Nationals of Citizenship by Investment (CBI) countries may lose visa-free access to the EU in the future with the European Parliament’s Committee on Civil Liberties, Justice, and Home Affairs (LIBE) voting to approve amendments to EU visa regulations that are targeted at countries offering CBI programs.
On March 19, the committee voted 41-10 (with 21 abstentions) to approve a draft report that outlines proposed changes to Regulation (EU) 2018/1806. Regulation (EU) 2018/1806 governs visa entry requirements for travel into the EU.
Citing that CBI programs “allow visa-free travel to the Union to third-country nationals that would otherwise be visa required,” the report argues that they pose a security threat to the EU.
The LIBE committee also holds the view that countries “should be deterred from using visa-free access to the Union as a tool for leveraging individual investment” for citizenship.
Efforts to establish CBI programs as grounds for suspending visa-free access to the EU began in October 2023. With this latest development, the report has progressed to the next stage of the EU legislative process.
The report reflects the EU’s concerns of countries granting citizenships to individuals who do not have a “genuine link” to the third country, fearing that these programs are facilitating illegal entry into the EU.
Members of the EU Parliament (MEPs) also argued for the suspension of visa freedom in the event of violations of the United Nations Charter and serious breaches of international human rights or humanitarian law. This means that visas of diplomatic and service passport-carrying government and state officials may face suspensions for preventing such breaches if the amendments to the regulation are implemented.
The current EU laws state that “substantial” growth in the number of people overstaying their visa permission, or an increase in asylum applications from a country with a low recognition rate can also lead to suspension of visa-free access.
MEPs are pushing to lower the 50% threshold for assessing such an increase to 40%.
Caribbean countries have been taking significant steps to address these growing concerns, such as by signing a Memorandum of Agreement in 2024 to set common standards, temporarily refuse Russian applicants, and establish minimum investment thresholds.
After holding discussions with the US Treasury Department, Caribbean nations put in place mandatory applicant interviews and strengthened due diligence procedures with regards to their CBI programs.
The report also highlights past actions against Vanuatu, with the nation receiving a partial suspension of its visa exemption in March 2022 and seeing a full suspension in November 2024.