BLOG

Our Latest Blogs

Posted By: ADAM Global | 04 Jan 2017

DESTINATION ANTIGUA AND BARBUDA – 365 Beaches are Just the Beginning!

Antigua and Barbuda is an independent State in the Caribbean strategically located at the North-eastern corner of the archipelago of Caribbean islands. International carriers such as British Airways, Virgin Atlantic, American Airlines, United, Delta and Air Canada offer a varying number of weekly flights to the VC Bird International Airport which commenced operations at its new state-of-the-art facilities in August 2015. Several charter companies also make direct flights from major cities in Europe and North America.

With a beach for every day of the year, it’s no wonder our tourist arrivals are back to its pre-2009 (global economic crisis) numbers of just under one million. Coral reefs and marine life make scuba diving and fishing popular activities for locals and tourists alike on both islands. Hunting for wild boar, deer, guinea fowl, pigeons, and ducks can be done on Barbuda. On Antigua, one can visit Historic Nelson’s Dockyard and Betty’s Hope to learn about our History and Culture or take in an afternoon of local, regional or – if you are lucky – international cricket or soccer! Nature trails and the sampling of local cuisine are also recommended activities for visitors. Antigua has also become a pre-eminent destination for weddings and honeymoons and has copped several recognitions over the years.

Antigua and Barbuda is a member of the United Nations, the British Commonwealth, the Organization of Eastern Caribbean States (OECS), Caricom and the Organization of American States (OAS) among many other international organizations. Holders of the Antigua and Barbuda passport enjoy visa-free travel to approximately 134 countries, including the U.K., Canada, and the countries of the Schengen area. The government is structured as a constitutional monarchy with a parliamentary system of government. Global Finance estimated the country’s literacy rate in 2011 at 99%. With English as its official language and spoken by all residents, locals will proudly burst out in dialect: “A ya me born!” Translation: “I was born here”.

 

ECONOMIC OVERVIEW OF ANTIGUA

Tourism is Antigua and Barbuda’s key driver of its Gross Domestic Product and generates approximately 60% of the island’s income directly or indirectly. Other contributors to the GDP are light manufacturing, agriculture and for the past two years, the Citizen by Investment Programme (CIP). The government has facilitated the establishment of the CIP with the passage of the necessary legislation and set up of the Citizen by Investment Unit (CIU) unit. This unit is the government authority responsible for the administration of the CIP. This latest economic activity can be considered in its ascendancy as the country seeking to diversify its revenue streams and decrease its dependency on tourism.

With the jury out as to what is a “developing country”, Antigua boasts infrastructure and services similar to that of developed countries: Socialized Medical Care,  University Campuses, Utilities, Air and Sea ports, Building and road infrastructure, Banking and Finance and Telecommunications. The two largest telecoms companies boast 4G internet connectivity. Also readily available on the island are qualified professionals in the areas of Law, Accounting, Finance, Real Estate and IT among others. Antigua and Barbuda were ranked 58 out of 188 on the 2014 Human Development Index. The only other Caribbean island that was ranked higher was Barbados at #57. Antigua and Barbuda also has a vibrant offshore sector with several International Banks, Offshore Companies and Gaming operations registered in Antigua which is regulated by the Financial Services Regulatory Commission. The Offshore Sector has also been utilized for the Registration of several boats and mega yachts which facilitate the popular yachting industry in Antigua.  In October 2016 Antigua and Barbuda was the first country in CARICOM fully implement the Basel II which is a set of banking regulations put forth by the Basil Committee on Bank Supervision with respect to international regulatory standards.

LESLIE-ANN BRISSETT LEGAL SERVICES (LBLS)

FIRM OVERVIEW

In 2014 Ms. Leslie-Ann A. Brissett established the law firm of Leslie-Ann Brissett Legal Services (LBLS) www.lbrissettlegal.com with the intention of providing diligent, prompt, effective and professional Civil, Corporate and Immigration Services at a high ethical standard.

Ms. Leslie-Ann A. Brissett is a member of the Antigua and Barbuda Bar Association since 2006.  In 2006 she worked as an Associate Attorney at a prominent local law firm providing a full range of legal services to key stakeholders and Corporations locally and internationally.

