After months of extensive consultations, Eastern Caribbean nations offering Citizenship By Investment (CBI/CIP) programmes are on the verge of passing legislation to establish a regional CBI/CIP regulator. The law is set to be enacted in September 2025 across all five participating member states, heralding a new era of transparency, security and sustainability for these vital revenue streams.
The move comes at a pivotal moment when these programmes have underpinned fiscal stability and funded crucial infrastructure while providing resilience against external shocks such as the pandemic and the impacts of climate change. All participating countries have affirmed that dismantling CBI/CIP schemes would cause severe socio-economic repercussions.
A rigorous engagement process laid the groundwork for this milestone. Notable milestones include the first US–Caribbean Roundtable in St Kitts and Nevis (February 2023), multiple follow-up meetings with the USA, UK and EU, a memorandum of understanding signed among CBI Heads during 2024, and extensive stakeholder feedback across 2025. A minimum CIP application threshold of US$200,000, introduced in July 2024, further standardized standards across jurisdictions.
The forthcoming legislation envisions a robust regulatory structure, including:
- Establishment and funding of the regional regulator to issue binding standards for Citizenship by Investment Units (CIUs) and programme licensees.
- Strong enforcement mechanisms and annual compliance reporting.
- Mandatory biometric collection during the application interview for heightened security.
- A residency requirement for approved applicants, fostering deeper ties with the region and bolstering tourism.
- Financial backing for CARICOM IMPACS/JRCC, ensuring centralised and secure vetting via the Joint Regional Communications Centre.
This initiative has been spearheaded by an Interim Regulatory Commission comprising representatives from the five CBI countries, the OECS Commission, CARICOM IMPACS/JRCC, and the Eastern Caribbean Central Bank (ECCB), with Lydia Elliott as Legal Drafting Consultant. Oversight has consistently come from the Heads of Government of Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia.
International support has been vital. The USA and UK provided helpful feedback on the draft legislation in July 2025, while regional legal and industry stakeholders played a crucial role throughout the process.
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