Antigua and Barbuda selling citizenship
Published:Monday | October 14, 2013 | 4:09 PM
KINGSTON, Jamaica (AP):
Antigua and Barbuda is now selling citizenship to wealthy international investors to drum up revenue, officials said today.
Prime Minister Baldwin Spencer said the revenue will help put the country "on the road to sustainable growth and development."
The twin-island nation of some 90,000 inhabitants started accepting applications last week for its citizenship-by-investment program.
The programme is closely modeled on the one offered by nearby St Kitts and Nevis.
The government hopes to generate roughly $550 million over the next three years by attracting some 1,800 new citizens, who have to spend at least 35 days on the islands during the five-year span an initial passport is valid for.
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