Antigua and Barbuda has offered to shut down its Citizenship by Investment Programme (CIP) by the end of 2030, provided the European Union agrees to a longer transition period and offers financial and technical assistance to help cushion the economic impact.
Prime Minister Gaston Browne outlined the proposal in an October 30 letter to European Commissioner for Internal Affairs and Migration Magnus Brunner, as the government seeks to preserve visa-free travel to Europe’s Schengen area while avoiding a sudden loss of investment revenue.
The proposed 2030 deadline is more than two years later than the June 1, 2028 closure date communicated by the European Commission.
There is no indication that the EU has agreed to the extension.
Browne’s letter follows an October 20 technical meeting in Brussels, during which Antigua and Barbuda was presented with three options: continue operating the programme and risk losing visa-free access, close it by June 2028, or commit to termination while negotiating additional time and support.
The government has chosen the third option.
Under the proposal, Antigua and Barbuda would conduct a comprehensive assessment of the financial, economic, social and legal consequences of terminating the programme, with findings to be submitted to the European Commission by March 2027.
Browne is requesting EU technical assistance to conduct the assessment and financial support to offset anticipated losses in government revenue, investment and employment.
He also wants the EU to consider dedicated assistance under its 2028-2034 financial framework, noting that no specific funding allocation has yet been established for countries winding down citizenship programmes.
The Prime Minister warned that closing the CIP too quickly could have serious consequences for Antigua and Barbuda’s economy.
He pointed to the programme’s contribution to hurricane recovery, public infrastructure, social services and tourism developments, arguing that the investment has supported jobs and local businesses.
Citing International Monetary Fund findings, Browne said stronger CIP inflows helped Antigua and Barbuda achieve a primary fiscal surplus of nearly 5 per cent of gross domestic product in 2025.
He also highlighted the reduction in public debt from approximately 101 per cent of GDP in 2020 to an estimated 68 per cent in 2025.
Among the government’s concerns are unfinished development projects financed through the programme.
According to Browne, several approved developers have contractual obligations that depend on continued citizenship investment. An abrupt termination could leave projects incomplete and expose developers to costly legal disputes.
He also raised concerns about loans issued by domestic and regional banks against anticipated CIP proceeds.
A sudden interruption in those revenues, he argued, could affect loan repayments and weaken banking institutions, with potential implications for the wider Eastern Caribbean Currency Union.
Browne said a transition through 2030 would allow outstanding obligations to be repaid or restructured under the supervision of the Eastern Caribbean Central Bank.
The government has also offered to introduce binding safeguards and cooperate with EU monitoring during the proposed transition.
The letter outlines the potential consequences if Antigua and Barbuda continues operating the programme without reaching an agreement.
According to Browne’s account of the Brussels discussions, the EU could announce a suspension of visa-free access in January 2027, with restrictions taking effect around March or April.
An initial 12-month suspension could subsequently be extended or made permanent if the country failed to take the required steps to terminate its programme.
Antigua and Barbuda has until November 12, 2026, to formally communicate its decision, following an extension of the original deadline.
Browne is asking the European Commission to acknowledge the government’s conditional commitment to ending the CIP in its December report, approve the requested transition and begin negotiations on financial assistance once the economic assessment is completed.
The Prime Minister also indicated that Antigua and Barbuda is coordinating with Organisation of Eastern Caribbean States partners in pursuit of a common regional position.
For now, the government’s proposal represents a willingness to close the CIP under negotiated conditions, rather than an unconditional decision to terminate it.
The European Commission’s response will determine whether Antigua and Barbuda can secure the additional time and assistance it is seeking while maintaining visa-free access for its citizens.
This article was originally published by Antigua News Room. Read the original article here: Antigua and Barbuda Offers to End Citizenship by Investment Programme by 2030, Seeks EU Financial Support.