PM Browne Offers to End CIP, Seeks EU Support and Transition Until 2030

Antigua and Barbuda is prepared to terminate its Citizenship by Investment Programme, but is asking the European Union to allow a transition until the end of 2030 and provide financial and technical support to help manage the economic consequences.

Prime Minister Gaston Browne outlined the government’s position in an October 30 letter to European Commissioner for Internal Affairs and Migration Magnus Brunner, proposing a negotiated wind-down aimed at protecting both the economy and citizens’ visa-free access to the Schengen area.

The proposal seeks a longer transition than the June 1, 2028 closure date communicated by the European Commission. The letter does not indicate that the EU has accepted the requested extension.

Browne said the government had considered three options presented during an October 20 technical meeting in Brussels: continue the programme and face suspension of visa-free access; close it by June 2028; or commit to closure while requesting additional time and support.

The government has selected the third option.

Under its proposal, a comprehensive assessment would examine the fiscal, financial, economic, social and legal consequences of ending the programme. That assessment would be completed and shared with the European Commission by the end of the first quarter of 2027.

Browne requested EU technical assistance to undertake the assessment jointly, followed by negotiations on budget and development support proportionate to the revenue, investment and employment expected to be lost.

He noted that the support identified so far falls under the EU’s broad Global Gateway initiative, with no dedicated funding allocation yet established for countries closing their citizenship programmes. He asked that assistance be considered within the EU’s next financial framework for 2028–2034.

The proposed transition to the end of 2030 would give Antigua and Barbuda time to honour existing obligations, complete developments and adjust its economy, according to the letter. The government would apply binding safeguards discussed with the Commission and cooperate with monitoring throughout that period.

Browne warned that an abrupt closure could create financing gaps that would be difficult to address quickly without harming residents.

He said citizenship investment proceeds have supported hurricane recovery, social programmes, public infrastructure and tourism developments that provide employment and sustain small businesses.

Citing International Monetary Fund findings, Browne said stronger programme inflows had contributed to Antigua and Barbuda’s primary surplus of nearly five per cent of gross domestic product in 2025. He also linked the resources to improvements in public finances, including a reduction in public debt from approximately 101 per cent of GDP in 2020 to an estimated 68 per cent in 2025.

The Prime Minister identified unfinished development projects and banking exposure as particular concerns.

Several approved developers, he said, have contractual arrangements that depend on further investment through the programme. Closing it without adequate time to complete projects or renegotiate agreements could expose developers to substantial claims and litigation, while leaving unfinished developments across the country.

Domestic and regional banks have also provided financing in anticipation that programme proceeds would repay those facilities, he said. A sudden halt could place those loans at risk, with possible consequences for bank asset quality and capital.

Given the shared financial system of the Eastern Caribbean Currency Union, Browne cautioned that such pressure could extend beyond Antigua and Barbuda. He argued that a transition through 2030 would allow the affected obligations to be repaid or restructured under the supervision of the Eastern Caribbean Central Bank.

The letter also outlined the potential consequences of continuing the programme without an agreement.

According to Browne’s account of the Brussels discussions, a decision to suspend visa-free access would likely be announced in January 2027 and take effect around March or April. An initial 12-month suspension could be extended and ultimately become permanent if the required steps to terminate the programme were not implemented.

The deadline for Antigua and Barbuda to communicate its decision was extended to November 12, 2026, he said.

Browne asked the Commission to acknowledge the country’s conditional commitment to closure in its December 2026 report, approve the proposed transition period and begin discussions on assistance once the economic assessment is available.

He also proposed further meetings between officials and said Antigua and Barbuda was working with Organisation of Eastern Caribbean States partners to present a common regional position wherever possible.

The Prime Minister maintained that the proposed approach would address European concerns while safeguarding the stability and wellbeing of Antigua and Barbuda’s people.

Read entire letter below