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Charmaine Donovan, CEO of (CIP) speaks to the program’s successes (file photo)
The Citizenship by Investment Programme (CIP) of Antigua and Barbuda is widely recognized as a model of excellence in the industry, thanks to its rigorous standards of due diligence and operational professionalism.
This sentiment was echoed during a recent gathering of the nation’s diplomats at the Royalton Hotel, where Ambassador Jeff Hadeed, Chairman of the Citizenship by Investment Unit (CIU), and CEO Charmaine Donovan shared insights into the programme’s success.
Both officials highlighted how international inspections often cite Antigua and Barbuda’s CIP as the standard for others in the Eastern Caribbean.
Donovan recounted a recent inspection by a UK team in St. John’s, where every inquiry was met with comprehensive responses, leading the team’s leader to praise the efficiency and professionalism of their operations.
According to Donovan, the inspection results demonstrated that other territories should adopt similar practices.
Looking ahead to 2024, Donovan reported that the CIP is enjoying a strong year with over two thousand applications already filed.
She explained that, although a decrease in applications was anticipated due to an increase in the investment threshold that took effect last August, demand for the programme has remained robust.
“Many applicants expedited their submissions to take advantage of the lower investment requirement prior to the change in August 2024. While we expected a slowdown following this shift, we’ve seen sustained interest in the programme,” Donovan stated, noting that the investment threshold increased significantly from US100,000.00 to US$230,000.00.
Notably, Antigua and Barbuda distinguishes itself from other CIP programmes by requiring only five days of residency, a feature that enhances its appeal.
Regarding recent concerns raised by the US government about CIP programmes, Donovan remarked that while previous administrations had established a consensus with the five countries offering citizenship by investment, uncertainty lingers with the new policies under the Trump Administration.
Good that we hold our program to such hight standards yet the UK EU and US have issues with our CIP
I believe it’s a good initiative but it is also subjective based on the opinions of countries with varied interests. Our small nation needs these ventures
Many investors benefit from the program as does the island.