Antigua & Barbuda launches Citizenship by Investment Program

Antigua & Barbuda has launched its “Citizenship by Investment Program” with Prime Minister Baldwin Spencer saying the initiative is to generate investments and jobs for nationals and to put the twin island-nation on the road to sustainable growth and development.

According to Prime Minister Spencer, over the past 2 years, his administration had sought to ensure that all nationals of Antigua & Barbuda, were educated and informed of the initiative, which the administration insists “has the potential to transform the economic landscape of the country”.

“Nothing more, nothing less. Despite the flip-flopping and the scare tactics being exhibited and promulgated by the opposition party on the issue, the motivating factor for the ruling United Progressive Party (UPP) administration has always been and will remain about generating investments and creating jobs and growing the economy,” he said at the launch of the project over the weekend.

Spencer said that various stakeholders including the general public had discussed the project and had examined the best strategic options available to support investment and residential tourism as well as examine the business benefits which can come with economic citizenship. He added that meetings had identified risks and necessary safeguards that should be in place to maintain the integrity of the Antigua & Barbuda passport and among other things as well as establishing an institutional framework to manage the program.

“For over two years, the administration has worked on ensuring that the Citizenship by Investment Program which we are launching today can maintain its integrity and stand up to scrutiny,” he said, noting that while the United States Citizenship by Investment Program differs slightly to Antigua & Barbuda’s, the offerings remain the same, in that the investor becomes a citizen of the United States and the holder of an American passport.-(CMC)