Caribbean Gold passports will rise in price

04.04.2024 Caribbean "golden passports" are becoming more expensive, which is a response to pressure from the United States and the European Union to tighten the sale of citizenship.

A group of four Caribbean countries (Dominica, Saint Kitts and Nevis, Grenada and Antigua and Barbuda) have agreed to charge at least $200,000 for their passports starting on June 30, which in some cases is double the current rate. Countries will also close loopholes allowing discounted passports to be sold.

Citizenship-by-investment programs generate more than $579 million per year in the Caribbean and account for more than half of the national income of some tiny island States in the region. But these programs are under the scrutiny of European and American regulators, who are increasingly concerned that they are being used to circumvent immigration controls and could serve as a gateway for criminals.

"Golden passports" provide visa-free access to the EU, the UK and other countries, which makes them popular among citizens who usually need to apply for a travel permit.


Link to the source: https://www.bloomberg.com/news/articles/2024-04-01/caribbean-golden-passport-cost-soars-to-200-000-o...