Should the EU tighten CBI rules on Caribbean nations?

[AviatorTom]

Citizenship-by-Investment (CBI), also called a "golden passport", is a popular way for people to get EU citizenship in several Caribbean countries: Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia. By paying a fee and filling out some paperwork, EU citizenship can be granted.

This is a major part of these Caribbean nations' economy.

The EU is now considering this to be a security threat, especially when less than 5% of applicants are turned down, which is viewed as a weak vetting process

The EU is now considering ending this CBI program in the Caribbean unless the countries improve the process.

Here's the detailed story...

EU delivers Ultimatum to Caribbean CBI nations

What do you think about this?

[NathanDavis]

it's not a matter of whether they should do it or not...

they are going to do it...

as people might know or not... these programs are often used by organized crime and also very rich people who are deep into bad business... and these gold passports are tools for money laundering and tax evasion

so the problem for European nations is that the Caribe nations are taking away their "dark model business" because... if you are a criminal and want to do your shady business in European nations or territories like Cyprus, Malta, Andorra, Isle of Man and others... it will cost you over 1 million dollars

but if you do it in the Caribe... it can cost you 100k or 200k...

Europe has relied on banking and finance for decades... and they can afford to lose more of that anymore, so... Make Europe the Center or Money Laundering Again... kind of situation

[OlderAndWiser]

I hate saying anything in support of the EU but this sounds like a very reasonable response to a a potentially huge problem.

[purplepoppy]

Minimum threshold investment $200,000. I wonder how easy it is to legally raise that kind of cash in the Caribbean. The fact huge numbers seem to have the money makes me wonder how they got it in an area known for hardship.

As the EU comes under pressure to reduce black immigration I wonder if this is just an easy target to make them look like they're taking action. It's a lot easier to cancel a Caribbean application than stop people wandering over from Africa and it looks so good on paper.

[DryGermanGuy]

These guys (Russian, Arabs, Chinese…) come from outside and invest that money in these islands. Of course they attract the scumbags of the world! 😡

[andreasderjuengere]

Let's now re-name the former Caribbean Sea into : 'Gulf of Europe'.
Also: buy up some of these Islands and make them additional EU territory. Not saying to include them in the Schengen stuff.

[Shiprex]

That's a disgusting disgrace to both sides. Taking wealth from a nation just to access privileges because someone is wealthy (exploited others) and should be banned

[beefcakebradybatson]

Fat chance of that happening !!!

[DryGermanGuy]

Why only in Caribbean nations? We should tighten it everywhere in the EU!

[AngryCarl2]

UK here. It's purely an issue between Caribbean nations and the EU. I don't have a dog in this fight.

[Chazmatazz269]

Why? Recent headlines don’t suggest that much of the EU officially recognizes a problem with immigration. I suppose it makes sense if you believe the theory that they’re only letting in the dregs.

[beefcakebradybatson]

The EU must be afraid of the dark.(Dark-skinned folk, that is.)

[KostasKouvalis]

These islands aren't part of the EU, so how can they be granting EU citizenship? They grant THEIR own citizenship

[AviatorTom]

@KostasKouvalis I believe they are associated with EU countries, as remote territories, similar to how a person in Puerto Rico is a US citizen, even though Puerto Rico is not a state.

[KostasKouvalis]

I'm pretty sure they AREN'T. Not the ones YOU listed. British commonwealth maybe. The ones you listed are soveirgn nations.

[Anonymous]

I don't see anything wrong with the Caribbean nations.

[msc545]

Why does this make any difference to anybody?