The European Union has ordered five Caribbean nations to end their citizenship-by-investment programmes by June 1, 2028, leaving thousands of wealthy Nigerians who bought second passports for easier access to Europe facing new uncertainty.
Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis and Saint Lucia must introduce enhanced screening from September 2026, begin a 24-month wind-down and fully terminate the schemes by the final deadline. Brussels has warned it could withdraw visa-free access for citizens of the five countries if they fail to comply.
Nigerians have been among the biggest users of these programmes. With a 47.8 per cent Schengen visa rejection rate and an estimated €4.5 million lost in non-refundable application fees in 2025 alone, many turned to Caribbean citizenship as a reliable alternative. Minimum investment thresholds currently range from about $200,000 in Dominica to $250,000 in St Kitts and Nevis, with Antigua and Barbuda around $230,000–$235,000. Successful applicants gain visa-free or visa-on-arrival access to more than 140–150 destinations, including the Schengen area, the UK, Hong Kong and Singapore.
Data cited by Vanguard shows Nigeria accounting for roughly 16 per cent of applications to Grenada’s programme in the fourth quarter of 2025, ahead of China. Nigeria also ranked among the leading source markets for Antigua and Barbuda and topped the African chart for Saint Lucia.
The EU has cited security and integrity concerns, pointing to high application volumes, short processing times and low rejection rates that it says allow third-country nationals to bypass normal visa checks. A joint Financial Action Task Force and OECD report has separately warned of risks of money laundering, fraud and other misuse linked to such schemes worldwide.
Caribbean governments have already begun reforms.
In 2025 they established the Eastern Caribbean Citizenship-by-Investment Regulatory Authority to coordinate standards and tighten due diligence. Prices were raised from below $100,000 in earlier years to a $200,000 floor in 2024, with a further increase to $235,000–$250,000 expected by 2027. St Kitts and Nevis has revoked 13 citizenships for underpayment.
Foreign policy expert and international lawyer Femi Ojumu said the planned closure has far-reaching implications. He noted that the aggressive anti-immigration stance of US President Donald Trump has influenced similar tightening in the EU, UK and Canada, combining with stricter anti-money-laundering rules to put the long-term viability of the Caribbean schemes in doubt. While the programmes remain important revenue sources for the islands, Ojumu argued the changing global environment “imperils” their attraction for Nigerians who have invested heavily and now face constrained mobility and weaker returns.
Migration consultants report that demand from Nigerian entrepreneurs remains solid, though the motivation has shifted. Chee Okebalama, managing director of client advisory at Multipolitan, said many clients are no longer seeking an exit from Nigeria but a second base that complements it. “The objective is not to move away from Nigeria, but to complement it with greater mobility, jurisdictional resilience and long-term choice for family,” she said. Residence-by-investment options in Greece, Malta, Portugal, the UAE, Panama and Oman are expected to gain appeal as alternatives that allow families to retain strong economic ties at home while adding a European or other foothold.
Caribbean leaders met in July 2026 to coordinate a joint response and are expected to negotiate with Brussels. For now, the main draw of visa-free Schengen access hangs in the balance, prompting advisers to prepare clients for a possible pivot away from pure citizenship programmes toward residency routes that require more physical presence but offer greater long-term stability.
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