There is a global trend among the world’s affluent class. With uncertainty surrounding the globe, and the “new normal” conditions setting in, having travel access to any country at any moment has become a priority and paramount for many ultra-high net worth individuals, giving further need and growth for residence-by-investment and citizenship-by-investment (CIP) programs.
In our exclusive interview, H.E Dr. Dario Item, Ambassador of Antigua and Barbuda to Monaco, Liechtenstein, and Spain, demystifies and explains the growing trend. As an attorney-at-law, he understands the legal complexities of the process and shares how Antigua and Barbuda streamlines and makes the process easier for those who wish to venture and work from the paradisiacal dual-islands.
The global pandemic has introduced such paradigm shifts in security, new workplace setups, and technological adjustments. These new opportunities where one can do their business remotely has made the option of investing in second citizenship even more appealing for entrepreneurs and investors looking to do their business from anywhere, ideally in places such as Antigua and Barbuda, known for its gorgeous beaches. As a result, many ultra high net worth individuals (UHNWI), successful entrepreneurs and travelers have Antigua and Barbuda as their primary choice for secondary citizenship.
New property and business opportunities present themselves for people to choose to invest in and acquire a second, or even multiple citizenships.
Provided that only a proven cure or vaccine can truly catalyze the normalcy of the globe and that it may still take some time for scientists to provide one, having a location setting that is conducive to running a business online is a logical option. Antigua and Barbuda has been attracting many wealthy individuals and families through its Citizenship by Investment Program (CIP). The government has also made residency easier for those who wish to work and live in the country through its Nomad Residency Program.
“There is everything in Antigua and Barbuda. Fantastic beaches, hotels, great restaurants, and amazing people,” says Dr. Item, an expert in international relations.
Dr. Item, a member of the European Caucus of Antigua and Barbuda Ambassadors and Honorary Consuls, also highlights the upgrade in work conditions fit for today’s needs. The government, he says, has already laid out its technological infrastructure that would make its internet connection capable of facilitating individuals or groups to run their businesses from resorts.
Ultra-high net worth individuals who have already enrolled in Antigua and Barbuda’s CIP have the foresight of the benefits, seeing how well the country handled the COVID-19 pandemic. “Individuals wake up looking at the majestic coves and choosing where, from among the 365 beaches, to visit,” Dr. Item says. “It’s paradise.”
Investors enjoy lavish cuisines in restaurants that adhere to health protocols. The technological infrastructure of the island allows a speedy and reliable connection making working from home enjoyable. Access to travel isn’t an issue as Antigua and Barbuda passport holders have the privilege of traveling to 150 countries visa-free. Not to mention the access to the UK and the majority of the European Countries, where citizens can stay for up to six months.
Further research also shows that the government of Antigua and Barbuda is stable and secure. Prime Minister Gaston Browne has been leading the country with clear vision and resolution actions. He has been at the forefront of high-level international meetings manifesting his desire to seek more stakeholders that could support the country. His leadership has been aptly supported by his colleagues in the government, and Dr. Item is one of the many diplomats supporting the leader’s vision.
“As an Ambassador, it is my duty to relay the international policies of Antigua and Barbuda. I do so knowing that our policies are well thought of and beneficial for both our country as well as its visitors”, Ambassador Item explains. He added that he is very “confident that aspiring citizens would find the ultimate Caribbean paradise” in the dual-islands of Antigua and Barbuda.
Photo: View from The Catamaran Hotel. Photo courtesy of the Antigua and Barbuda Tourism Authority
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This article was edited and published by Rick Weinberg, California Business Journal’s Founder and Editor-in-Chief. Click here for Rick Weinberg’s biography.
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