Cabinet held extensive discussions on the Citizenship by Investment Program (CIP)

(CabinetNotes)The Cabinet held extensive discussions on the Citizenship by Investment Program (CIP) and the attack on the program which the European Union and the U.K. seemed to have launched against the OECS states which operate CIPs. The EU has made a number of proposals (to the OECS countries operating CIP programs) that Antigua favors. For example, the EU proposes that the states return the minimum threshold to US$200,000. The minimum is now US$100,000. Secondly, to change the minimum in real estate investment to US$400,000. Antigua and Barbuda’s real estate investment amount is US$400,000. Several OECS/CIP states have expressed a lack of faith in any EU promise not to create barriers that would make their program less competitive. The EU proposal also requires submission of the names of those seeking citizenship to their police agency.