The forum’s focal point revolved around the escalating tensions between countries offering government citizenship by investment programs and the European Union, which sets the criteria for Caribbean nations to uphold visa-free access to Schengen countries.
Prime Minister Dr Terrance Drew of St Kitts and Nevis emphasised the Caribbean’s commitment to adhering to EU directives. Caribbean nations are collaborating to establish a unified Due Diligence agency to preserve visa-free privileges for investors.
A significant stride towards alignment with the European Union was the signing of the Memorandum of Agreement by representatives from St Kitts and Nevis, Dominica, Grenada, and Antigua and Barbuda.
The pact involves raising the minimum investment to $200,000 and initiating the exchange of information on citizenship applicants among participating countries.
St Lucia is the sole nation that has yet to endorse the agreement—because they need more time to regulate internal processes. The Deputy Prime Minister of St Lucia, Ernest Hilaire, remains confident that this decision won’t impede investors' access to Schengen countries without visas.
McClaude N. Emmanuel, head of St Lucia’s CBI Unit, underscored at the forum that St Lucia disavows unethical agents. These agents promote citizenship acquisition for investments below the official program thresholds.
