EU Sets 2028 Deadline to Shut Caribbean Citizenship Schemes, Closing Second Passport Route for Nigerians

The European Union has threatened to revoke Schengen visa-free access for five Caribbean nations unless they scrap their citizenship-by-investment programmes by 2028. Nigeria is among the high-risk countries whose nationals the EU flagged as receiving passports through the Caribbean schemes.

The affected countries are Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia. Their programmes let foreign nationals obtain citizenship within months, with qualifying investments typically starting at around $200,000 and no requirement to live in the country.

Why the EU is cracking down

The European Commission said the schemes create serious security risks because they allow applicants to obtain citizenship through accelerated processes with little or no physical residency, making thorough background checks difficult. Authorities also raised concerns about money laundering, tax evasion, and the movement of illicit funds.

The EU specifically named Nigeria alongside China, Russia, Syria, Iran, Iraq, Yemen, and Libya as high-risk jurisdictions from which applicants had obtained Caribbean passports under the programmes.

Caribbean CBI schemes have been popular among affluent Nigerians because the passports offer visa-free or visa-on-arrival access to dozens of countries, including most of Europe. That made them attractive for business travel and wealth planning.

Heavy cost for Caribbean economies

For the island states, the EU ultimatum carries serious financial consequences. International Monetary Fund data shows CBI programmes contributed an average of 6.5% of gross domestic product across the Eastern Caribbean between 2019 and 2023.

In Antigua and Barbuda, the stakes are even higher. The scheme accounts for as much as 60% of the country's non-tax government revenue. Prime Minister Gaston Browne said his country faces a stark choice between keeping visa-free access to Europe and surrendering more than $100 million in annual income from the programme. He argued that the scheme cannot simply be abandoned without a credible alternative source of funding.

What happens next

Leaders of all five countries are expected to travel to Brussels to push for a compromise, BusinessDay reports. Their position is that investment migration programmes exist in many other jurisdictions and that the solution should be stronger regulation, not abolition.

BusinessInsider reports that the EU's current pressure follows a broader campaign against so-called golden passport schemes. The push intensified after the European Court of Justice ruled that such programmes were incompatible with EU law, leading several EU member states to wind down similar initiatives.

If the 2028 deadline holds, one of the most accessible paths to a second passport for high-net-worth Nigerians and other global investors will effectively close. That leaves wealthy Nigerians seeking alternative citizenship routes with fewer options, and puts pressure on other investment programmes to fill the gap.