EU Data Released: Caribbean CBI Programs Issued 100,000 Passports

The European Union Commission’s seventh report under the Visa Suspension Mechanism states that five Eastern Caribbean nations have collectively issued more than 100,000 passports through Citizenship by Investment (CBI) programs between 2014 and mid-2024.

Passport Issuance by Country

During this period, the five CBI programs received 59,258 applications, resulting in at least 100,269 passports issued by the first half of 2024.

Dominica

Dominica issued 5,484 passports in the first half of 2024. Despite losing UK visa-free access in 2023, the program remains active and steady.

Saint Lucia

Saint Lucia processed 7,315 applications between 2015 and May 2024, but total passport issuance numbers remain undisclosed. The program saw a major surge in demand, with applications jumping by 1,520% from an annual average of 252 between 2015 and 2022 to 4,076 in 2023.

Although the first half of 2024 recorded a drop to 1,226 applications, this still marks the most significant rise in the program’s history.

Antigua & Barbuda

Antigua & Barbuda has maintained consistent growth. The program averaged 413 applications annually from 2014 to 2022 and received 739 applications in the first half of 2024,

St Kitts & Nevis

Saint Kitts & Nevis program had a drop in early 2024 as the number of applications fall from 1,987 to just 98 after the government doubled the minimum investment threshold. However, recent reforms aimed at lowering prices have started to restore interest.

Grenada

Grenada processed 2,297 applications in 2023, mainly affected by interest from Russian investors. Although Grenada officially suspended new applications from Russian and Belarusian nationals following Russia’s invasion of Ukraine, it continued processing around 2,300 pending Russian applications into 2024.

Numbers dropped sharply to 138 in the first half of 2024 as Grenada fully aligned with other jurisdictions in banning Russian applicants.

Rejection Rates and Applicant Trends

The data highlights 2,233 rejections across all five programs during the reporting period, a remarkably low figure given the volume of applications.

Applicants largely came from countries like Iran, China, Syria, Iraq, Nigeria, and Lebanon, reflecting widespread global interest.

EU & Caribbean Cooperation

The report highlights increasing cooperation between the EU and Caribbean governments. Countries such as Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis, and Saint Lucia have enhanced due diligence processes and strengthened security measures to address EU concerns.

These efforts aim to maintain the appeal of CBI programs and ensure compliance with public policy and security standards.