By Robert Andre Emmanuel
Antigua and Barbuda’s Citizenship by Investment Programme (CIP) has received a record number of applications during the first six months of 2024.
This reported increase came weeks before changes to the programme were set to take effect, as part of a regional effort to standardise CIP offerings across the Eastern Caribbean.
According to data provided by the Citizenship by Investment Unit (CIU), the programme received 739 applications in the first six months of this year — a 205 percent increase compared to the same period last year (242 applications).
This half-year figure also exceeds the total for any of the previous whole years.
Changes made earlier this year to the minimum investment standards for citizenship — from US $100,000 to US $230,000 — according to Investment Migration Insider, have likely triggered this wave of applications.
The dramatic uptick follows a strong performance in 2023, which saw 685 applications—a 40 percent jump from the 489 applications the CIU received in 2022.
The National Development Fund (NDF) continues to be the preferred investment route, attracting 83 percent of applications in early 2024, while real estate investments account for 15 percent of the total, reflecting a significant shift from the programme’s early days.
Additionally, a review of the report revealed that 75 percent of applications were received from individuals hailing from Canada (21), China (90), Egypt (19), Germany (13), India (21), Iraq (22), Lebanon (50), Morocco (21), Nigeria (67), Pakistan (32), Syria (18), Turkey (44), Ukraine (19), the UK (25), the USA (81), and Uzbekistan (11).
Since the start of the programme in Antigua, Chinese applications continue to lead with 21.5 percent of nationalities reported, with Nigerians following at 9.5 percent and Americans at 6.7 percent.
Starting August 1, the new baseline figure required for persons to obtain citizenship is now US $230,000, with the minimum real estate option now set at US $300,000, investment in UWI at a minimum of US $260,000, and the (NDF) option at US $230,000.