The Antigua & Barbuda Citizenship by Investment Unit’s (CIU) new Chairman of the Board is Jeff Hadeed, a versatile entrepreneur born in Trinidad & Tobago but who grew up in Antigua & Barbuda. After studying in the US, Jeff managed a family business in St Maarten before studying fashion design in Italy. He returned to Antigua & Barbuda to manage the family’s garment manufacturing company and became the owner of the Big Banana Holding Co, a well-known bar and restaurant group. Over his career, Jeff has opened multiple restaurants, including The Beach, The Larder and MAIA at South Point. He started North Coast Marine, a boat sales company, an Italian fashion boutique, “Milano”, as well as becoming the developer of South Point Antigua – a 23-suite condo hotel project in English Harbour. He has also managed properties for Giorgio Armani and served as Antigua & Barbuda’s Consul General and non-resident Ambassador to Italy.
Can you share some insights about your background and how you became involved in so many fields?
I would say that I like to create. I also have so many ideas for the development of Antigua & Barbuda, and I want to do them all. I see business as my creative outlet, and that is what drives me to start many new projects.
Excelling in diverse fields can be challenging. What motivates your entrepreneurial spirit and enables you to succeed?
Again, being creative and a perfectionist, I always want to see things developed in excellence in every detail. In addition, as a perfectionist, I am somewhat of a controller, so I am involved in the development of all aspects of my businesses. Therefore I am also prepared to work long and hard to get what I want the way I want.
What will all your experience bring to the table as Chairman of the Board at the Citizenship by Investment Unit?
I am of the view that the CIU, while being a Government department and, to a great extent, a regulatory body at the core, it is also a business and a competitive one at that.
My goal is to bring private sector thinking and approach to the Unit’s operations – emphasising a customer service focus and a performance-driven attitude to operations and marketing. This also means developing all aspects of the business, especially the HR component, which is critical to the Unit’s success.
“Antigua & Barbuda, as a second or even a first citizenship, is inherently good from all aspects.”
From your perspective, what are the key strengths of the citizenship by investment programme in Antigua?
I would say first and foremost that our programme is quite exacting, well-regulated and adheres to high standards of compliance and due diligence. Additionally, Antigua & Barbuda, as a second or even a first citizenship, is inherently good from all aspects. What’s more, the country possesses an excellent level of development, a strong legal framework, and an advanced infrastructure providing any citizen opportunity for business, work and education, as well as a cultural and social outlet.
As an entrepreneur with experience in many sectors – if someone were considering starting a business in the twin islands, what advice would you offer them?
I suggest getting to know how the island operates, learning to understand our people, and, if possible, finding a good local partner or manager to help you navigate.
Drawing from your extensive real estate experience, what advice would you give to potential citizenship investors considering the real estate option?
I would say, first and foremost, the potential investor should be clear about their own objectives. Next, they should look at all the available options and be sure to understand the geography of the island, especially as it may or may not align with their own motivation for a real estate purchase. Then they should be sure to get to know the people with whom they are dealing, i.e. their agent/broker. And they should be sure they feel comfortable with the developer behind the project in which they are considering their purchase.
Real estate purchases are big-ticket items, and they are for the long-term, so research is important before making the step.
Are there specific investment opportunities in certain fields that you would like to highlight?
The obvious ones are in real estate, agriculture, and tourism development, but there is still a lot to develop in Antigua; it really depends on the scope of the investment budget.
How have you seen the industry evolve in response to events over the past few years?
I would say the most notable thing has been the response to the pandemic and many digitally driven services to help navigate the new paradigm. I think people are now reflecting on how this period impacted their lives and are now looking for a Plan B to mitigate the impact of similar events should they occur again.
How is Antigua & Barbuda actively ensuring the programme’s competitiveness and attractiveness?
We are presently reviewing our entire programme offering and looking at modifications that will support a more attractive yet high-quality programme, especially as it compares to our Caribbean counterparts. This review is not one-sided but is being done in conjunction with our stakeholder partners to ensure that we consider all ideas and aspects. Without saying too much, we will soon be launching a very attractive programme. We are also reviewing every aspect of the CIU itself, primarily operations, our HR and IT.
Could you share your favourite spot on the island with us?
I am not sure I have one; so many parts of Antigua & Barbuda are similar yet unique in their own way. If I had to be more specific, for beaches, I would definitely say the west coast, and for dining, English Harbour.