The CIP Unit Processing About Forty Applications Per Week

The Chief Executive Officer of the Citizenship by Investment Unit was invited to Cabinet to provide a report on the speed (and the due diligence) with which theUnit has been processing the applications for Antigua and Barbuda citizenship under the Citizenship by Investment Program (CIP) Law 2013. The cabinet was advised that about 40 files are processed each week, and that there are about 200 files awaiting processing; foreign exchange restrictions are the primary reason why the examinations have been slowed down. The Cabinet reiterated its decision to accept all hard currencies from applicants who wish to pay in local currencies. The CIU will hold meetings later this week with the banks and other stakeholders that currently service CIP applications, in order to ensure that the rules governing can be conveyed, and all challenges addressed.