Suggested changes to CIP not too onerous for legitimate investors, Tabor says, and real-estate option has been under- marketed

The proposed amendments to Caribbean governments’ Citizenship
by Investment Programmes – by the European Union (EU) and
United Kingdom (UK) – are very reasonable. Says Damani Tabor, the
United Progressive Party (UPP) public relations officer.

Tabor says these requirements – including a minimum threshold
investment of US$200,000 and the submission of applicants’
names to their law-enforcement agencies for vetting – are not too
onerous if this country wants to attract high-quality investors.

He says that legitimate investors who wish to do legitimate business
– and those who legitimately wish to secure an Antigua and Barbuda
passport by contributing to the National Development Fund (NDF) –
will have no problem with paying the increased minimum of
US$200,000.

Additionally, Tabor says, they will not object to greater participation
in the real-estate option, which, in Antigua, has been under-
marketed. This is so, he says, because the priority of the Browne
Administration has been for investors to deposit money into the
Fund.

Tabor notes, as well, that the Administration should try to take on
board some of the UPP’s earlier suggestions, including re-
implementing an oversight board.

Meanwhile, Tabor says, it appears that the Government is trying to
prepare the Nation for the eventuality of UK-visa requirements.
Because the Browne Administration failed to listen to wise counsel
and exercise international best practices, he says, Antigua and
Barbuda has failed to distinguish itself from some of the other
offending countries.

Accordingly, Tabor says, the country is now “starting behind the
starting line” in terms of defending its position, and this is going to
be going to be very difficult to do. 

He says the CIP must be vigorously defended – because, if it fails,
there will be more suffering of the poor and vulnerable in this
country.