Bayat Group says Caribbean citizenship buyers should look past passport rankings

Bayat Group says five Caribbean citizenship-by-investment programs are converging on common standards, but key differences still matter for families and business owners. The firm points to Grenada as an example of how residency, tax, treaty access and future policy shifts can change the value of a second passport.

Why it matters: - Caribbean citizenship-by-investment programs are becoming more standardized, but buyers can still end up with very different long-term outcomes. - Bayat Group says families and business owners should judge a second citizenship by what it can do over time, not just by price or visa-free access counts. - Policy changes in the UK, the European Union and the Caribbean could reduce the value of some passports after purchase.

What happened: - Bayat Group published guidance arguing that the five Eastern Caribbean CBI programs should not be treated as interchangeable. - Sam Bayat, founder and managing director of Bayat Group, said the key question is not which passport scores highest today, but which citizenship will still be useful in 10 years. - The firm used a hypothetical family of four with a trading business to show how similar quotes can mask major differences.

The details: - Passport rankings measure only current visa-free access, and those rules can change. - The UK added visit visa requirements for nationals of Dominica in July 2023 and for nationals of Saint Lucia in March 2026. - Bayat Group says five questions matter more than rankings: whether the family will live there, how many members are included, whether dual nationality is restricted at home, whether the investment is refundable, and which benefits require extra applications. - Grenada is a useful example, but Bayat Group says the country will not fit every family. - Grenadian nationals are currently covered by the UK's Electronic Travel Authorisation scheme, along with nationals of Antigua and Barbuda and Saint Kitts and Nevis. - That arrangement can change and does not guarantee admission. - Grenada appears on the U.S. State Department's E-2 treaty list, while the other four Caribbean CBI countries do not. - The treaty can make a Grenadian national eligible to apply for an E-2 visa to develop and direct a substantial investment in a U.S. enterprise. - A person who obtained treaty nationality through investment and has not previously held E status must have been domiciled in Grenada for a continuous three years before applying. - Holding the passport for three years is not enough to satisfy the domicile test. - Bayat said Grenadian citizenship is not a U.S. visa and is not a route to a green card. - Grenada's program lists a National Transformation Fund contribution of US$235,000 for a family of four. - Grenada also offers approved real estate routes of US$270,000 shared or US$350,000 sole, plus government fees. - Due diligence, processing and interview fees are additional. - Grenada has a 30-day minimum presence requirement during the first five years after citizenship is granted. - The rule takes effect only after the regional regulator is operational and all five Caribbean CBI programs start on the same date. - In late 2025, the European Union revised its visa suspension mechanism to add CBI citizenship without a genuine link as a ground for suspending visa-free access. - The European Commission has asked the Caribbean CBI states to phase out their programs by June 1, 2028. - Antigua and Barbuda's prime minister has said his government is proposing a counter-framework through 2030, but that proposal has not been approved. - A response to the Commission is expected by November 12, and the Commission's next report is due in December 2026.

Between the lines: - The message is not that every Caribbean passport is equal, but that the value of each program depends on the buyer's family structure, mobility needs, business goals and home-country rules. - Grenada stands out because of its U.S. treaty access, but that benefit only matters if the buyer can satisfy the domicile requirement. - The European Union's tougher stance raises the risk that visa-free access can narrow even after citizenship has been granted.

What's next: - Bayat Group expects families to test each option against two scenarios: what happens if Europe withdraws visa-free access and what happens if a program closes to new applicants. - The firm says buyers should define their objectives first, then compare programs based on the full household and the conditions tied to each benefit. - Bayat Group says its first consultation reviews the family's goals, existing nationalities and intended use before recommending Grenada, another program or a different route. - Inquiries can be made at Bayat Group.