The European Union has warned that all Caribbean citizenship‑by‑investment (CBI) programmes must stop issuing passports by 2028, or they will lose visa‑free access to the Schengen area. The warning comes as the EU prepares to roll out the European Travel Information and Authorisation System (ETIAS), which will subject travelers from visa‑free countries to additional security checks.
EU ultimatum and ETIAS implications
- The EU has announced that any country that continues to sell citizenships, regardless of how the programme is administered, risks losing its Schengen visa‑free status.
- Under ETIAS, travelers from visa‑free nations will undergo a manual review. Citizens of Caribbean CBI programmes who were born in countries that still require a Schengen visa (e.g., Nigeria) may face additional scrutiny and possible denial of entry.
- Cases have already occurred where individuals with Caribbean passports were denied entry or deported after border guards identified their country of birth as a visa‑required nation.
Potential impact on Caribbean programmes
- Antigua and Barbuda’s Prime Minister acknowledged the EU demand, noting that the revenue from passport sales—often $150 k to $300 k per applicant—funds infrastructure and development on the islands.
- If the programmes are forced to cease, the governments will need alternative revenue sources.
- A possible market response could be a reduction in passport prices to remain competitive with other non‑EU options.
Price comparison of current CBI programmes
| Country | Approximate cost (USD) |
|---|---|
| Vanuatu | $130 k |
| Dominica | $200 k |
| St. Kitts & Nevis | $250 k (potentially reduced to $150 k) |
Lowering prices could attract applicants from countries with strong visa‑free travel who are seeking a “Plan B” passport, such as the United States, Canada, the United Kingdom, and EU members who express distrust in their own governments.
Vanuatu as an alternative
- Vanuatu, a Pacific island nation, also offers a CBI programme.
- Although Vanuatu lost Schengen access years ago, it continues to attract applicants because of its lower price point and streamlined due‑diligence process.
- The government has tightened due‑diligence and is working to improve the programme, though re‑entry into the Schengen area appears unlikely.
Strategic visa‑free access beyond Schengen
Caribbean passports still provide visa‑free or visa‑on‑arrival entry to many non‑European destinations, including:
- Most Latin American countries
- Several Asian nations (e.g., Taiwan)
- Russia and other Eastern European states
These travel benefits can be valuable for investors who do not require Schengen access.
Alternative pathways to EU residency and citizenship
Applicants concerned about the potential loss of Schengen access can consider other routes:
- EU Golden Visa programmes – investment‑based residence permits that can lead to citizenship after a period of lawful residence.
- Long‑term residency permits – such as digital nomad visas, which grant the right to live and work in an EU member state.
- Citizenship by merit – establishing a business, creating jobs, or making significant contributions to a host country can qualify an applicant for citizenship by exception.
Example: Greece Golden Visa
- A “secret” option allows investors to obtain a Greek residence permit with a €250 k investment, significantly lower than the typical €250 k–€500 k thresholds in other EU programmes.
- The Greek Golden Visa grants visa‑free travel throughout the Schengen area and a pathway to citizenship after seven years of residence.
Practical considerations for prospective investors
- Assess visa‑free needs – If Schengen access is essential, diversify with an EU residency or Golden Visa alongside a Caribbean passport.
- Monitor price trends – Caribbean programmes may lower fees to stay competitive with Vanuatu and other non‑EU options.
- Evaluate due‑diligence standards – Stricter checks can affect processing times and eligibility.
- Plan for contingencies – Holding multiple passports or residency permits reduces the risk of travel restrictions due to policy changes.
In summary, the EU’s 2028 deadline forces Caribbean CBI programmes to either cease operations or adapt their models. Lowering passport costs and emphasizing non‑Schengen travel benefits may help maintain demand, while investors should consider complementary EU residency options to safeguard their mobility.
