Key facts
- Antigua collected about $58 million from its citizenship program in 2025.
- Ending the program would erase more than half of Antigua’s projected primary surplus this year.
- In St Kitts and Nevis and Dominica, inflows have at times exceeded 10% of GDP.
Antigua and Barbuda is poised to discontinue its citizenship-by-investment program following pressure from the European Union, a move that could significantly impact the nation's budget and the broader Caribbean 'golden passport' market. The EU has set a November 12 deadline for Antigua and four other Eastern Caribbean nations to agree to phase out their programs by June 1, 2028, citing security concerns related to visa-free access to the Schengen area. These programs, which require investments starting at $200,000, have been a substantial source of revenue for the participating economies, with direct investment in related projects representing a significant portion of their total foreign direct investment. Losing Schengen access could devalue the passports and affect related developments, such as hotels financed through these schemes. For Antigua, the program is the largest source of non-tax revenue, with collections in 2025 reaching approximately $58 million. The potential cessation of these programs raises an 'existential fiscal question' for some nations where inflows have at times exceeded 10% of GDP.