The Government of Antigua and Barbuda has introduced the University of West Indies Fund (“UWI”) option, as the fourth investment route under the citizenship by investment program (“CIP”).
The UWI fund contribution is set at $150,000 – inclusive of Government processing fees. This makes this new option attractive for large families who are interested to apply for the Antigua and Barbuda CIP.
Only large families of 6 persons or more can apply for this route. It is also important to remember that UWI is the cheaper option for large families (6+) compared to the NDF fund.
The Antigua and Barbuda CIP remains one of the attractive citizenship programs for families. Some of the benefits of citizenship include:
- Antigua and Barbuda is the fastest growing Caribbean economy.
- Luxury Caribbean escape with white beaches, blue waters overlooking Caribbean sea.
- Processing time and fast track passport are possible in 3 months.
- No personal visit required to receive initial passport issued for 5 years (however important to note is a visit of at least 5 full days per person will apply afterwards within the first 5 years of its passport validity).
- Visa free travel to UK, Russia, Schengen area over 145+ countries and territories
- Commonwealth citizenship and passport for families
- Residents are free from capital gains tax, inheritance tax and, since April 2016, personal income tax.
- USD 150,000 (family of six or more)
- Government Processing Fee: included
- Additional dependents fee: USD 15,000 per person
Due diligence fee:
- USD 7,500 (main applicant / spouse)
- Child 12-17 – USD 2,000 /person
- Adult 18+ – USD 4,000 /person
- USD 300 / person
The processing time for citizenship is expected 3-4 months under this new option. All applicants have to undergo thorough background checks before being approved of citizenship under the investment program.
This program entitles one member of the family to a one-year, tuition-only free scholarship at the University of the West Indies.
FIFTH CAMPUS OF UNIVERSITY OF WEST INDIES
On May 27, 2019, the University Finance and General Purposes Committee (UF&GPC) approved the establishment of Five Islands Campus as The UWI’s 5th Campus and its 4th landed Campus, located in Antigua and Barbuda.
The proceeds and revenues of the UWI fund will benefit the University of West Indies Campus education making Antigua and Barbuda a center of education in the Caribbean region.
The campus provides significant educational benefits to students putting Antigua squarely on the map, bringing much-needed skills, talent, and intellectual knowledge to Antigua and Barbuda propelling the country to an education destination. Several former Prime Ministers and Nobel prize winners were previous students of UWI campuses.
The OECS region will also benefit from this institution which constitutes a significant part of the CARICOM family with a population of approximately 600,000 citizens, of which 102,000 reside in Antigua and Barbuda.