PRINZ VON PREUSSEN

Antigua

About

Antigua & Barbuda is a tropical island state in the Carribean southeast of Puerto Rico. The islands comprise a total of 442 sqkm and have about 85600 inhabitants. The capital Saint John`s is also home to V.C. Bird International Airport which offers direct flights to North America via San Juan and several flights to Europe (flight time to NYC is about 4 hours; to London 8hours).  Antigua & Barbuda is part of the Commonwealth and English is the official language and the Eastern Carribean Dollar which is fixed to the US DOllar the offical currency. The islands are popular with tourists which are attracted by 365 white and pink sand beaches and some of the best diving and snorkeling in the Carribean. Please find more information here.

Main Advantages

  • Very favourable tax regime
  • Economically,, socially and legally stable Commonwealth country
  • Security from potential taxation reform in Europe and North America
  • Visa free travel to more than 115 countries including EU, Carribean, Canada. Switzerland
  • Applicant can stay as much (or few) time in Antigua & Barbuda as they wish
  • 365 beaches, an abundance of five star resorts, restaurants and recreation possibilities, sunny climate

Taxation

  • Personal Income Tax: None
  • Inheritance / Gift Tax: None
  • Net Worth Tax: None
  • Capital Gains Tax: None
  • No restriction on the repatriation of profits and imported capital
  • No direct taxes for approved citizens

Cost of Living

As with most island economies imported goods are relatively expensive while other goods and services are moderately priced. The rent for a 1br appartment can be about 8000USD a year, purchase prices for a 70sqm appartment start at about 35.000USD. Please find more information here. 

Requirements

The Citizenship by Investment program passed only recently (March 2013). It allows applicants to obtain citizenhship by investment. Upon grant of cititzenship a new passport is issued that allows the applicant to travel Visa free to 115 countries and allows the investor to take advantage of the tax regime. The investment options include:

  • Devolopment Fund Investment of 250.000USD which needs to be investeted in the National Development Fund. There is no financial return and no return of investment as this is a one-time payment.
  • Real Estate Investment of 400.000USD (minimum). There will be a number of limited approved developments that allow investors to acquire real estate and purchase a residence in Antigua & Barbuda.
  • Business Investment of 1.5 million USD (minimum). The applicant can invest in a Government approved business on their behalf.

In all cases there will be added application and due diligence fees of about 57.500USD for every applicant (each dependant needs to pay extra; there is a 50% rebate for Children on the application fee).

Other requirements include (amongst others):

  • Original bank reference letter indicating proof of funds.
  • Original professional reference
  • Personal interview by Citizenship for Investment Board
  • If approved travel to Antigua & Barbuda to personally collect passport and swear oath of allegiance
  • New citizen must spend a minimum of 7 days on island or 35 days within 5 years to qualify for renewal of passport

Please contact us for more information about a full list of necessary documents. Also note that the program is new, limited and requires careful planning. The information above is subject to change.