With Caribbean Passports Under Scrutiny, What Options Do Global Investors Have?

(MENAFN- Khaleej Times) A second passport once promised to open doors for investors and wealthy families. By 2027, the question facing them may be which doors will remain open. European pressure on Caribbean citizenship-by-investment programmes, tighter investment migration rules across Europe and an approaching US immigration deadline are reshaping the options for those seeking a second home, greater mobility and long-term security.

“Rich people can live with a price. What they struggle with is uncertainty. You cannot keep telling a family to wait another year when their children need schools, their business needs a base and their retirement plans are already made,” Rayad Kamal Ayub, an Indian expatriate and managing director of Dubai-based The Rayad Group, told Khaleej Times.

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Countries such as Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia offer citizenship by investment (CBI) programmes, allowing successful applicants to obtain citizenship and, subsequently, a passport.

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European visa-free travel has been a major draw for citizenship-by-investment programmes. But the appeal of Caribbean CBI passports is now being challenged by mounting international scrutiny and the growing risk of travel restrictions.

Dominica's government said in October that the European Union had indicated that countries operating citizenship programmes must transition away from them by June 2028 to retain access to the Schengen Area without visas. Antigua and Barbuda has also confirmed receiving a European request to phase out its programme.

Ayub noted:“Negotiations continue, and a common shutdown date has not been agreed. But 2027 could become a decisive year for programmes that support government revenues, infrastructure and development.”

'What am I paying for'

“The question a buyer asks is very straightforward,” said Michael Rosmer, founder of Offshore Citizen.“If I apply today, will the passport still give me the travel access I am paying for? Until that answer is clear, there is hesitation.”

That uncertainty exposes a fundamental feature of the CBI business: One government can grant citizenship, but another decides whether its holders need visas.

Europe has already shown how abruptly an established route can change. Spain stopped accepting new investor visa applications in April 2025, with transitional protection for existing permissions and earlier applications. Greece raised standard property investment thresholds to €800,000 in designated locations and €400,000 elsewhere, with exceptions for particular categories.

Portugal remains open to investment residence, although pending applications and administrative difficulties have complicated the experience for some families. The attraction of Europe remains, but so does the burden of planning around an uncertain timetable, noted Rosmer.

Ayub added:“People calculate the investment, but they also need to calculate the waiting. Where will they live in the meantime? What happens to the children's education? How long can they leave those decisions unresolved? Sometimes the customer simply gets tired of waiting for a clear answer and chooses somewhere else.”

Meanwhile, the US presents another looming deadline. The EB-5 Regional Center Program, a route to US residency through qualifying investments, is currently authorised only until September 30, 2027. Any extension beyond that date will require congressional approval.

“The US remains attractive, but families need to separate the announcement from the actual immigration process, A political promise does not tell you when your application will be approved,” said Ayub.

What are the options?

The UAE and Southeast Asia stand to benefit if uncertainty persuades applicants to look beyond familiar destinations. The emerging competition is more than travel privileges; it is about where a family can make plans with confidence.

“People want a place where they can see themselves living. The conversation quickly moves from the visa to the home, the children's school and how they will run their business,” said Mohammad Motavasel, managing director of Carib International.“

He noted Dubai and Southeast Asia stand to benefit if uncertainty persuades applicants to look beyond familiar destinations. The emerging competition is about more than travel privileges. It is about where a family can make plans with confidence.“Dubai offers a substantial record of activity against this unsettled background. As per immigration authorities in the UAE, Dubai issued 66,000 Golden Visas during the first half of 2026,” he added.

Ayub agreed, noting:“Dubai gives families something tangible. They can visit, look at schools and understand how their business would operate.”

Another option is further east. Malaysia recorded 7,650 Malaysia My Second Home applications between October 2024 and August 2026. Thailand's Board of Investment reported about 12,000 cumulative long term resident visa approvals over four years. The Philippines offers a dedicated retiree visa, while Cambodia's My Second Home programme broadens the regional choice.

Such residence options, however, should not be confused with automatic citizenship.

Daniel Agius, founder & managing director of VIMB Services Limited, agreed. He shared:“Many of the families we speak with have no immediate plans to relocate. They simply want the reassurance that, if their circumstances change, they will have somewhere else to call home. For any family, that is a deeply personal decision.”

“For someone planning retirement, the questions are persona, Can I afford a comfortable home? Can I get good medical care? Will my family enjoy visiting? These are real and pressing questions,” he added, noting:“A passport may still open borders, but a workable residence arrangement can offer something equally important: a place to begin again when circumstances demand it.”

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