St. Lucia and 35 other countries were given 60 days to tighten up security vetting and share citizenship data in their Citizen by Investment (CBI) programs or risk US visa bans. That was the sum of a memorandum issued by US Secretary of State Marco Rubio on June 14th, 2025. Since then, CBI programs around the world has taken center stage especially in the eyes of the United States and the European Union.
An article in the Times of India soughtt to adequately address the issue:
“Thousands of expatriates in the UAE who have invested in second passports through Citizenship by Investment (CBI) programmes now face an uncertain future. Popular destinations like Dominica, Saint Kitts and Nevis, Saint Lucia, Cambodia, and Egypt have long offered citizenship in exchange for financial investments, granting visa-free access to the UK, Schengen area, and other regions. But this route to global mobility is under threat.”
With expatriates making up nearly 90% of the UAE’s population, the impact could be massive. Industry experts estimate that over 10,000 CBI applications have been filed from the region in recent years. Assuming each application covers multiple family members, around 30,000 people could be affected by these looming restrictions. Indian nationals in the UAE are among the most vulnerable. Since India does not allow dual citizenship, many who acquired second passports had to renounce their Indian nationality.”
The article informed that in 2023 alone some 4300 wealthy Indians gave up their Indian citizenship, in most cases choosing Caribbean passports to secure easier travel.
The article pointed to a 2023 European Commission report which raised alarms over lax due diligence by many nations in the region. While the Times of India highlighted that Caribbean states were not alone in this ordeal, mentioning Cambodia and Egypt as countries also listed.
The article also delved into the next step, the alternatives and the possible fate of CBI participating small countries.
“With the value of CBI passports in question, many affected expatriates are exploring other options. The UAE’s own 10-year Golden Visa has become increasingly popular, offering long-term residency and stability without attracting international scrutiny. Points-based immigration systems in countries like Canada, Australia, and New Zealand are also gaining traction among those seeking credible, sustainable pathways for relocation.
For nations dependent on citizenship sales to fund healthcare, education, and infrastructure, the stakes are high. Suspension of visa-free access to the EU or UK would cripple their economies and create domestic backlash. Experts warn that cosmetic tweaks to CBI programmes won’t be enough. Only meaningful reform and rigorous due diligence can restore trust in these schemes. As the August and September deadlines approach, thousands of UAE expatriates await their fate, wondering if their investment in global freedom has turned into a costly liability.”