In a globalizing world, the story of the Ali family captures the story of a family utilizing the full benefits of citizenship by investment. Through the guidance of Mirabello Consultancy, the Ali family acquired Antigua and Barbuda citizenship, unlocking a brighter future with a stronger passport and a tax haven.
Join us as we detail every step of their experience, offering insights into the process and unveiling the benefits of working with a specialist.
Applicants
Main Applicant - Mr. Ali
Age - 50
Nationality - Egypt
Occupation - Food Export Company (Business Owner)
Desire - Acquire a stronger passport to travel for work and have a secondary offshore account to save on taxes
Spouse - Mrs. Ali
Age - 46
Nationality - Egypt
Occupation - Housewife
Desire - Travel to more countries for vacation
Son - (Student)
Age - 15
Daughter - (Student)
Age - 17
Determining Client Needs
Mr. Ali knew he needed a second passport to further his business needs and did his own research on which countries offered him citizenship. With a peaking interest in Antigua and Barbuda, Mr. Ali contacted Mirabello Consultancy for some insight into acquiring a second passport through investment.
Each family member has their own needs that need to be addressed. Mr. Ali stressed the importance of being able to travel freely to other countries to conduct business and had a secondary interest in having somewhere to keep his funds where they would not be heavily taxed. His wife was just interested in a stronger passport to allow her to vacation to new countries her Egyptian passport was limited from.
Choosing the Right Country
There have never been so many options for a second passport. Many countries are realizing the benefits of offering citizenship and are offering a variety of benefits to potential investors. With many different options, Mirabello Consultancy assesses your needs and finds the appropriate country to consider investing in.
The Ali family had a clear goal and a not-so-clear budget. Weighing their options, we found that their best choice would most likely be a Caribbean country due to their strong passport for travel, little need to visit or live in the country, and low barrier to entry compared to others.
After presenting the possibilities and investments needed for citizenship in each island, we came to an agreement that Antigua and Barbuda was the ideal choice. This twin island nation offers a passport that allows for visa free travel to the Schengen area as well as China, and the United Kingdom. It is also well known for its lax tax laws and booming tourism that attracts real estate investment.
Investment Method
Antigua and Barbuda offers a variety of methods of obtaining citizenship through investment. The two most popular for individuals and smaller families are either a direct investment into the National Development Fund of Antigua and Barbuda or through investing in government-approved property.
Mr. Ali had some money saved up and wanted a return on his financial investment into the country and after giving him a rundown of the real estate market, he decided to purchase a residential property in the island.
Choosing the Right Property
Given the limited space in Antigua and Barbuda with the surge in demand, property values are rising. In order to secure Antigua citizenship, an approved property worth over $325,000 USD must be purchased.
After giving Mr. Ali insights into the market, he decided to purchase an investment property to rent out to tourists for supplemental income. Mirabello Consultancy went ahead and began looking over eligible properties that fit in their budget and were in touristic areas.
Luxury Apartment in Saint Mary
Location: Saint Mary, Beachfront
Size: 1,100 sq ft
Price: $550,000
Bedroom: 1
Bathroom: 1 Full
This great luxury apartment is right on the beach, has an outdoor jacuzzi, and is just a short drive from the capital. Saint Mary is one of the more popular beachfront regions for tourists as there is lush nature, pristine beaches, and sightseeing. This one bedroom can easily be managed by an agency and get great rates during tourist season.
Luxury Apartment in Saint Philips
Location: Saint Philips, Near Beach
Size: 500 sq ft
Price: $400,000
Bedroom: 1
Bathroom: 1 Full
Located on the quieter part of the island, Half Moon luxury suite offers tourists a high class dwelling with a beautiful pool and a great view of the beach. This premium luxury suite has a built-in jacuzzi on the balcony to enjoy the great view and a clean interior design sure to please any tourist.
Waterfront Townhouse in Jolly Harbor
Location: Jolly Harbor, Waterfront
Size: 1,400 sq ft
Price: $485,000
Bedroom: 2
Bathroom: 2 Full
Built with boat lovers in mind, this townhouse has direct access to the harbor. Jolly Harbor is quite close to the capital and has a nice city of its own with all amenities. While this would do better as a vacation house, it would require some more research to consider it as a rental property for profit.
Finding the Right Investment
Based on the needs of the Ali family, Mirabello Consultancy suggested he go with the luxury apartment in Saint Philips in Half Moon Bay. This property has a much larger potential to soar in property value as rapid development is set to take place in the area compared to regions closer to the capital with already higher real estate value.
The luxury apartment could easily be rented out and looked after by an agency, providing a steady stream of income during the peak of tourism season, December to April.
In order to keep Antigua citizenship, the property must remain with the investor for at least 5 years, at which point it can be sold.
Preparing Documents
The Ali family paid a fee of $15,000 for due diligence, to ensure that they are qualified to move forward with the application process. A list of documents needed was sent to the Ali family to prepare and the experts at Mirabello Consultancy began to prefill documents to expedite the procedures.
Submitting Documents
After ensuring that the documents are up to standards, they are submitted on behalf of the family to the responsible governmental department that handles all investment-based immigration in Antigua, better known as Antigua & Barbuda Citizenship by Investment Unit (CIU). Within a few months, the Antigua government sends back a “Letter of Approval in Principle,” ensuring that the applicants are clear to make their investment for citizenship.
With this vital step complete, the Ali family completed their real estate purchase, paid the rest of their remaining fees which totaled around $32,000, and submitted the remaining proof of acquisition to the government. Mirabello Consultancy is always by their clients, ensuring that the process runs smoothly without any unexpected costs or hiccups, keeping clients at ease.
Government Processing and Approval
Within 4 weeks of investing, the passport and naturalization certificate are issued. The documents are delivered to the Ali family and they can officially take advantage of the many benefits of being an Antigua and Barbuda citizen. Within the first five years of acquiring citizenship, the family has to visit the island and take an oath of allegiance which Mirabello Consultancy will organize and plan to ensure a continuous citizenship.
Follow Up
Citizenship in Antigua and Barbuda is permanent under the condition of, holding onto the property during the first five years and completing the oath of allegiance as well as visiting the new home country of Antigua & Barbuda for at least 5 days also within the first five years. Mirabello Consultancy will assist the family in renewing their citizenship as well as adding any new family members who qualify.
The Ali family is delighted to be proud citizens of Antigua and Barbuda, as Mr. Ali is now making more business deals with clients from different countries, Mrs. Ali has more places to vacation, and the family enjoys keeping some of their assets away in Antigua and Barbuda where it is not heavily taxed. Thanks to the guidance from Mirabello Consultancy, they did not have to deal with any bureaucracy and had peace of mind throughout their journey.
The Ali family is just one example of the hundreds of families who have benefited greatly from working with Mirabello Consultancy in acquiring citizenship through investment.
