Antigua & Barbuda: Antigua to propose the creation of a CIP Regulatory Commission

Home > Antigua & Barbuda: Antigua to propose the creation of a CIP Regulatory Commission

Antigua and Barbuda said it will propose that Organization of Eastern Caribbean States (OECS) members create a Regulatory Commission in an effort to protect their lucrative Citizenship by Investment Programs (CIP).

CPI programs have been placed under the microscope by the United States, European Union and the United Kingdom as they seek to tackle human trafficking as well as clamp down on persons trying to dodge international sanctions. 

EU Parliamentarians recently voted to ask its Commission to formulate a strategy that would eventually see passport holders of Dominica, St Kitts and Nevis, Grenada, St Lucia and Antigua and Barbuda booted out of the Schengen program that allows visa-free stays in member states for tourism and business purposes for up to 90 days.

US legislators are looking at the “No Travel for Traffickers Act” which is designed to penalize countries that operate CBI programmes.

At the post-cabinet media briefing, Information Minister Melford Nicholas stated: “It will be a response to the issues that they have raised. And it will be to demonstrate over and above anything else of our intent to be compliant and sympathetic to issues that they may raise in terms of their own national security.”

The government is also looking to amend the CIP law of 2013 so the program will be known as The Residency and Citizenship by Investment Program.

It will be similar to a program currently operated by the US.

“We may not be able to change hearts and minds in the US congress, but we can diversify our own offering to ensure we are still attractive to investors and investment from other jurisdictions where they are precluded from obtaining citizenship abroad,” Nicholas said.

“So it is broadening the scope of our offering…that is the key behind this requirement looking to modify our program going forward to ensure that we can cushion the impact of any fall that will come from this threat…more from the Schengen countries rather than from the United States.”

Reference: Immigration Investment Council (IMC)

More Posts

Brazil

Brazil Permanent Residency Investor Visa (VIPER)

Brazil offers permanent residency to those investors who invest in business and real estate (VIPER). The duration of the residence depends upon the investor’s contribution to the economy of Brazil. The visa allows you to reside and work in the country. The visa is for those individuals who intend to live in the country for more than 2 years for business purposes. It is sometimes also known as a golden visa.  After 4 years of

direct-regional-portugal

Eligible property options for Portugal’s Golden Visa program  

The Portuguese passport is the 5th largest passport in the world, and the country is known worldwide for its splendid culture, lavishing cities, and economic progress. The government also offers various investment opportunities. The country first initiated the legal framework of Portugal’s residency by investment program, also known as the “Golden Visa,” in 2012. Thousands of people got the Golden Visa for Portugal within 8 years of its initiation and secured their lives in this

Direct vs regional center EB-5 investments: Which is the best investment option for you?

Direct vs regional center EB-5 investments: Which is the best investment option for you?

Post-1990, the EB-5 immigration program enabled foreign entrepreneurs or small businesses to relocate to the United States with families and relish permanent residency status. It aims for foreign direct investment in new business, priming the development of rural and high-unemployment regions. Investors could qualify for a green card in exchange for allowing assets.  Interested businesses must create ten full-time employment opportunities in compliance with the United States and Citizenship and Immigration Services (USCIS). The program

What are the investment options for EB - 5 Visa

What are the investment options for EB – 5 Visa?

The EB-5 visa is one of the fastest routes to get a USA green card for investors and their families. Applying for a green card through the EB-5 visa can take years. Each step in the investment program, from gathering the required documentation to making an investment decision, takes investors weeks or months.    The good news is EB-5 visa provides you with several benefits and makes the initial time invested in the process worth it.

Share:

Send Us A Message