Cabinet gets update on Russian applicants for Antigua and Barbuda citizenship

The content originally appeared on: Antigua News Room

The Cabinet invited the CEO of the Citizenship by Investment Unit/Program to address the issue of Russian applicants for Antigua and Barbuda citizenship. CLICK HERE TO JOIN OUR WHATSAPP GROUP.

Since the Russian – Ukraine war, sanctions have not only been placed on the Russian Government but also on Russian citizens who may have close relations with the Russian President.

The Cabinet members questioned the CEO intensely, wanting to know the quantum of applicants and financial resources that the country is foregoing as the CIP abides by the sanctions against Russia; that amount is clearly significant and represents a permanent loss to the CIP coffers.

It was also reported that other countries in the Caribbean with CIP Programs have yielded to the sanctions and are not accepting applications from the Russians, at this time.

Many Cabinet members noted, however, that several Caribbean countries exceeded Antigua and Barbuda’s annual CIP revenue intake; this was disputed by the CEO who noted that their distribution system for awarding the agents who garner the files were significantly different from Antigua and Barbuda’s.

The CEO was persuaded that the Antiguan and Barbudan Government far more accurately reports the amounts which flowed to the government’s coffers, than the reported CIP amounts which flowed into the coffers of other countries.

There is no change in the restrictive policy towards Russian applicants since the war in Ukraine triggered sanctions. Antigua and Barbuda is adhering to the global sanctions.

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