Antigua and Barbuda’s Prime Minister has highlighted the latest accomplishments of the Citizenship by Funding Programme (CIP), noting its vital achievements over the previous six months.
Cupboard Spokesperson Lionel Hurst elaborated on this system’s success. Hurst emphasised that, “The costs for the commerce in our citizenship will escalate to a minimal of $200,000 in only a few quick days,” and added, “the excessive worth which is positioned on the Antigua and Barbuda journey doc which is issued to residents, these individuals who change into residents of Antigua and Barbuda.”
He additional defined the technique of brokers overseas promoting citizenship at a cheaper price of $100,000 to draw people earlier than the approaching worth hike on the finish of this month.
Hurst credited the effectivity of the Citizenship by Funding Unit for making Antigua and Barbuda a sexy vacation spot for CIP, stating, “Antigua and Barbuda has change into a favoured nation for its CIP program as a result of it’s so properly run, because of the folks on the Citizenship by Funding Unit.”
The Cupboard disclosed that revenues generated from the programme have been allotted to varied functions, together with debt compensation and nationwide improvement initiatives.
Funds directed to the Nationwide Improvement Fund (NDF) will assist infrastructure tasks nationwide, Carnival prize disbursements, compensation to the Nationwide Housing Company, and funding for highway repairs by the Ministry of Works.
In March, the Prime Ministers of Antigua & Barbuda, Dominica, Grenada, and Saint Kitts & Nevis signed a Memorandum of Settlement (MoA), setting a minimal funding threshold of US$200,000 for every nation’s CIP.
