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Would a Schengen Visa Requirement for Caribbean Nationals Really Be Bad News? · IMI Podcasts

• 0:00
  SPEAKER_00: In light of recent discussions by the European Union on the implications of imposing visa requirements on Caribbean citizenship by investment, referred to as CBI countries, it is essential to put these developments into perspective.
• 0:14
  SPEAKER_00: I have been practicing immigration law for more than three decades.
• 0:18
  SPEAKER_00: I have seen many changes since.
• 0:20
  SPEAKER_00: Some more important or paradigm altering than the possibility of the EU imposing a Schengen visa requirement on the Caribbean CBI nations.
• 0:29
  SPEAKER_00: I learned that the demand for our services is quite resilient and that the market usually adjusts very well.
• 0:35
  SPEAKER_00: I see the possible imposition of a visa on the Caribbean in the same light.
• 0:40
  SPEAKER_00: Whilst these visa requirements are not ideal, it is unlikely that they will affect the demand for Caribbean CBI, nor should it pose a concern for our existing clients.
• 0:50
  SPEAKER_00: Most of our clients pursue a secondary citizenship not for visa-free travel, but as a long-term strategic asset, commonly for tax planning purposes, long-term mobility, security, and optionality.
• 1:03
  SPEAKER_00: Examining the short-term implications, the imposition of visa requirements is not equivalent to a travel ban, and one should not view it as a punitive measure against Caribbean CBI programs.
• 1:15
  SPEAKER_00: It simply introduces a procedural step by requiring Caribbean passport holders to apply for a visa, which can now be done electronically for most countries.
• 1:25
  SPEAKER_00: As we have observed for recent visa applications to Canada and the United States, platforms are now streamlined, and the vast majority should not face any issues in obtaining visas.
• 1:37
  SPEAKER_00: In fact, in the context of the existing visa requirement that the UK imposed on Dominican passport holders, all our clients who have applied for the visa have been approved within days, with a multiple entry visa.
• 1:50
  SPEAKER_00: In terms of midterm and long-term implications, we should view this in a broader global context.
• 1:57
  SPEAKER_00: Agile and cost-effective models such as electronic travel authorization, also known as ETA systems, are steadily replacing traditional visa systems.
• 2:07
  SPEAKER_00: Countries like Australia, the United States, Canada, and the UK already use these more efficient and scalable systems, while the EU is finalizing its European Travel Information and Authorization System, referred to ETIAS.
• 2:22
  SPEAKER_00: These systems streamline border security screening by requiring travelers to complete a brief online application, pay a modest fee, and receive travel authorization within hours or days.
• 2:34
  SPEAKER_00: Many countries experimenting with ETA will expand its use and eventually replace their existing visa framework, as Canada is slowly but surely doing now.
• 2:44
  SPEAKER_00: These ETA systems generate substantial profit and free resources for allocation to more demanding tasks.
• 2:52
  SPEAKER_00: For Caribbean countries, this shift presents a valuable opportunity.
• 2:56
  SPEAKER_00: They've implemented a host of best practices that strengthen their passport issuance process and align it with international standards.
• 3:04
  SPEAKER_00: These changes may help preserve, restore, or enhance visa-free access in the future.
• 3:10
  SPEAKER_00: Therefore, while change understandably triggers uncertainty, I believe the current speculation does not warrant the level of concern we currently see in the market.
• 3:20
  SPEAKER_00: If the EU moves forward and imposes such a visa requirement, it will actually help bring clarity and consistency to the discussion, allowing us to move past recurring rumors and address client expectations confidently.
• 3:33
  SPEAKER_00: As for the Caribbean CBE countries imposing a minimum residency requirement, well, I can imagine worse things than spending some quality time in the Caribbean.
• 3:43
  SPEAKER_00: This episode first appeared as an article by Jean-Francois Harvey on IMIDAily.com.
• 3:50
  SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry.
• 3:57
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