Last Updated on November 15, 2017, 3:24 PM AST by Anthony Morris
The cost for Antigua and Barbuda’s citizenship under the National Development Fund (NDF) has been reduced to US$100,000.
The previous price was US$200,000.
The announcement was made by Prime Minister Gaston Browne who was speaking in parliament Thursday morning.
He said the Citizenship by Investment Programme (CIP) has been doing poorly this year.
According to the prime minister, over the last two months, there have only been three applications under the NDF.
This means that during that time, the NDF option only generated US$600,000 in revenue.
Browne said other countries such as Dominica have been doing extremely well with an NDF option price at US$100,000 – and now Antigua and Barbuda will do the same.
He added that Dominica’s NDF makes $50 million per month.
For Antigua and Barbuda, the real estate option will remain priced at US $400,000 and the Business investment option will remain at US $ 1.5 million.
The Prime Minister said the 50 percent price reduction for citizenship under the NDF is necessary to earn revenue to rebuild Barbuda.
St. Kitts and Nevis recently reduced the price for its citizenship by creating a Hurricane Relief Fund under its CIP where an applicant can get citizenship for US$150,000.
SOURCE: Antigua Observer
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
