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Second Passport from the Most Economically Growing Country
Choosing a second passport through investment from a country with the high economic growth rate in 2024 is a profitable option for investors.
Investing in Antigua to obtain a second passport is a great opportunity for individuals due to many factors, including its geographical location, beautiful beaches, and warm climate, not to mention the diverse economic opportunities that have increased the growth of the GDP.
Therefore, it is no wonder that many international celebrities such as Oprah Winfrey, Giorgio Armani, and Silvio Berlusconi have chosen Antigua and Barbuda as a destination for settlement and investment.
Second Passport from the Most EGC in the Region
The term second passport refers to one of the direct programs for obtaining citizenship and a second passport for businessmen and those aspiring to freedom of movement after investing in countries that offer this type of program, such as Antigua and Barbuda.
In addition to the Antigua and Barbuda Citizenship by Investment Program, which has been the biggest factor in boosting the country’s economic growth, some industries have also played a role in boosting Antigua and Barbuda’s economy.
In the latest report of the United Nations Economic Commission for Latin America and the Caribbean, Antigua and Barbuda was ranked as the best and fastest growing economy in the Caribbean and Latin America region.
The report, prepared by the 2024 Caribbean and Latin American Economic Survey, stated in its content that the islands of Antigua and Barbuda, known as Antigua and Barbuda, achieved a growth of 6.3 percent in GDP.
The report relied on several factors in calculating its data, most notably the low growth trap, climate change and employment trends, and compared the countries to calculate the highest local economic growth.
In light of recent reports, studies have shown that economic spending is the key point for the success of each country’s economic growth, which is why Antigua and Barbuda chose tourism as the second major economic spending to boost the economy.
The impact of the furniture, handicrafts and electronic components industries in boosting the economy was also evident, and finally the blue economy played a pivotal role in this development, which means the sustainable use of ocean resources to boost the economy and enhance the health of the ecosystem at the same time.
Economic growth rates for Caribbean and Latin American
~ GCC
The report indicated that 6.3% is the growth rate in Antigua and Barbuda, and no other country in the region comes close to this figure after reaching 4.8 last year, and growth is expected to continue in 2025 with the same promising economic practices.
It is worth noting that the Dominican Republic, which came in second place with a growth rate of 5.2%, is the most famous economy in the Caribbean region and remained in the lead for many years before Antigua took over the top, while the other three places were Saint Vincent and the Grenadines and Dominica. On the other hand, some growth rates in Latin American countries came as follows: Argentina -3.6%, Brazil 2.3%, Mexico 1.9%, Colombia 1.3%.
Importance of Second Passport from Strong Economic Country
1. Attractive Investment Policies
Antigua and Barbuda has worked to attract foreign investment to the country, particularly through the Second Passport Program, which simplifies business operations and offers generous incentives to investors looking to set up businesses in Antigua.
The tax-free policy is another attractive factor for traders and high net worth individuals, as the Antigua and Barbuda government does not require you to pay any taxes in many cases, most notably capital gains, foreign trade, income tax, and inheritance tax.
2. Different Business Opportunities and Sectors for Investment
From real estate investment to obtaining a second passport from Antigua, to many business sectors to choose from for investment in Antigua. The renewable energy sector is one of the promising investments in Antigua, given the country’s intention to reduce its dependence on fossil fuels and instead rely on its abundant natural resources.
In addition to real estate and renewable energy investments, Antigua’s growing financial sector has seen significant growth recently, including offshore banking, investment funds, and other financial instruments. And, with Antigua’s rich beaches, diverse marine life and historical sites, tourism is the cornerstone of Antigua and Barbuda’s economy.
An Ideal Second Passport from Antigua and Barbuda
Antigua offers a second passport to investors and their family members after investing in Antigua’s real estate sector or making a contribution to the Antigua government, including the University of the West Indies Contribution Program.
With an Antigua passport, you will be able to enter over 145 countries without a visa, for example, you can spend 6 months in the UK per year and 90 days in any Schengen country every 180 days, plus many more.
The advantage of the Antigua program is not only obtaining a second passport for mobility, but also the fact that Antigua has stunning natural beauty, investor-friendly tax and business policies and diverse investment opportunities in a country that has seen tremendous economic growth in recent years.
Have you decided to move and set up a business in Antigua and Barbuda? Or just get a second passport from there? Antigua does not require you and your family members to reside before or after obtaining a second citizenship there. Contact one of our Citizenship by Investment expert Advisors to guide you on the right path in your journey to obtain citizenship of Antigua or any other country around the world.
About Author
Taher Shehab
As co-founder and CEO, Taher Shehab has guided Global Citizen Consultants to be a leader in providing citizenship by investment in over 20 territories, including the Caribbean.
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