CIP Makes Up 15 Percent Of Treasury Revenue

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Prime Minister Gaston Browne has told investors of the positive impact the Citizenship By Investment Programme is having on the country.

Speaking about the positive impact that Antigua and Barbuda’s citizenship-by-investment program has on the country, Browne said the program constitutes 15% of the Treasury’s annual revenue.

“Sovereign equity is about investors ‘buying into’ Antigua. It has helped us pay off our IMF debt in full, develop multiple industries that create employment opportunities for our citizens, and make strategic investments that will benefit everyone on our islands — be that through infrastructure or pensions provision.”

Browne was speaking in Davos where the concept of Sovereign equity was introduced. It is a means for governments to achieve fiscal balance and economic growth without increasing their debt — meaningfully addressing the growing imbalances and inequalities inherent to traditional sovereign debt financing by engaging with the global community of high-net-worth investors.

In a multi-stakeholder public discussion in Davos that brought together government heads and ministers, leading academics, and renowned experts, panelists considered the transformative effects that well-regulated investment migration programs have on the economy and society at large, supporting growth and creating employment opportunities.

Explaining the potential for sovereign equity to bring about a fundamental change in sovereign funding, foreign direct investment, and government spending, Dr. Christian H. Kälin, Group Chairman of Henley & Partners, said: “Sovereign equity is both self-evident and revolutionary. The 2008 financial crisis and its continuing aftermath makes it evident that constantly increasing sovereign debt is not a sustainable solution. In particular, sovereign states without abundant natural resources or the ability to raise significant revenue from taxation must find an alternative – one that will allow them to compete in global markets and avoid the dangerous levels of debt that are serious threats to their economies and societies.”

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7 COMMENTS

  1. Ladies and Gentlemen, please pay attention to whats said here. We paid our IMF debt in full!! That is an amazing accomplishment. Alot of people dont remember Gaston Browne worked foe Swiss American Bank and knows the financial industry very well. UPP is going to have a hard time beating Gaston Browne. We need the UPP to raise their game and step it up or we will never have a competitive political arena. I say this as well because this challenge will force the prime minister to constantly step up his game and stay sharp. The opposition has a job to do, its called check and balances. However, at this time our opposition is hardly capable. Step it up UPP!!!

    • The UPP is a waste of time. PM Browne is doing a good job – he is not perfect, but he is doing very well and I will vote for him again the future. In fact, he is the first Antigua PM that I feel is actually thinking globally and thinking about how Antigua can thrive in the 21st century. Lastly, I would like to say that I love our fellow CIP Antigua citizens, I find them to be very well educated, nice, and just generally good people. Hopefully we can convince more Antigua CIP citizens to actually live in Antigua and be a part of our family here.

  2. I must say I hear a much more coherent message from the DNA. It is a great pity that these opposition parties can’t come together with new young and articulate messengers to put forth a path toward good government . I think everyone is sick of hearing what the UPP did and what ALP did whenever. Let’s focus on the here and now and promote positive and specific proposals to take the country forward.

  3. What happens to all the other debts?? Some of them go as far back before the UPP ever won the government in 2004. Because the IFM debt occurred under the UPP, the ABLP government run and pay it off quick. Or because with the IMF you have to give frequent accountability…monthly or quarterly reports??

  4. Antigua’s CIP program is really good but it would be even better if it bestowed hereditary rights of citizenship on newborn children of Antigua CIP citizens. Currently CIP citizens must pay a fee of $25,000 if they have a new newborn child and if they want to register them as an Antigua citizen. That is not fair at all and seems like it would violate some kind of UN law. Please PM Browne, correct this problem in the next Cabinet meeting and the CIP program will be even more successful. I know many Chinese people that would apply for the Antigua CIP but they are worried about the lack of hereditary right to citizenship.

  5. The UPP has been pretty much consigned to the dustbin of history, and it is their own fault. There is a place for a true “loyal opposition”, of course, working together with and not against the People’s Government, offering wise suggestions and putting forth proposals to help move the Nation ever forward. Gaston Browne will likely be at the helm for at least a generation, as long as he continues to serve the interests of the common people. He moves and operates in the tradition of our wise founders. Indeed, it has been said by many that the spirit of V.C. Bird lives and walks among us. The PM’s philosophy of entrepreneural socialism is moving the Nation ever-forward. We’re on the way to becoming an economic powerhouse.

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