Over 2000 CIP Applications Up to July This Year
The number of applications processed by the Citizenship by Investment Unit in 2024 has surged astonishingly compared to the total processed in the last three years.
The Chief Executive Officer, Charmaine Quinland-Donovan, revealed that over two thousand applications had been processed by the end of July this year.
This is a significant increase compared to the number processed in previous years.
Surprisingly, approximately 1,000 applications were processed in July alone, and just under that amount was processed between January and June of this year.
The surge in applications in July was largely due to a drastic increase in the application fee from US$100,000.00 to $230,000.00 starting from August 1.
It seems that applicants rushed to have their applications processed before the fee hike.
However, there has been a sharp decline in applications since the fee increase.
This revelation has surprised many, considering the programme’s critical role as a source of foreign direct investments into the country and its significant support of various social programmes in Antigua and Barbuda.
Meanwhile, Prime Minister Gaston Browne laid the bi-annual report from the CIU for the period January to June 2024 on the table during Tuesday’s sitting of the House of Representatives.
This story was first published by Antigua News on September 12, 2024: antigua.news/2024/09/12/over-2000-cip-applications-up-to-july-this-year. © 2024 Antigua News. Republication without permission is not allowed.
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