Monday, 14 January 2019

Smart Entrepreneur? Why an Antiguan Passport Should Be Your Next Investment

For many people, Antigua and Barbuda are considered the perfect vacation spot, and that indeed is true. When you combine a year-round agreeable climate, laid-back locals, a robust economic profile, and fantastic fresh food, you know that you are going to have a holiday that you will never forget.

But for others, Antigua and Barbuda are becoming more than just somewhere to spend a week in every now and again; it is becoming a significantly desirable place to obtain a second citizenship. Because when you combine the above benefits with the business and finance benefits, you find that there is nowhere better for a businessperson to create a second home.

If you are a smart entrepreneur, here are three reasons why an Antiguan passport should be your next investment.

1. An Antiguan passport can be your second passport.

Before getting into the benefits that having an Antiguan passport can bring you (and there are many significant ones), it is first important to establish the fact that you don't need to give up your current nationality in order to qualify for an Antiguan passport.

Unlike a vast majority of other countries, Antigua and Barbuda allow dual citizenship, thus ensuring that you can remain a legal resident of your current country of residence while also becoming a citizen of (and holding a passport from) Antigua and Barbuda.

This is important because it doesn't force you to leave your home country behind and you will still enjoy the freedom to return to and live in your current country of residence whenever you desire. In fact, Antigua and Barbuda have minimal residency requirements; you only need five days of residency in the first five years. And your property will be eligible for resale after those five years of ownership.

So, by obtaining an
Antigua and Barbuda citizenship by investment, you will be awarded dual and lifetime citizenship for you and eligible family members.

2. An Antiguan passport can help you expand your business.

As a forward-thinking entrepreneur, you are always on the lookout for ways to expand your business and to be ahead of the curve. Obtaining a second citizenship is becoming a more popular option for those who are thinking out-of-the-box for their long-term strategy.

However, when searching for the perfect place to get a new citizenship, you need to contemplate the business benefits that a particular locale will offer.

If you opt for second citizenship from Antigua and Barbuda, then you will be joining one of the most prosperous nations in the Caribbean and a member of the Eastern Caribbean Currency Union (ECCU).

Additionally, Antigua and Barbuda have no capital gain or estate taxes, and any income produced outside the country is not taxed. For entrepreneurs, this is a fantastic way to safeguard your wealth and assets.

Furthermore, by becoming a citizen of a Caribbean country, you will have additional opportunities to diversify your business dealings around the globe, with the potential to grow your company into a worldwide brand.

3. An Antiguan passport has a low barrier to entry.

 There are three different ways to procure an Antigua passport:

        High-net-worth individuals can contribute a minimum of US$100,000 to The National Development Fund (NDF).
        Those looking to expand their real estate portfolio can invest a minimum of US$400,000 in government-approved Caribbean investment properties.
        Those who want to invest in businesses can invest US$1,500,000 in a government-approved business investment.

So, if you have been dreaming about living, working, and playing in the beautiful Carribean, these are the three options for high-net-worth individuals and wise entrepreneurs that can make that dream a reality.

As there are stringent rules and criteria that you must meet, it is highly recommended that you opt to work with highly qualified legal and accounting professionals who can guarantee that your application is thoroughly and appropriately created.

Knowing that you have the professionals working with you will help keep stress to a minimum and will have you enjoying your new-found citizenship in no time. 

Have you ever considered getting a second citizenship? What do you see are the advantages and disadvantages for your business and your future goals? Let us know your thoughts regarding this topic in the comments below!

Kal Kennard is a Partner at Citizens International, a white-glove specialist firm offering private client services necessary for citizenship investment into the Caribbean. Based in the Caribbean for the past 15 years, she is an experienced consultant who works directly with many professional partners and advises clients worldwide.

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