Antigua uses citizenship funds to launch film industry

Antigua is going to Hollywood, with the launch of its own film industry. The Caribbean nation will use funds from the country's Citizenship Investment Program, which allows investors to obtain a passport in exchange for $400,000 of investment, to cover half of the budget for producing five feature films.

"Traditional financing levers such as foreign sales, tax credits, co-productions and a domestic deal will cover the rest," reports Variety.

"The idea is to give the people of Antigua the opportunity to participate in new industry other than tourism," St. Kitts-born producer Rudy Langlais told the publication. "We are in talks with Lantica Media, (which owns the Pinewood Studios in the Dominican Republic) and Puerto Rico for potential partnerships."