In the ever-evolving world of digital finance, Antigua and Barbuda has emerged as a trailblazer by allowing investors to acquire citizenship through its Citizenship by Investment (CBI) program using cryptocurrency. This forward-thinking approach caters to crypto enthusiasts seeking a second passport, providing visa-free travel to over 140 countries, including the European Union.
Let’s delve into how you can leverage this unique opportunity and what you need to know to get started.
Antigua and Barbuda’s Crypto-Friendly CBI Program
Antigua and Barbuda’s CBI program stands out due to its crypto-friendly policy, which considers cryptocurrency wallets as legal sources of funds. This initiative is designed to attract wealthy investors who utilize digital assets while helping to address the “de-risking” issues Caribbean banks have faced by offering an alternative payment method.
Just a heads-up – the program doesn’t take cryptocurrency as payment. Before you make the investment, you’ll need to change your cryptocurrency to regular money first.
Here are the key points to understand about using cryptocurrency in Antigua and Barbuda’s CBI program:
- Fiat Conversion: Investors like you must convert their cryptocurrency to fiat currency before making any investments.
- Processing Fees: There may be a processing fee of up to 5% for using cryptocurrency as proof of funds.
- Due Diligence: The program has strict due diligence requirements to verify the source and legality of the investor’s funds, including cryptocurrency assets.
Here is the documentation that you will need in order to apply for the citizenship:
- Personal financial statements
- Brokerage account records
- Other supporting documents proving the legal origin of crypto assets
Application Process with Cryptocurrency
For those opting to use cryptocurrency, the process involves a few additional steps:
1. Select Your Cryptocurrency: Choose an eligible cryptocurrency for your investment.
2. Convert to Fiat Currency: Transfer the required amount to a personal wallet or exchange, then convert it to fiat currency.
3. Submit Your Application: Complete and submit your citizenship application with supporting documents.
4. Due Diligence and Approval: Undergo comprehensive due diligence and background checks, which typically take around six months.
5. Receiving Passport: Upon confirmation of your qualifying investment, receive your citizenship and passport.
The program accepts several popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Authorities have established daily conversion rates from crypto into USD to minimize exposure to cryptocurrency volatility.
Key Benefits of Antigua and Barbuda Citizenship
Obtaining citizenship in Antigua and Barbuda offers several enticing benefits:
- Visa-Free Travel: Access to over 140 countries, including the EU, UK, and Russia.
- Tax Advantages: No wealth, inheritance, or personal income taxes for citizens.
- Dual Citizenship: Allowed without any restrictions.
- Family Inclusion: Citizenship for the main applicant, spouse, and dependent children.
- Streamlined Process: No interview or language requirements.
- No Residency Requirements: No need for prior or post-citizenship residency.
How can Marlow Bray Help You?
Planning to obtain Antigua and Barbuda citizenship? Navigating the process can be challenging, but having access to experts who can provide tailored support is invaluable. A migration specialist and an immigration lawyer can assist you in several ways:
1. Minimize the number of visits to the designated country
2. Benefit from dedicated representation
3. Streamline the citizenship application process
4. Gain insights from seasoned professionals
Ready to take the next step toward second citizenship? Reach out to us by completing the contact form below.
