Besides being one of the few countries that allow investors to obtain Caribbean citizenship by investment, Antigua and Barbuda has proven to be at the forefront of digital innovation with a unique investment pathway.
Under Antigua and Barbuda’s Citizenship by Investment (CBI) program, digital assets, including cryptocurrency wallets, are now considered legitimate sources of funds to obtain citizenship.
Some of the major cryptocurrencies accepted include Bitcoin, Ethereum, and Litecoin. Daily USD conversion rates have been set to reduce the impact of cryptocurrency market fluctuations.
Investors can choose one of 33 real estate projects approved in Antigua’s CBI program, some of which accept cryptocurrency as a payment method. These approved properties include high-end resorts, luxury hotel suites, and residential developments.
Why is Antigua leading the way in crypto citizenship?
Crypto citizenship in Antigua and Barbuda is a forward-thinking approach to attract individuals who use digital currencies and address the “de-risking” challenges faced by Caribbean banks by offering an alternative payment method.
The country adopted financial innovation by passing the Digital Assets Business Act in May 2021 and integrating it with its Caribbean citizenship by investment program.
Antigua and Barbuda’s partnerships with blockchain and crypto companies like Dex Algo Technologies Pte Ltd and Token Recovery have made the country the go-to destination for crypto citizenship and financial innovation.
Cryptocurrency Requirements for Antigua and Barbuda's CBI Program
A crucial detail to remember is Antigua and Barbuda’s Caribbean crypto citizenship requirements prohibit direct payment of investments with cryptocurrency:
- Investors must convert cryptocurrency proceeds to fiat currency to make the investment before making the required National Development Fund contribution or real estate purchase.
- There may be an additional 5 percent processing fee when using cryptocurrency as proof of funds.
- Investors must submit detailed documentation, such as personal financial statements and brokerage records, to prove the legitimacy of their crypto assets.
Take a look at our Antigua and Barbuda Citizenship by Investment Ultimate Guide
Citizenship Application Process with Cryptocurrency
- Preliminary due diligence check conducted by an authorized agent licensed by the Antigua and Barbuda Citizenship by Investment Unit (CIU), including verification of the legitimate source of cryptocurrency funds.
- Convert crypto holdings into fiat currency.
- Application, including proof of a legitimate source of funds, submitted by the authorized agent to the CIU for further due diligence checks and approval.
- After approval, make the Antigua and Barbuda National Development Fund or another preferred investment with guidance from the authorized agent.
- Provide the CIU with documentation verifying the investment.
- Receive Antigua passport after approval.
Benefits of Antigua and Barbuda Crypto Citizenship
- The option to use crypto gains and digital assets to acquire citizenship and a Caribbean passport.
- A stable and secure environment to secure crypto holdings.
- No taxes on digital assets held in crypto exchanges in Antigua and Barbuda
- Foreigners investing in the Caribbean island of Antigua and Barbuda gain prime opportunity to capitalize on a rapidly developing digital economy.
The Future of Crypto Citizenship in the Caribbean
Antigua and Barbuda is embracing blockchain technology across its economy. For example, the Digital Assets Bill 2020 shows the government’s pro-crypto stance. The Eastern Caribbean Central Bank (ECCB) introduced the DXCD, a blockchain-based digital currency directed in Antigua and Barbuda.
The DXCD aims to:
- Streamlines transactions by reducing the time and costs associated with processing traditional payments
- Enhanced transaction security and reduce fraud without the region’s financial system
- Minimize the need for intermediaries and brokers, lowering transaction fees
- Modernize the Eastern Caribbean’s financial infrastructure, expanding the adoption of digital payments
- Expanding financial accessibility by supporting broader economic development and growth
These developments highlight the growing appeal of Caribbean citizenship. By taking advantage of Antigua and Barbuda’s progressive approach to blockchain, digital investors can enhance their investment prospects and international mobility through the island’s crypto-friendly CBI program.
