If you are constantly dreaming about settling somewhere in the Caribbean or South Pacific, this is the news you’ve been waiting for. The government of an independent Commonwealth country in the West Indies in the Americas, Antigua and Barbuda, has decided to give citizenship for a certain amount of cryptocurrencies, mainly Bitcoin.
As a reminder, a tropical island between northern Australia, New Guinea and Fiji, Vanuatu, has launched the same program in October 2017.
The country’s Investment Programme Act will accept payments in the form of BTC and other digital assets at the price of $100,000 USD or less than 13 units. All investments will finance the National Development Fund, as previously determined by the latest government’s resolution on cryptocurrencies.
Safe Payment Mechanism
According to Antigua’s prime minister and minister of finance, Gaston Browne, the country is not only able to provide payments in Euros, but cryptocurrencies as well…
However, Browne admits that working with virtual assets needs to closely monitored, due to the huge gaps regarding transactions and liquidity. It is of utter essence to create and maintain a strong payment mechanism that will guarantee safety for both moving and receiving crypto money, added the prime minister.
Market Expansion
Another key point in facilitating CIP payments is the expansion of market and there is a huge number of cryptocurrency investors who are willing to take up citizenship in exchange for Bitcoin. At this time, denying crypto assets can lock you out of the market, acknowledged prime minister Browne.
The parliament of Antigua and Barbuda reduced the price for citizenship in October 2017, due to the program’s inability to compete with the neighboring countries. For example, Dominican Republic earns approximately $50 million per month through its NDF plan which is 83 times more from what Antigua has generated - $600,000 from only three new citizens.
Mr. Browne also confirmed the government’s efforts regarding the translation of all virtual currencies through CIP into fiat currencies to ensure total transparency and exposure.
coolsongss 5 years ago
Is Antigua and Barbuda still welcoming the payment via Bitcoin of 13 units ? Probably not, because it is worth only 70,000 USD. If they really want to raise the development funds, I think that they should pursue some more table method...
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jade 5 years ago
Now that is interesting. Wonder if they have extradition agreements with other countries, ha, ha, ha, ha......... Well, think about it! I bet some people have, just that! It is a lot harder to become a citizen of most other countries. This way, you just have to know how to count out enough bitcoin and of course,...
Now that is interesting. Wonder if they have extradition agreements with other countries, ha, ha, ha, ha......... Well, think about it! I bet some people have, just that! It is a lot harder to become a citizen of most other countries. This way, you just have to know how to count out enough bitcoin and of course, have enough to count. It's not for me, well, right now it's not, but who knows. Surely, it must appeal to someone, just because.............
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fredos386 5 years ago
I wonder who wants to pay that much to move on a tiny island. I mean people with the money will be able to go pretty much everywhere they want so why go there? And people that would improve their lives from moving there usually probably don't have that kind of money. I don't get it.
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sharpe 5 years ago
Wow, what about that for a news! The price and the currency didn't matter in this particular case I think, it's weird that a local citizenship is for sale at first place, I don't know it's that a usual practice or not in some countries but it doesn't look right to me. I believe they in Antigua & Barbuda should change...
Wow, what about that for a news! The price and the currency didn't matter in this particular case I think, it's weird that a local citizenship is for sale at first place, I don't know it's that a usual practice or not in some countries but it doesn't look right to me. I believe they in Antigua & Barbuda should change their criteria and making sure the people who apply for a citizenship there are not criminals or something but obviously they are more concerned about their selling business.
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Alex and R 5 years ago
I reckon that people with 13 BTCs probably have a lot more in their pocket. Luckily, there are individuals with money who know how to enjoy life and appreciate its most neglected values and beauties: nature, sun, beaches, or a quiet piece of mind. Just google this small piece of heaven and you'll get a much wider picture.
I reckon that people with 13 BTCs probably have a lot more in their pocket. Luckily, there are individuals with money who know how to enjoy life and appreciate its most neglected values and beauties: nature, sun, beaches, or a quiet piece of mind. Just google this small piece of heaven and you'll get a much wider picture.
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Kristen Munoz 5 years ago
at first look at just skim of the headline of this article i was a bit shocked , it sounds crazy like unreal , but then i recall reading a past article about how much of these people are in need of a source of econmy . they have close to nothing as far as resources to out source so it makes sense . gotta do what you have...
at first look at just skim of the headline of this article i was a bit shocked , it sounds crazy like unreal , but then i recall reading a past article about how much of these people are in need of a source of econmy . they have close to nothing as far as resources to out source so it makes sense . gotta do what you have to !
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zuga 5 years ago
quite an interesting way to promote bitcoin/crypto but also attract investments.
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Sylvanas 5 years ago
I'd be off already sipping cocktails on the beach if only I listened to my inner voice that said buy bitcoins now, you fool. I only need 13 more
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Mojo Jojo 5 years ago
13 is a high number for a citizenship of that country, not only that, 13 is also an unlucky number...Personally I won't even think about it. With 13BTC you could have a good life wherever you are so why give that amount BTC away for a citizenship? Put that money in the bank and if you are smart enough you could live from...
13 is a high number for a citizenship of that country, not only that, 13 is also an unlucky number...Personally I won't even think about it. With 13BTC you could have a good life wherever you are so why give that amount BTC away for a citizenship? Put that money in the bank and if you are smart enough you could live from the interest and the money remains untouched.
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BralasLT 5 years ago
Cool, I’m totally game! Drinking pina colada, tanning, swimming and gaming… what else could you possibly want? Just need to win a couple of more Bitcoins and I’m off!!
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