LBLS has a diverse team of employees who contribute to the delivery of a wide range of Civil and Corporate services and specializes in Mergers and Acquisitions, Citizenship by Investment and Immigration Services, International Private Client services, Trusted Advisor Services, Family Office, Real Estate, Securities, Intellectual Property Law and Civil and Commercial Litigation.

 

CITIZENSHIP BY INVESTMENT PROGRAMME

Antigua and Barbuda offer citizenship and tax residency for several wealthy individuals and corporations who are attracted to Antigua and Barbuda for its low tax regime and offshore jurisdiction.

The Citizenship by Investment program requires the applicant to make an economic contribution to the country. In exchange, and subject to the application procedures, such as background checks, applicants, and their families are granted citizenship.

 

To qualify for citizenship, the principal applicant must be over 18 years of age, satisfy the application requirements and select one of the three options available. The first option is an investment of at least US $400,000 into one of the approved real estate projects.  The real estate investment program has led to the introduction of major developments on the island such as the international brand Marriott which broke ground in November 2016 and the Pearns Point development where the Rothschilds family and the Taylor Thomson family have made recent investments.

 

The second option is a contribution of a non-refundable amount of US$200,000 to the National Development Fund (NDF) for a single applicant, US$200,000 for a family of four or less. For a family of five or more, a contribution of US$250,000 must be made. The third and final option is a direct investment of at least US$1,500,000 in an eligible business as a sole investor or as a joint investment by at least 2 persons. In the case of a joint investment, the business must be worth at least US $5,000,000 where each of the investors invests at least US $400,000. The fees associated with the Citizenship by Investment Programme are as follows:

 

Due Diligence Fees (non-refundable)

Principal Applicant………………………………….  US$7,500.00

Spouse………………………………………………   US$7,500.00

Dependent child aged under 12…………….    US$0

Dependent child 12-17 years………………….   US$2,000.00

Dependent child 18-25 years………………….   US$4,000.00

Dependent parent aged over 65…………….    US$4,000.00

 

Government Processing Fees

US$50,000.00 for the Principal Applicant***

US$50.000.00 for Spouse

US$25,000.00 for each dependent child from 0-11 years

US$25,000.00 for each dependent child from 12-17 years

US$50,000.00 for each dependent from 18-25 years

US$50,000.00 for each dependent parent aged over 65 years

*** Principal Applicant $50,000, Spouse $50,000 and Two dependents are FREE (applies to the NDF investment option only)

 

Investment Fees

NDF contribution of US$200,000 2.  Real Estate investment of minimum US$400,000.00 and 3. Business Investment of a minimum of US$1,500,000.00.

LBLS can assist you in legally acquiring a second citizenship in Antigua and Barbuda and if necessary in members states such as Dominica, St. Lucia and Grenada quickly and without disrupting your lifestyle. In this program, there is no need to give up your original nationality. For economic considerations and without residency requirements you can legally acquire a new citizenship within 60-90 days.

Some key pointers to note is that Applicants and their dependents who have in the past been denied a visa to countries which Antigua has visa-free access may not apply into this program. Dual citizenship is allowed and individuals who will not become resident for tax purposes in Antigua are not subject to any personal income tax.

In October 2016 the Government of Antigua and Barbuda has also agreed to pay 10% commission to all CIP Authorized Representatives/Suppliers and this commission is payable on both on the government fees and also on the actual contribution.

For further details on the Citizenship by Investment Programme and the real estate properties that fall under the CIP Programme please visit the Government’s web page at www.cip.gov.ag. You may also visit the LBLS web page at http://www.lbrissettlegal.com/citizenship and http://www.lbrissettlegal.com/copy-of-citizenship.

 

 

About the Author:

Ms. Leslie-Ann A. Brissett is a member of the Antigua and Barbuda Bar Association since 2006.  In 2006 she worked as an Associate Attorney at a prominent local law firm providing a full range of legal services to key stakeholders and Corporations locally and internationally.

In 2014 she established the law firm of Leslie-Ann Brissett Legal Services (LBLS) www.lbrissettlegal.com with the intention of providing diligent, prompt, effective and professional Civil, Corporate and Immigration Services at a high ethical standard.

LBLS provide a wide range of Civil and Corporate services and specialize in Mergers and Acquisitions, Citizenship by Investment and Immigration Services, International Private Client services, Trusted Advisor Services, Family Office, Real Estate, Securities, Intellectual Property Law and Civil and Commercial Litigation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About the author


Top