Leaders Discuss Future of CBI Programs Under EU Pressure

Prime Minister Philip J. Pierre met with European Commissioner Magnus Brunner, Gaston Browne, and other officials at the EU Mission to the United Nations in New York. The discussion centered on the future of Citizenship by Investment (CBI) programs in Eastern Caribbean countries. The meeting addressed the European Commission’s request that these countries phase out their CBI programs by June 2028. The Prime Ministers stressed that CBI remains an important source of development financing for the OECS countries.

The EU issued a firm ultimatum regarding the CBI programs, requiring countries to reform or face the suspension of visa-free access to the Schengen Area for their citizens. The warning targeted programs whose due diligence, processing, or potential for abuse was deemed a risk to Schengen security. The viability of these programs is directly tied to the international travel and investment status of the involved states.