After months of extensive consultations, the countries in the Eastern Caribbean that offer Citizenship By Investment Programmes (CBI/CIP) are on the cusp of enacting legislation to establish a regional regulator.
This new law will be enacted in September 2025 by all five member countries.
The enactment of this law will culminate an intense and historic period of engagement and cooperation on these Programmes, which are so vital to the fiscal, financial stability and resilience of these member countries.
Some of the key provisions of the enabling legislation for the CBI/CIP regulator include:
- Establishment and funding of the regional CBI/CIP regulator.
- Strong enforcement mechanisms for compliance.
- Collection of biometrics for all new applicants.
- Residency requirement for all approved applicants.
- Financial support for CARICOM IMPACS/JRCC.
The work leading to the crafting of this new law has been led by an Interim Regulatory Commission (IRC) with membership from all five CBI/CIP countries, the Organisation of Eastern Caribbean States (OECS) Commission, CARICOM IMPACS/JRCC and the Eastern Caribbean Central Bank (ECCB). Ms. Lydia Elliott serves as the Legal Drafting Consultant. The work of the IRC has been overseen by the five Heads of Government of Antigua and Barbuda, Commonwealth of Dominica, Grenada, Saint Christopher (St. Kitts) and Nevis and Saint Lucia.
