Residency vs Citizenship by Investment: Which one is Better Option?

As we all know obtaining a second passport and elite residency has become the common trend across the globe among entrepreneurs, professionals and high-net worth individuals. Primary aim of acquiring any of these residency and citizenship in a foreign state is to enhance personal status and eligibility to avail profitable tax-free investment opportunities in second home along with the visa-free travel to several countries. Antigua and Barbuda is a small twin island state located between the Caribbean Sea and the Atlantic Ocean. This territory consists of two major islands and a number of smaller islands.

Having been associated with European Union and Schengen Area, Caribbean countries have become the center of attraction for investors, businessmen and wealthy individuals; who are looking for suitable residency and citizenship option. After observing the rising interest of such foreigners, Caribbean countries started offering a multiple kinds of citizenships and residency programs to allocate native rights. After availing this opportunity, individuals are not only become lawful residents, but also gain visa free access to approximately 130 countries in the world along with European and Schengen countries.

What is difference between residency and citizenship?

Although both of the programs offer legal rights to live in the country, temporary residency is different from citizenship. Former option only delegate living option, whereas the second option, of citizenship option issues candidates country passport and national ID card to deliver them complete rights to work and invest in the territory. Antigua started temporary residency to facilitate individuals who are living and working as foreigners in the island. However, this permit is no longer active as State government has terminated it. Now residency permit only allow candidates living in the country.

Why authorities terminated former temporary residency offer?

Authorities have carefully observed and analysed the process of country’s immigration, work permits and voting system; they showed their concerns about this temporary resident certificates and requested authorities to discontinue this offer. They have concluded that the program only empower candidates to live in the country without giving them any rights to work and invest in the country, they pointed out it a useless offer which is adding no value not only for the country, but also for the candidate. Soon with the introduction of this new residency permit, individuals are required to pay delinquency fee if they fail to legalise their status in the country.

What is most suitable way to become the native citizen?

Antigua citizenship by investment is a fool proof way to become the native citizen of this country. The economic citizenship program facilitates individuals not only for visa free travel but also provide them benefits of business expansion and tax relief. With shortest application processing time of three to four months and inclusion of dependent children with the age of less than 26 years and grandparents over 65 years make this program feasible for families. Further no requirements to travel to Antigua during the application process, no interview, no requirements of education and work completely simplify the process.