The 2025 Caribbean Investment Forum placed the spotlight on the proposed regional regulator for Citizenship by Investment (CBI) programmes, as key stakeholders across the Eastern Caribbean discussed steps to strengthen oversight, ensure sustainability, and bolster public confidence in the industry.
Calvin St. Juste, Executive Chairman of the St. Kitts and Nevis Citizenship by Investment Unit (CIU), shared a detailed summary of the summit’s discussions surrounding the regulatory framework. The initiative, he emphasised, is driven by a commitment to transparency and regional collaboration.
“We had a very robust discussion,” St. Juste said. “Everyone clearly demonstrated openness and a strong desire to build a transparent and sustainable future for our programmes.”
The concept of a regional regulatory body dominated the discussions, with attention on its structure, oversight capabilities, and legislative timeline. Contributions came from several experts, including Eastern Caribbean Central Bank Governor Timothy Antoine and legal advisor Lidia Evans, who both joined virtually due to overseas obligations.
St. Juste noted that the proposed regulator would oversee licencing, governance, and legislative compliance. A draft legislative framework is expected by May, with finalisation by July and enactment by the end of 2025.
Consultations for the framework have been wide-ranging, involving programme practitioners and citizens across participating jurisdictions. This approach aims to ensure the legislation reflects diverse perspectives and fosters trust.
“It was very clear that having that input was critical,” said St. Juste. “The framework will not only guide the industry but represent the voices of the people.”
The creation of the regional regulator responds to rising international scrutiny and market volatility in the global investment migration space. St. Juste underscored that the regulator would promote a level playing field, shared standards, and a unified voice among Caribbean CBI jurisdictions.
Discussions at the regional summit also delved into risk management strategies for potential geopolitical disruptions, including the loss of visa-free access to key regions—a significant concern for CBI-dependent nations.
“We had discussions around the ‘what-if’ scenarios. What if visa-free travel is revoked? What is the contingency plan?” he explained. “We must be prepared to pivot and adapt to safeguard these programmes.”
Community engagement was another critical theme, with emphasis on educating citizens about the value and security of CBI programmes. According to St. Juste, fostering public understanding and support is essential to the programmes’ longevity.
“We must ensure citizens see the value proposition. Their perspectives are vital. We need to keep engaging and educating,” he stated.
St. Juste concluded by highlighting the dynamic nature of the investment migration industry, calling for continued dialogue and adaptability in the face of evolving global pressures.
“The industry continues to change. We must remain agile and responsive, maintaining open channels of communication and cooperation,” he said.
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