Antigua Selling Citizenships For $250,000 "Investment"

Modeled on other Eastern Caribbean island states

The struggling country of Antigua & Barbuda has joined other tiny Eastern Caribbean islands in selling citizenship to wealthy international investors to drum up revenue, officials said Monday.

The twin-island nation of some 90,000 inhabitants started accepting applications last week for its citizenship-by-investment program, which is closely modeled on the one offered by nearby St. Kitts & Nevis. The government hopes to generate roughly $550 million over the next three years by attracting some 1,800 new citizens, who have to spend at least 35 days on the islands during the five-year span an initial passport is valid for.