Prime Minister Dr. Terrance Drew has announced the imminent creation of a regional regulatory body for Citizenship by Investment (CBI) programmes, signalling a renewed commitment to transparency, compliance, and accountability. The initiative, expected to be enacted in September 2025, involves Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia—the five Eastern Caribbean nations offering CBI programmes.
The Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA) will serve as a regional oversight body to strengthen the integrity of CBI operations. The draft legislation, available for public comment since 11th July 2025, is currently under final review ahead of expected approval by all five countries in September.
“This is not about one case, not about one company. Anybody at all who has not followed the law with respect to our citizenship rights will be pursued,” Dr. Drew said, underscoring the government’s commitment to strict enforcement. “We are serious about safeguards around our CBI programme and maintaining confidence in our system internationally.”
The Prime Minister stressed that compliance is non-negotiable. “If you haven’t met your obligations, you will be given the opportunity to correct them. If not, you lose your citizenship. Simple as that. Follow the law—it applies to everyone equally,” he said.
Highlighting the historic regional collaboration, Dr. Drew said, “I am signing with the other OECS countries a document to establish a regional regulatory body for CBI. I will table the first iteration of the bill in Parliament soon. Five countries have agreed. This is a huge step forward.”
The regulatory framework will include stringent enforcement measures, mandatory residency requirements for approved applicants, and biometric data collection to ensure transparency and compliance.
The CBI programme, a cornerstone of investment and development in St. Kitts and Nevis, has faced heightened international scrutiny. Dr. Drew stressed that the legal reforms and governance improvements are essential to safeguard the nation’s reputation and the credibility of its programmes. “Other regions can do what they want, but we are showing the international community that we take CBI governance seriously,” he said.
ECCIRA is the result of extensive consultations and negotiations over the past two years, involving legal experts, regional institutions, and international partners. The initiative aligns the region’s CBI programmes with global standards, addressing concerns from stakeholders worldwide and enhancing the programmes’ credibility.
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