Caribbean Governments Form Unified Front Against EU Proposal to Phase Out CBI Programs

The leaders of five Caribbean countries operating Citizenship by Investment (CBI) programs have agreed on a joint response to the European Union’s proposal to phase out such schemes. The decision was reached during a high-level meeting held in Dominica on 10 July.

Caribbean Governments Present a Unified Position

The meeting brought together the prime ministers of Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia. The Prime Minister of Saint Vincent and the Grenadines, whose government has previously announced plans to introduce its own CBI program, also attended.

The joint statement marks the first coordinated response from the region since the European Commission sent letters to the five governments proposing that their CBI programs be phased out by 1 June 2028. Rather than accepting the proposal, the participating states agreed to continue engaging with the European Union through diplomatic dialogue.

How Are the Caribbean Countries Responding?

According to the statement, the countries will send a joint high-level delegation to Brussels to meet with representatives of the European Commission, the European Council, and the European External Action Service. Additional meetings with officials from individual EU member states are also planned.

The statement notes that the participating governments are prepared to discuss possible reforms within the framework of a structured transition period and ongoing dialogue with the European Union. However, it does not confirm that the countries have agreed to terminate their Citizenship by Investment programs by the deadline proposed by the EU.

Why Does This Matter?

Earlier this year, the European Commission called on the five Eastern Caribbean countries to phase out their CBI programs, citing concerns related to the EU’s visa policy. The proposal follows the adoption of the revised EU visa suspension mechanism, which allows the existence of investor citizenship schemes to be considered when assessing risks to visa-free travel. In addition to the proposed phase-out, the Commission has encouraged the countries to strengthen Due Diligence procedures and restrict access to applicants subject to EU sanctions.

For many investors, one of the main advantages of Caribbean CBI programs is visa-free access to the Schengen Area for short-term travel. As a result, developments in the dialogue between the European Union and Caribbean governments are being closely monitored by both the investment migration industry and prospective applicants.

What Happens Next?

Discussions between the Caribbean governments and the European Union are expected to continue over the coming months. Until any new agreements are reached, the participating Citizenship by Investment programs remain operational and continue to accept applications under their existing rules.