Since 2013, Antigua and Barbuda has been offering foreign investors the opportunity to invest in the country and, after successfully passing due diligence, obtain citizenship and a passport.
The investor can choose from the following investment options:
- Donation to the National Development Fund
- Acquisition of state-approved real estate
- Business investment
Learn more about Antigua & Barbuda Citizenship by Investment program
The program attracts investors every year because it offers a number of benefits:
- Extensive global mobility
- Quick processing in 6-9 months
- Inclusion of dependent children under and dependent parents or grandparents
- No interview, education, or managerial experience required
- No taxes on international revenue, wealth, or inheritance tax
- Antigua is the first jurisdiction to formally offer Citizenship by Investment to Stateless persons
- CIP investors can resell property to subsequent CIP applicants, whether in the form of share or unit, passing on the same rights to apply for citizenship
- No requirement to travel to Antigua and Barbuda during the application process
Source: jamaicaobserver
