May 22, 2020

Citizenship for Bitcoins: Antigua and Barbuda Will Accept Payment in Cryptocurrencies and Euros

Decided to buy citizenship for bitcoins and have already learned the cost of Vanuatu citizenship being available for cryptocurrency for almost a year? If your goal is getting citizenship for bitcoins, you do not have to apply for Vanuatu citizenship by investment anymore. There is a more affordable alternative, citizenship of Antigua and Barbuda for bitcoins. The authorities of this Caribbean country announced amendments to the legislation allowing them to accept cryptocurrency payments when issuing passports to investors, as well as payments in euros and other fiduciary currencies. Find out more below.

There are many reasons to move live in the Caribbean. Life in the Caribbean is full of carefree sunny days, warm sea and relaxation. The Caribbean islands are a great place to not just relax, but also live and work.

Which islands are of preference? Those where you can get registered permanently, getting citizenship one way or another. Read more: Citizenship by Investment in 2020 and 4 Alternative Ways To Get A Second Passport

But when the question arises as to where it is better to live in the Caribbean with a new Caribbean passport, the answer is most often in favor of a country with a valid immigration program allowing economic citizenship. You can take part in such a program if you are ready to make solid investments in the economy of the host country. Read more: Citizenship by Investment: Countries

The Caribbean island jurisdiction of Antigua has its own immigration program. Citizenship by investment of Antigua and Barbuda can be obtained in three ways, in return for investing in a business project / real estate or by making a donation to a fund specifically established for this purpose by the Government. Read more: Citizenship by Investment 2020: From A To Z

Participation in the local immigration program and subsequent immigration to Antigua and Barbuda becomes even more attractive given the temporary discount that was recently offered by this country and is granted to the applicants for investor passports. Read more: Citizenship by Investment 2020. Key Changes

And as experts note, Antiguans had to reduce the price due to the decrease in value of the jurisdiction’s passport after Canada withdrew from the visa-free regime agreement with Antigua. Read more: Economic Citizens Of Antigua Deprived Of Visa-Free Entry To Canada. Reasons, Inconsistencies, Consequences, Risks, Advice and Alternative

Citizenship for Bitcoins: Antigua and Barbuda Innovates

But in all likelihood, the price reduction was not enough. So, Antiguan authorities decided to introduce an advanced payment mechanism within the local Citizenship by Investment Program hoping to attract crypto-investors. Read more: Citizenship for Bitcoins: 5 New Residency Bonuses and Passports For Crypto-Investors

According to Antiguan media, on Monday, July 23, 2018, the Parliament of the Caribbean country issued a special resolution to amend the Citizenship by Investment Act to allow payments in bitcoins or other cryptocurrencies.

The resolution was considered and approved in the lower chamber without any debate. As a result, Antigua, according to local media, officially becomes the first country in the vast Caribbean to receive payments in bitcoins and other cryptocurrency payments under the Citizenship by Investment Program.

But that’s not all. Yet another positive news is that the new resolution also allows participants of the Citizenship by Investment immigration program of Antigua and Barbuda to make payments in euros and alternative currencies other than US dollars (previously the US dollar was the only supported currency).

Citizenship for Bitcoins: Antigua and Barbuda Voices Official Position

“So, we do not only provide the opportunity of making payments in euros, but we also open access to payments using bitcoins and other cryptocurrencies,” said Antiguan Prime Minister and Finance Minister Gaston Browne commenting on the innovations.

The politician admitted that cryptocurrencies “should be worked with cautiously.” But the Prime Minister said that amendments to the Act were necessary because it was “important to ensure the monetary movement.” “If you cannot ensure the monetary movement, you cannot get the money,” he said.

“So, the main idea is that we have a payment mechanism that could facilitate payments in cryptocurrencies,” the Head of the Antiguan Government said, adding that failing to support this payment method is tantamount to imposing a ban on access to the Antiguan immigration program for people who want to pay using this method.

“And the truth is that it expands your market, because we have several cryptocurrency investors who may be quite ready to apply for citizenship but will only pay with cryptocurrency. If you do not start accepting cryptocurrencies you will be literally blocked out from this market,” Browne said.

At the same time, the politician stressed that all payments using cryptocurrency will be converted daily into US dollars (US$) “to guarantee the absence of negative effects of crypto-conversions.”

Citizenship for Bitcoins: Antigua and Barbuda Simplifies Working With Banks

The amendments to the provisions of the Citizenship by Investment Act in question also imply that the local Citizenship by Investment Unit should be given the authority to open offshore accounts for receiving payments.

Commenting on this step, Prime Minister Browne said that the amendments were also needed in response to concerns that local banks could lose their connections and customers when interacting with the CIU and licensed immigration agents.

“A number of agents had to stop working with different banks in the local banking market since, according to the representatives of those banks, their correspondent banks in the USA threaten them with not maintaining their correspondent accounts if they process transactions under the Citizenship by Investment Program. We are trying to give them the opportunity to open accounts with offshore banks, including the Global Bank of Commerce and so on, so that they would have a bank that is ready to service such transactions,” the politician explained.

Citizenship for Bitcoins: Antigua and Barbuda Crushes Rivals

You want to settle in a paradise, having received a passport by investment and having paid for this service with cryptocurrency? Keep it in mind that such an opportunity is guaranteed to the reliable foreigners by Antigua only. You can also get citizenship of Vanuatu for bitcoins just within one month and a half. And you will not need to prove you have relatives in Vanuatu, or even spend a sufficient amount of time in this picturesque Pacific island country. Read more: Citizenship of Vanuatu for bitcoins. Successful Cases, Discounts and Citizenship By Real Estate.

According to immigration experts, both Antigua and Vanuatu have recently become popular havens for people looking for opportunities of a backup plan by obtaining citizenship by investment abroad.

Both these countries are of a sun-soaked paradise kind, offering their residents minimum taxation burden. In Antigua, for example, there is no income tax on local income, as well as on the income received abroad. Read more: What Taxes Do Caribbean Passport Holders Pay After Moving To Their New Home?

Fewer difficulties in cross-border travels will become one of the numerous benefits of your new passports and citizenship for bitcoins of the Pacific island nation called the Republic of Vanuatu or in the Caribbean jurisdiction of Antigua and Barbuda.

In addition to citizenship, you will get passports that guarantee visa-free entry or visa upon arrival/e-visa when traveling to about 13 dozen countries, including the UK and all of the Schengen Area countries without any exception. Read more: Comparing Visa-Free Countries For The Second Passport Holders of Grenada, Dominica, St. Kitts and Nevis, St. Lucia, Antigua and Barbuda, Cyprus, Malta, Vanuatu and The Comoros.

Regardless of which passport you choose, both options can be safely called promising enough. But perhaps it is not necessary to hurry yet. It is quite possible that some other jurisdictions following the global trend and responding to solvent demand will soon be offering foreign individuals the opportunity to purchase a passport and additional citizenship for bitcoins or some other cryptocurrency. Read more: Citizenship By Investment 2020. There Will Be More People Willing To Buy A Second Passport for Bitcoins.

Do not hesitate to contact us and we will introduce you to the most experienced consultant in the field of citizenship by investment. Please email us to [email protected] right now.