For immediate Release: St. John’s Antigua, August 28, 2019
A leading voice in the
global luxury market, Rob Report, is highlighting Antigua and Barbuda as a very
lucrative second home for ultra-high-net-worth individuals around the world.
The report titled “Business Executives Are Buying Second Nationalities. Here’s Why” provides an invaluable source of insight and expertise on the reasons wealthy businesses owners realise the need to own an alternative nationality, and the valuable return for the host country ssome of which include access to enhanced opportunities, safety and security, or recourse to a Plan B in uncertain times.
“For the countries that sell passports, especially the smaller Caribbean islands, those fees can really add up. Take Antigua: More than $400 million has been generated there through citizenship investment, which represents about 15 percent of annual government revenue and 20 percent of all foreign investment. Speaking in the boardroom of his office, which overlooks Buckingham Palace, Kaelin describes the passport trade as “globalization at its best.” Rob Report Author, John Arlidg
A major player and industry leader in the Citizenship by Investment (CBI) Industry, Henley and Partners, is playing a pivotal role in partnering prospective CBI investors and host countries. Henley & Partners together with the host government executes a rigorous investigation prior to approving applicants and ensure that the candidate is capable of investing in the host country. All applicants undergo the strictest due diligence procedures even before they are accepted as clients and again before their applications are submitted to the relevant governments, which then themselves conduct their own further and very thorough due diligence.
“Antigua and Barbuda continue to improve its position as a preferred CBI destination. With Antiguan and Barbudan citizenship, a potential investor can expect to enjoy the travel convenience of visa free access to approximately 150 countries. In addition, an investor will gain an inside look into a number of exciting and attractive real estate and investment opportunities, and will experience an ease of doing business within a safe and hospitable environment. For us, as the host country, we benefit directly from these investments through increased job creation, infrastructure development, and an overall improved standard of living” explains Managing Partner of Henley & Partners Antigua and Barbuda, Gaye Hechme
For countries like Antigua and Barbuda, the CBI programme has managed to keep its economy afloat. The economic fortunes of Antigua and Barbuda were hit hard during the global economic crisis of 2008 with a loss of ten thousand jobs. Fortunately, there has been a resurgence in the economy since the introduction of the CBI Programme. Over $400 million has been collected through citizenship investment, which represents about 15 percent of annual government revenue and 20 percent of all foreign investment.
“ If we didn’t have that CIP Programme, the economic fortunes for Antigua and Barbuda would have been significantly different. There would be fewer people working and certainly, our debt to GDP would have been much higher. People would have probably continued to be losing their homes, their cars, their boats. We have now seen a reversal in those fortunes in which people are buying more homes,” admits Prime Minister of Antigua and Barbuda, Honourable Gaston Browne
The Caribbean remains on high demand to potential CBI clients because of its visa-free or visa on entry access to over 150 destinations, including the European countries and countries in the Schengen area.
About Henley & Partners
Henley & Partners is the global leader in residence and citizenship planning. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 30 offices worldwide.
The concept of residence and citizenship planning was created by Henley & Partners in the 1990s. As globalization has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors whom we proudly serve every day.
The firm also runs a leading government advisory practice that has raised more than USD 8 billion in foreign direct investment. Trusted by governments, the firm has been involved in strategic consulting and in the design, set-up, and operation of the world’s most successful residence and citizenship programs.