With 241 citizens through the Citizen By Investment Program (CIP) in the first half of 2019, the Citizenship by Investment Unit’s (CIU’s) says 42.79 percent of disbursements were used to settle monthly pension payments.
According to CIU’s reports, operating account disbursements revealed that the largest sum of monies from the program (US $6,000,000) had been disbursed to the Antigua and Barbuda Social Security Board.
The document also disclosed that 10 percent of the US $14,021,046.31 transferred from the CIP account was used to finance the development of educational institutions across the island.
Additionally, US $540,000 went toward improving the broadband service for educational institutions; US $432,000 was used to develop the broadband Internet access for the University of the West Indies (UWI) Five Islands Campus; and US $421,200 funded the purchase of IP network links for the UWI campus.
A significant sum of money (US $297,433.40) was also used to finance parts of the sporting sector.
Improvements to the legislative dynamics of the twin island can also be credited to CIP funds. This includes the legalisation of marijuana of which US $23,760 was transferred.
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As an Antiguan that was born on Antigua soil, I fully 100% support our CIP program. The future of nations will be won or lost by those nations that think globally or not. Antigua must think globally and the CIP program helps do that. Dubai, Singapore and the USA all have various versions of a CIP citizenship or residency program.
Our CIP program is helping Antigua to be seen as a nation that is globally connected and thinking ahead. In addition, it’s providing tremendous funds to help Antigua be a better country.
Lastly, I know many Antigua CIP citizens and I have always liked all of them. They are generally people that are educated, kind, and successful. I welcome our new Antigua citizens with fully open arms!
If CIP money dries up or CIP is terminated for any reason, the ALP will be SCREWED! Social Security Scheme will collapse instantly and the Government will have to suddenly increase taxes and introduce new ones including income tax.
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