On July 23rd, 2018, the Parliament of Antigua and Barbuda made several important updates to their Citizenship by Investment Act. Most notably, the Antigua and Barbuda Citizenship by Investment Program (CIP) will now accept cryptocurrencies and EUR as valid forms of payment for their program.
This will be the first CIP in the world where the government directly accepts payment and assets from investors in bitcoin and other cryptocurrencies. Most other CIP programs currently just accept US dollars.
The purpose of this amendment is to expand the CIP market by facilitating increased “movement of money” and attracting investment from crypto-millionaires who have previously not had a chance to participate in the CIP arena. As a precaution, any funds received in crypto will be converted to US dollars every day.
Mr. Gaston Browne, Antigua and Barbuda’s prime minister announced: “So not only are we providing the capacity for payment in Euros, but we are also proving for payments using bitcoin and other cryptocurrencies.”
At HNWI, we’re following these developments in Antigua and Barbuda closely and will send out an update as soon as we know the exact type of currencies that will be accepted.
Please don’t hesitate to contact us with any questions.