Software & Hi-Tech

Citizenship of Antigua and Barbuda: for Digital Media Entrepreneurs

Who is a Digital Entrepreneur?

Digital entrepreneurs are entrepreneurs focused exclusively on digital commerce, and digital commerce is “a subset of e-commerce used to delineate companies that create digital products and services that are marketed, delivered, and supported completely online.”

These individuals are typically not tied to one specific location and can live and work internationally.

In this Case we would like to address some of the most frequently asked question we receive from such clients, on a real-life example.

The Questions

What kind of document would give me visa-free travel around the world, for business and pleasure?

Would I be able to open bank accounts and payment services with such a document?

Online entrepreneurs typically require international bank accounts and payment services in different currencies, for a smoother running of their business, without additional bank fees and transfer restrictions.

Can I become a tax resident of the country of my new residency of citizenship, and what are the requirements?

Can I have my parents to be included to my citizenship application too?

The Clients

Andrei 43, a founder of a successful Digital Media company working with Russian and overseas clients.

Daria 39, Digital Media Specialist, works together with Andrei.

Katarina 3, their daughter and Sergei 12, their son.

Andrei’s parents Pavel 68 and Anastasia 66, both retired

The Problem

Russia; all too often they face issues with international payments in foreign currencies, due to the controls on international transfers and Russia’s policy on foreign currencies. As a result, sometimes the payments go the lengthy way from a client to the contractor, only to be returned to the client’s account because of some regulatory conflicts. At that, these bank transfers build up overseas banking fees every step of the way, causing lots of additional work and fees for our Clients’ business.

In addition to the extra costs, these issues considerably prolong the terms of payments and have a negative effect to our Clients’ relationship with the overseas companies who might be put off by such complications. Furthermore, our Clients wanted to open a company in a different jurisdiction, if possible, with the new passports of their dual citizenship, to avoid the red tape of the Russian foreign currency controls and to reduce their tax burden.

Goals and Objectives

The main goals were to optimize the running of their business and to travel easily around the world to establish new and better business contacts. And last but not the least, of course the couple liked the prospect of enjoying the lifestyle of some of the most beautiful islands in the world.

Not to mention the obvious concern of any parent for the future of their children: Katarina was still quite young but in the future her parents would need to think of her school and university education. Sergei already had a goal to become a doctor. As highly educated professionals Irina and Andrei wanted their children also to receive excellent education and good work prospects for the future.

They also wanted to find such a larger house in Antigua at where Andrei’s parents could have their separate 2-bedroom apartment the garden and pool area being joint with the main residence. The house should have all the latest modern equipment and facilities, practically being a brand new one and locate in a secured area with beaches and restaurants nearby.

Looking for a solution

We proposed the naturalization program of Antigua and Barbuda. The passport of this Caribbean state would give the whole family of six visa-free travel around most of the world, as well to allow opening of bank accounts in Antigua and Barbuda and elsewhere in the Caribbean region, establishing business entities and even relocating their tax residency as needed. We presented them the educational opportunities Antigua has to offer for their children. We also found them two new beach front property developments to choose between in which they can have a larger and smaller house/apartment beside with connected garden and pool areas.

Starting the Cooperation

The Clients made their choice to use our services, we signed the CIP Service Agreement and advised them about collecting the necessary documents. We also arranged a certified translator to serve them with the document translation in English.

The Clients also wanted to see the real estate options available and Andrei and Irina made a 10 days trip to Antigua to have a better understanding about the island and local lifestyle and services. We took care of all their travel arrangements. We showed them the real estate developments best fitting into their needs. They found their ‘dream home’ and signed the preliminary purchase agreement the closing being after they have got their new passports. Our CIP agent advised them about the local Antiguan company formation process and introduced them to the local banks. They were pleased for their visit which made them secured having made the right choice to apply the citizenship of Antigua and Barbuda.

As a result, we managed to collect a full portfolio of the necessary documents with certified English translations and apply for our Clients’ citizenship just in two and half months. Our CIP Agent reviewed the document portfolio carefully and there was found necessary to ask some supplementary documents before sending the application to the authorities of Antigua and Barbuda.

The Results

The whole process took six months from the signing of the CIP Service Agreement until they got the positive decision being granted the citizenship – a quite standard time for a family of six. We were proud to congratulate Andrei and Irina on the approval of their naturalisation application, and on their new life without borders: Now they could travel hassle-free to most countries in the world. Their business has reached new heights, thanks to smoother international transactions.

They all six moved to Antigua and became the tax residents of the Caribbean Community. Andrei and Irina have established a local Antiguan Company and transferred most of their business under this new entity. Their son Sergei has started at a local school where is studying several other foreigners too; he has got many new friends and his English has improved quickly being almost fluent just after a few months. When little Katariina gets older, she will also attend a good school and then one of the top universities, wherever she chooses to go. Andrei’s parents are happy to have their son and grandchildren close to them. They especially like the security and the services of the area where they are now living at.

They are all now sure of their bright and secure future. If you would also like to have a fast and efficient solution for your immigration, business development and children’s education – trust our experts. We will find the best solution in your personal situation, cost-effectively and without ‘middle-men’.

Fee Summary for Dual Citizenship (USD)

The following is the summary of the fees for a family of six, consisting of two parents, children of 3 and 12 years and two grandparents:

Processing fees 6 persons 60,000
Due Diligence fees 5 persons 25,000
Passport fees 6 persons 1,800
CIP Agent fees 6 persons 32,500
TOTAL (USD) 119,300

In addition to the above fees our Clients invested 1,100,000 USD in their chosen real estate.