The European Commission has expanded the visa suspension mechanism, adding new reasons for revoking visa-free travel.
Changes target Citizenship-by-Investment (CBI) Programs, which offer citizenship in exchange for financial investments.
The European Parliament’s Committee on Civil Liberties, Justice, and Home Affairs (LIBE) voted 41-10 in favor of amending the visa regulations.
Several Caribbean nations, including Antigua and Barbuda, Grenada, Dominica, Saint Kitts and Nevis, and Saint Lucia, could lose visa-free access to the EU.
Why Is the EU Targeting Citizenship-by-Investment Programs?
The Golden Passport programs, active in several countries, allow non-EU nationals to gain citizenship and visa-free EU access without strong residency or national ties. The European Parliament argues that:
Security risks: Lack of proper vetting and due diligence could allow individuals with criminal backgrounds, money laundering ties, or corrupt practices to obtain passports.
EU sovereignty concerns: The EU does not want its visa-free travel privileges to be exploited for financial gain by third countries.
Risk of irregular migration: Some applicants may use a new citizenship status to bypass normal immigration controls.
Visa Suspension Mechanism and New Triggers
The visa suspension mechanism (VSM) can now be triggered under new circumstances, including:
A rise in serious criminal activities linked to nationals of the visa-exempt country.
Deterioration in EU’s external relations with the country in question.
A sharp increase in non-citizens using that country to gain illegal entry into the EU.
Potential Consequences
CBI countries could lose visa-free access, making their passports less attractive to investors.
The suspension could hurt economies reliant on these programs, particularly in the Caribbean.
EU-based Golden Visa schemes could also face stricter scrutiny or future restrictions.
Next Steps
The proposed amendment will now go through further EU legislative processes. If approved, CBI nations could face visa restrictions, potentially reshaping the global investment migration industry.
