Antigua and Barbuda’s Parliament has modified the Citizenship by Investment Act to welcome crypto-currencies, as well as euros, to be used as a payment method for its Citizenship by Investment Program. Prime Minister Gaston Browne made the announcement and expected the move to open new markets and attract applications from potential crypto-millionaires.
“So not only we are providing the capacity for payment in Euros, but we are also providing for payments using bitcoin and other cryptocurrencies,” said Prime Minister Browne, as he acknowledged the importance to be careful in handling crypto-payments.
He also stated the policy change was needed, because “moving money is important and if you cannot move money you cannot receive it. So, it is quintessential that we have a payment mechanism that could facilitate payments in crypto-currencies”.
Not allowing that method of payment, Browne argued, could exclude people from the program who want to pay using this method.
“And the truth is too, it expands your market because we have a number of crypto-currency investors who may be quite willing to take up our citizenship but would only pay in cryptocurrencies”, he told parliament.
“If you do not accept the cryptocurrency then you would be literally locked out of that market”, he added.
Browne said, to attenuate the risk with volatile crypto-currencies, any funds received as this payment method would be converted to US dollars every day.
On the other hand, a related amendment to the CIP regulations will allow the Citizenship by Investment Unit to open offshore accounts for receiving payments.
“What we are trying to do is to give them the option of establishing accounts with offshore banks including Global Bank and Commerce and others, so they have the option of having a bank that is willing to accommodate their transaction”, he explained.
Antigua and Barbuda Citizenship by Investment Program provides the opportunity to obtain Antigua & Barbuda passport and gain all benefits enjoyed by its citizens, including visa-free to 140+ countries including Schengen States, UK, Switzerland, Hong Kong and most British Commonwealth nations.
All these advantages have positioned Antigua & Barbuda CBI program as one of the most desired in the market, with thousands of applications received each year.
The process is fast-tracked, meaning the passport is granted after 3-6 months of applying, and the minimum amount to invest is USD 100,000 plus legal and professional fees for a family of 4 members.
A Limited Time Offer is available under certain conditions; an investment of USD 200,000 can also qualify applicants and their families under the real estate option.
Savory & Partners welcomes the amendment to the Citizenship by Investment Act announced by Prime Minister Gaston Browne and encourages crypto-millionaire investors to obtain Antigua & Barbuda Citizenship and Passport and become citizens from one of the most beautiful Caribbean islands.
As a Government-Approved agent, Savory & Partners has accompanied and assisted hundreds of families across the Middle East in securing their Antigua & Barbuda Citizenship and Passport. You can contact us today for a free consultation and learn about all benefits of Antigua & Barbuda Citizenship and Passport by Investment Program.