When stories about HNW migration hit the news, locations such as Switzerland, Italy, Dubai and Abu Dhabi often dominate the headlines.
But certain smaller nations are seeing significant percentage increases in their tallies of millionaire residents, too.
That’s according to Antigua and Barbuda’s High Commissioner to the United Kingdom, Karen-Mae Hill OBE, who told attendees of a Spear’s breakfast briefing that wealthy, globally mobile individuals were increasingly considering the island nation as a permanent place to live. She cited a wave of investment from luxury hospitality brands, a welcoming citizenship by investment (CBI) offering and numerous tax advantages as key attractions.
The tried-and-tested combination of ‘sand, sea and sun’ – as well as its 366 beaches – had long attracted visitors to Antigua, said Hill. However, she added that the current administration was determined to position the country as ‘a real space for living, raising a family, starting a business and continuing a business, and a place to invest in high-quality real estate offerings’.
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At the forefront of Antigua’s efforts is its competitive CBI scheme, which allows foreigners to obtain citizenship and a powerful passport via various routes.
‘It is not an inferior brand of citizenship,’ Hill noted. ‘It is an equal brand of citizenship alongside anyone else in Antigua and Barbuda.’
For investors to gain citizenship in Antigua and Barbuda, there are four pathways: make a USD $230,000 donation to the National Development Fund; make a $260,000 donation to the University of the West Indies; purchase a home worth a minimum of $300,000; or directly purchase a business worth at least $1.5 million as a sole buyer, or worth $5 million as part of a group.
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Alongside this, remote workers looking for a less permanent alternative can access the Antigua and Barbuda Nomad Digital Residence (NDR) programme, which offers a two-year visa, provided they earn at least $50,000 per year.
With no wealth tax, income tax or inheritance tax, and a real estate tax ranging from 0.1 to 0.5 per cent of a property’s market value, Antigua and Barbuda could be an attractive place for HNWs seeking to avoid the most serious consequences of changes to non-dom status in the UK, said tax lawyer James Quarmby.
Quarmby, who is founding partner of the private wealth practice at Stephenson Harwood, said: ‘One of the wrong-headed things this government has done is to not recognise that a lot of HNWIs who are originally foreigners do not spend a lot of time in the UK anyway. They’ve got homes in other places, and what happens is I’ve had clients who have become non-resident by adjusting their living pattern by about 30 days.’
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However, having citizenship or a right to residency in a country does not always entitle individuals to the nation’s tax benefits.
Quarmby said: ‘There’s a lot of misinformation about getting either a residency card or nationality… it doesn’t give you tax residency. I often hear clients say “Oh, I’ve got a residency certificate for Dubai” and I say, “Well, that’s good for you, but it doesn’t mean that you are a Dubai resident just because you’re spending a month in Dubai.”
To be a tax resident of Antigua and Barbuda, a citizen would need to spend a minimum of 120 days per year in the nation, Hill noted.
With property investment valued at a minimum of $300,000 being one of the routes to Antiguan citizenship, the island nation has given the green light to a certain amount of high-end real estate development.
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One leading example is The Residences at Nikki Beach Resort & Spa Antigua, the country’s first branded residences, which will sit on the island’s mile-long Jolly Beach.
The driving force behind the new development is Canadian billionaire Calvin Ayre. The entrepreneur found success as the founder of online gambling business Bodog. He went on to diversify his fortune with early investments in cryptocurrency and is now associated with valuable tech developments in the Caribbean.
‘Calvin Ayre is well-grounded in Antigua,’ said Joseph Valentino, who is leading Nikki Beach Residence Antigua’s sales and marketing with the firm Blueprint Global. ‘He has been there for over 20 years and has numerous investments on the island and has been supporting the island through numerous ventures, such as his financial support for schools,’ Valentino said. ‘He loved Nikki Beach… and has always had a fond experience with the brand.’
The $400 million development will feature 82 hotel rooms and suites, 127 branded residences and seven super-prime beachfront villas. Construction on the resort is expected to begin in the summer of 2026, with the official launch of the residences set for 2030.
Residents of Nikki Beach’s Antiguan iteration will have access to the island’s CBI scheme, as even the development’s most modestly priced property, a $1.2 million one-bedroom home, sits well above the scheme’s $300,000 minimum property investment. At the upper end of the scale, the four-bedroom beachfront villas will sell from $5.5 million. ‘Jolly Harbour is, I would say, one of the best areas of Antigua,’ said Valentino. ‘It has the longest beaches… and Antigua is known for its 365 beaches, one for everyday.’
Adjacent to the beaches are the clear blue waters of the Eastern Caribbean Sea. By creating an environment in which people could enjoy the natural environment, the water, great weather, and yet still manage their international business interests, the developers hope to attract what they have described as ‘nautical nomads’.
‘The nautical nomad is tied in with the people who come to Antigua for the boating,’ Valentino said. ‘It has one of the biggest, if not the biggest, mega yacht charter events every year. A nautical nomad is a person who is enjoying working from their yacht on the ocean and who lives a more calm, Caribbean lifestyle.’
He added: ‘The new game is about having an exit strategy, a way to relocate, have a place to go for your kids, in case things go [downhill] for your country.’
The original Nikki Beach was founded in Miami Beach in 1998 by Jack and Lucia Penrod. It was initially known as Penrod’s Beach Club, but the business was renamed in the memory of Jack and Lucia’s daughter Nicole, who died in a car accident at the age of 18.
Following the death of Jack Penrod at the age of 85 in February 2025, Lucia leads the business with the support of a senior management team.
Nikki Beach has evolved into a global lifestyle brand, with clubs, resorts and restaurants in St Tropez, Saint Barth, Monte Carlo and Dubai among other destinations popular with HNWs.
While Nikki Beach is primarily known as a location for adults, the Antiguan resort is set to be more accommodating to families, said Rémi Delpech, COO of Nikki Beach Hotels & Resorts.
‘We have to remain innovative, creative, to stay in the driving seat,’ he said. ‘We used to be adults only and not very kids friendly, but with the project in Antigua, we revised our operations and we decided to create an amazing kids’ club to incorporate this new demographic.’
‘Nikki Beach brings the right kind of people to the table,’ said Marc Sontag, who headed the development team for Nikki Beach Resort & Spa Antigua. ‘So, from a destination marketing perspective, it is a good thing for the island, as it is attracting both residents and tourists.’
‘I would say that people are emotionally tied to brands and want to be part of the lifestyle that they have to offer, such as that of Nikki Beach,’ he added.
Read here to learn more about The Residences at Nikki Beach Resort & Spa Antigua
