The Government of Antigua and Barbuda is one of few governing bodies in the Caribbean that offers investors the opportunity to become citizens. Under the new Citizenship Act of 2013, the path to becoming a citizen of Antigua and Barbuda can be obtained by the acquisition of real estate on the islands. We are pleased to assist you in this endeavour by offering you the chance to own a luxurious condominium unit at Pleasure Cove Resort & Spa as an investment option.
Once you have signed our Condominium Property Purchase and Sale Agreement, you are well on your way to meeting the requirements for citizenship. Your citizenship application will be submitted to the Citizenship by Investment Unit (CIU), which will conduct the application review process and all of the requisite due diligence procedures.
The Pleasure Cove Resort & Spa Process
Step 1: Make Your Real Estate Investment
- The $10,000 Reservation Deposit is paid upon entering into a Pleasure Cove Resort Reservation Agreement. This reserves a condominium for the investor for a period of 30 days.
- The balance of the purchase price is paid upon execution of a Pleasure Cove Resort Condominium Property Purchase and Sale Agreement.
- Submit, via your licenced agent, your application to the Antigua and Barbuda CIU (this is a legal requirement). For a list of our recommended agents, please contact us.
Step 2: Apply for Your Passport
- Submit forms and citizenship application to the Antigua and Barbuda CIU.
- Pay the mandatory government due diligence fees; these fees are non-refundable.
- Pay a 10 percent deposit on the mandatory government application fees; this deposit is non-refundable.
Step 3: Get Your Approval
The Antigua and Barbuda CIU is required to notify your licenced agent in writing, within three months, of your application status. If your application has been approved, you must do the following:
- Pay all outstanding balances on government application fees.
- Close your property purchase.
- Submit your passport application.
Step 4: Receive, as a New Citizen
- Antigua and Barbuda passport (will be issued once application is approved)
- Certificate of citizenship
Exit Strategy:
- Investors are required to hold their qualifying investment in an approved project for a minimum of five years to retain their citizenship, and must spend a total of five days in Antigua and Barbuda over that five years.
- After five years, the investment may be sold and the new investor may also apply for and benefit from citizenship, transferring the property title after the sale of the unit is completed. In such circumstances, the original investor will be entitled to retain his or her Antiguan citizenship.
- We, Pleasure Cove Resort & Spa Limited, have retained the right of first refusal to purchase the property, if the investor wishes to sell the unit at the end of five years.
- If the investor so chooses, Pleasure Cove Resort Ltd. can also help you sell your unit to a third party through our affiliate the RITCIL Sales & Marketing Company.
