CIP free after five years
(Antigua Observer) Investors who gain citizenship by investment into Antigua & Barbuda will be allowed to pass on that citizenship to their children without charge after five years, fulfilling all requirements.
The announcement was made by the acting Chief Executive Officer (CEO) of the Citizenship by Investment Unit (CIU), Thomas Anthony, during the second session of the inaugural Citizenship by Investment Programme (CIP) Summit.
Anthony explained that citizenship is conditional only for the first five years.
“The first passport is issued for five years with some conditions attached,” he said. “Once you would have met these conditions — such as owning the investment for five years, coming to Antigua, pledging the oath and keeping a clean criminal record, of course — then your new passport is issued for 10 years, and you become a citizen like me.
“And so all of the benefits that a citizen gets you would be able to benefit from including passing citizenship unto their dependents.”
The same, he said applies for a new spouse.
A final decision has not yet been made for before the five-year timeline. However, the CIU’s policy recommendation to the government is that main applicants are allowed, in the first five years, to attach a dependent, whether it be a spouse or minor children, to an application that would have been approved.
Anthony explained that only a small percentage of applications that come to the unit are denied.
“As for the denial number, I’d say the number is about 2 to 2.5 per cent,” he noted.