Citizenship by Investment Opens, Antigua

ST JOHN’S, Antigua- A Canadian has been named to head the Citizenship by Investment Unit (CIU), which opened its doors on Monday August 26.


Prime Minister Baldwin Spencer told Parliament that Don Myatt would bring a wealth of experience.


“He has over 38 years’ experience with the government of Canada Foreign Service and he has accepted the offer to head the unit for a period of one year with the option to renew for a further year,” Spencer said.


Myatt will run the office located on the third floor of the ABI Finance Center on Redcliff Street, which government is renting for $20,169 a month. Spencer did not disclose the budget for the CIU Unit.


He will be able to rely on the support of consultants Henley & Partners, who the government contracted in June this year for six months and he will report to the Prime Minister’s Office.


Spencer will be required to submit a report to Parliament every six months on the progress of the CIU.


“The expectation is that there will be full disclosure of pertinent information, including the number of applications, the respective investments made, disbursement of investment funds, number of persons who have qualified for citizenship, balance of funds in the investment account and any other relevant information,” Spencer said.


Myatt will soon be supported by a contingent of local staff, including an operations compliance officer, project development officer, financial controller, compliance officer, operations clerk and secretary.


Attorney General Justin Simon said the aim is for an Antiguan & Barbudan to take over Myatt’s position in the coming years.


“The intention is, because the contract is only for two years, that we have somebody local who is an understudy that can take over from him,” Simon said.