View over the clear turquoise waters of the harbor from verdant hilltop viewpoint above the village, Marigot Bay, Castries, St. Lucia.
David C Tomlinson | The Image Bank | Getty Images
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
The European Union has given five Caribbean nations notice that they need to end their citizenship-by-investment programs or risk losing visa-free access to Europe’s Schengen area by 2028.
The ability to enter the 29 countries in the Schengen area can be a substantial selling point for these golden passport programs. While some immigration attorneys told CNBC that the ultimatum will likely end in a compromise, it is possible the EU will stand its ground.
Currently, foreigners can obtain citizenship in one of the countries by making a…
