The Government of Antigua and Barbuda is seeking financial assistance from the European Union as discussions continue over the possible phase-out of the country’s Citizenship by Investment Programme (CIP).
Prime Minister Gaston Browne has warned that Antigua and Barbuda could face an annual revenue loss of approximately $100 million if the programme is discontinued, arguing that European authorities should consider providing budgetary support to help offset the potential economic impact.
Speaking on the Browne and Browne Show, Browne said the government had also requested a socioeconomic assessment examining the consequences of ending the programme, including the possible implications for visa-free travel arrangements.
The Prime Minister explained that regional leaders from countries operating citizenship-by-investment programmes had discussed a coordinated approach to negotiations with the European Union.
According to Browne, the EU had requested a commitment by November 12 concerning the discontinuation of the programme, with a proposed transition period extending to June 2028.
However, Antigua and Barbuda has requested that the transition period be extended until December 2030. The government argues that additional time would allow for an orderly adjustment and the fulfilment of existing contractual obligations.
Browne confirmed that the government was awaiting a response from European authorities. No financial assistance package or revised deadline had been announced at the time of publication.
The issue is expected to remain an important part of Antigua and Barbuda’s economic discussions, given the programme’s contribution to government revenue, investment and national development.
