Antigua and Barbuda has announced that it will reduce the minimum investment amount for applicants to its Citizenship by Investment (CBI) Program for a limited time.
Speaking at the Global Citizen Forum in Toronto, Prime Minister Gaston Browne announced that applicants may now apply for citizenship after making a contribution of USD200,000 to Antigua’s National Development Fund. Browne also used the platform to announce the territory’s intention to improve its appeal as an international financial center.
The CBI program was launched in October last year. When the initiative was launched, prospective citizens needed to commit to invest USD250,000. Alternatively, investors could spend USD400,000 on island real estate or make a business investment worth at least USD1.5m.
In Antigua, the basic rate of income tax is 10 percent on income up to USD48,000, 15 percent on income up to USD120,000, and 20 percent on income up to USD180,000, with a 25 percent rate levied thereafter. There is no capital gains or inheritance tax.