In a memorandum issued on July 30th, 2024, Charmaine Donovan, CEO of the Antigua and Barbuda Citizenship by Investment Unit, announced changes to the Antigua and Barbuda Citizenship by Investment Program, following the Caribbean Five’s memorandum of agreement in March to harmonize Citizenship by Investment units’ regulations. These changes come into effect on August 1st, 2024, one month after the rest of Caribbean five implemented their new regulations. Antigua and Barbuda asked for a month of extension to have enough time to implement new rules as well as St Lucia that asked for a grace period to finish current proceedings also until 1st of August.
New investment thresholds
The revised minimum investment amounts are as follows:
Real Estate Investment:
US$ 300,000
UWI Fund/Higher Education:
US$ 260,000 (inclusive of processing fees)
National Development Fund:
US$ 230,000
Investment in Business: Unchanged (US$ 1.5M for a single investor, US$ 5M for joint investments with no party investing less than US$ 400,000)
Changes to dependent definitions
The new regulations have modified the definition of dependents:
A child of the main applicant up to 30 can now be considered dependent.
The requirement for dependent children to prove financial dependence has been removed.
Spouses up to the age of 35 can be added to the application post-approval, provided they meet specific criteria.
These changes provide greater flexibility for applicants and their families, aligning with the broader regional efforts to harmonize investment and citizenship criteria.
This is a great move for the Caribbean Five, demonstrating their commitment to unity, enhanced reputation, and tighter regulations that benefit the entire region.
