The European Union has given the five Eastern Caribbean states that run citizenship‑by‑investment (CBI) programmes – Antigua and Barbuda, Saint Kitts and Nevis, Saint Lucia, Dominica and Grenada – a firm deadline to phase out those programmes by 1 June 2028, with a 24‑month transition period. The move follows a series of EU rulings that have shown a philosophical opposition to “selling” citizenship, regardless of any reforms the Caribbean governments have introduced.
EU actions that set the precedent
- Malta – The European Court of Justice (Case C‑181/23) ruled on 29 April 2025 that Malta’s investor naturalisation route breached EU law by treating citizenship as a transaction. Malta repealed the scheme in July 2025 and replaced it with a discretionary merit‑based system.
- Vanuatu – In November 2024 the EU permanently removed Vanuatu from the Schengen visa‑free list, the first time a third country lost that status. In October 2025 the European Parliament approved a mechanism that makes operating a CBI programme a ground for visa‑waiver suspension.
Premier of Nevis Mark Brantley argued that these cases demonstrate that “compliance now buys nothing” and that the EU is “hell‑bent on closing down these programs.”
Current reforms in the Caribbean
| Country | Reform focus | Recent change |
|---|---|---|
| Saint Kitts and Nevis | “Genuine‑link” overhaul | Phasing out passive contributions; requiring physical presence and economic participation (mid‑2026). |
| Antigua and Barbuda | Residency after citizenship | Bill raised post‑citizenship residency from 5 days to 30 days and placed the CBI unit under independent audit (2024). |
| Saint Vincent and the Grenadines | New programme launch | Plans to introduce its own CBI programme in 2024. |
| Dominica, Saint Lucia, Grenada | No specific reforms noted | Continue existing CBI schemes. |
Economic reliance on CBI
Brantley’s July 7 op‑ed cited his own estimates of CBI contributions to government revenue:
- Grenada – 30 % to 35 %
- Saint Lucia – 15 % to 25 %
- Dominica – 40 % to 60 %
- Saint Kitts and Nevis – 60 % to 70 %
He argued that dependence on foreign investors undermines true political independence.
Diversification plans
The Nevis Premier highlighted three priority sectors to replace CBI income:
- Geothermal energy – Ongoing development projects.
- Agriculture – Expansion of local production.
- Infrastructure & private capital – Including the Nevis airport expansion and the “Destiny Project,” a US$1.3 million dialysis centre funded by developer Olivier Janssens, together with a US$100 monthly stipend promised to Nevis residents pending federal approval.
The Destiny Project remains unapproved. It is the first application under the federation’s Special Sustainability Zone (SSZ) framework and is linked to an anticipated influx of 7 000–10 000 property buyers routed through the CBI programme. Its approval is pending after a July 22 meeting at the Four Seasons involving federal and Nevis officials.
Regional response to the EU deadline
- Joint statement (10 July 2024) – The five CBI states agreed to send a high‑level mission to Brussels to negotiate transition terms, acknowledging that the mission will not alter the EU’s decision.
- Interim vetting measures – Expected to be in place by September 2024, as required by the June 25 letters.
Views on how to handle the phase‑out
- Nuri Katz (Apex Capital Partners) – Recommends accepting the EU deadline, using the transition period for diversification, and negotiating a support package from the EU in exchange for the loss of CBI revenue.
- Rafael Cintrón (Wealthy Expat) – Suggests abandoning the fight with the EU, expanding the CBI programmes into new markets that do not rely on Schengen access, and continuing to sell citizenships despite the EU stance.
All three perspectives agree that the EU is unlikely to reverse its position; the region must either diversify away from CBI or seek compensation for the lost income. The next critical milestone is the implementation of the EU‑mandated interim vetting measures in September 2024, followed by the longer‑term planning for a post‑2028 economy.
Source article: www.imidaily.com
