Antigua and Barbuda proposes ending Citizenship by Investment Programme by 2030

Antigua and Barbuda: Prime Minister Gaston Browne has proposed to discontinue the country’s Citizenship by Investment programme by December 2030, while seeking more time and financial support from the European Union (EU) to manage the transition.

In a letter dated October 30 and addressed to European Commissioner for Internal Affairs and Migration Magnus Brunner, PM Browne outlined the government’s request for an extension following the June 2028 deadline issued by the European Union (EU).

The Prime Minister stated that the additional time would give the nation an opportunity to prepare for the loss of the revenue generated by the programme. The CBI programme supported several public infrastructure, tourism projects, social services, and hurricane recovery.

He also outlined the importance of the CIP to Antigua and Barbuda’s financial position. Citing International Monetary Fund findings, he said that increased programme revenues contributed to a primary fiscal surplus of almost 5 per cent of GDP in 2025.

PM Browne also highlighted the country’s improving debt position, with public debt decreasing from around 101 per cent of GDP in 2020 to 68 per cent in 2025.

He also expressed his concerns about the impact of earlier closure on developers, businesses and financial institutions with existing commitments linked to CIP investments.

As part of the proposed plan, the government plans to conduct an assessment of the financial, economic, social, and legal effects of ending the programme. The findings are expected to be submitted to the European Commission by March 2027.

PM Browne has also requested the European Commission to include an allocation of financial assistance within its funding framework for 2028-2034. He said technical support would be needed to assess the impact of closure, while financing assistance would help the country adjust to the loss of CIP income.

The government is willing to implement additional measures and cooperate with European monitoring during the proposed transition period.

In the letter, the Prime Minister noted that the proposed extension would give the government time to identify other sources of revenue and manage the financial obligations already linked to the programme.

The request follows discussion between Antigua and Barbuda and European Union officials in Brussels on October 20, when the country was presented with options concerning the future of its citizenship programme.

He also asked for the European Union to accept the conditional commitment from Antigua and Barbuda to end the programme in its December report and begin discussions on the proposed transition arrangements.