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Antigua & Barbuda becomes latest Caribbean country to sell citizenship to int'l investors

Antigua & Barbuda is joining other Caribbean countries in selling citizenship to international investors.

Prime Minister Baldwin Spencer says the revenue generated by the citizenship-by-investment program will help put the islands "on the road to sustainable growth and development."

A foreigner can qualify for Antiguan citizenship with a $250,000 donation or with a real estate investment of $400,000. A business investment of $1.5 million can also qualify.

Antiguan officials said Monday that they started accepting applications last week.

The strategy is part of a growing trend in the Caribbean to drum up revenue on tiny islands struggling to pay debt.

For years, St. Kitts & Nevis and Dominica have allowed investors to secure citizenship in return for a real estate investment or donation.