The European Parliament has proposed to abolish visa-free entry for Caribbean countries
The European Parliament’s Committee on Civil Liberties has approved amendments to the visa regulations.
The proposed changes suggest restricting visa-free entry for citizens of countries where citizenship can be obtained by investment.
We have reviewed the draft legislation and explain why there is no need to panic just yet, and what will happen if the amendments are passed.
Head of Legal & AML Compliance Department, CAMS, IMCM
The European Parliament has proposed to abolish visa-free entry for Caribbean countries
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What happened? The European Parliament has proposed updating EU Regulation 2018/1806, which defines the region’s visa requirements.
The authors of the bill want citizens of Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia to obtain visas for Schengen Area countries through the standard process.
The committee voted in favour of the amendments on 19 March. The decision was supported by 41 members, 10 voted against, and 21 abstained. The amendments have been passed to the next stage in the EU legislative process.
Reasons. The EU considers citizenship-by-investment programs to be a “threat.” According to members of the European Parliament, these programs allow individuals to bypass visa requirements—the investor pays money and receives a passport with no connection to the country, which lowers security levels.
Since 2013, the visa regime has been lifted only once—for Vanuatu. The reason is the same: concerns over the issuance of passports to investors.
Vladlena Baranova,
Head of Legal & AML Compliance Department, CAMS, IMCM
Investor due diligence procedures have become stricter due to security concerns. New requirements have been introduced, online interviews are conducted, and the source of funds is verified.
Enhanced precautionary measures are in place to mitigate any potential risks. However, this is not an issue for the investor if they have an experienced agent by their side.
How Caribbean countries retain visa-free privileges. In 2024, Caribbean nations signed a Memorandum of Understanding. It regulates the minimum investment amount and establishes the rules for passport issuance.
The Prime Minister of St Lucia confirmed that countries with citizenship by investment programs will continue their dialogue with the European Union.
Vladlena Baranova,
Head of Legal & AML Compliance Department, CAMS, IMCM
The European Parliament's Committee did indeed vote “in favour,” but this does not mean the proposal has already become law.
Several steps remain: a vote by the full parliament and alignment with the Council of the European Union. This process could take a considerable amount of time, and the outcome is currently impossible to predict.
Caribbean countries continue to process applications from investors as usual. The governments of these countries are in ongoing dialogue with the European Union. There is no cause for concern at this time.
Is it worth rushing to obtain a Caribbean passport by investment?
Absolutely. Freedom of movement is just one of the reasons why investors seek second citizenship abroad. Here are a few long-term benefits that a second passport can offer:
A secure alternative destination to relocate to in case of unrest in the home country.
A better future for children, who will have the opportunity to study at the world’s best universities.
The right to open bank accounts and conduct business abroad.
These advantages will remain intact, regardless of whether Caribbean countries lose their visa-free travel rights within the Schengen Area. Investors will still be able to apply for a Schengen visa under the usual process and visit over 100 countries worldwide without the need for a visa.
A second passport also provides the right to obtain a residence permit in EU countries. For example, investors holding a Grenadian passport can apply for a Golden Visa in Greece if their primary citizenship does not allow them to do so.
The minimum investment is $130,000, which is the threshold in Vanuatu. To obtain a passport from a Caribbean country, the investment starts at $200,000.
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