The Citizenship by Investment Member States of the Organisation of Eastern Caribbean States (OECS) have signed a landmark agreement to create the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA), a unified body to oversee Citizenship by Investment Programmes (CIP) across the region. This development, which St. Kitts and Nevis helped spearhead, is designed to strengthen transparency, integrity, and sustainability in one of the region’s most critical development tools.
ECCIRA, which will become operational by October 2025, will regulate and enforce uniform standards across Antigua and Barbuda, Dominica, Grenada, St. Lucia, and St. Kitts and Nevis. As the first nation in the world to have established a Citizenship by Investment programme in 1984, St. Kitts and Nevis played a pivotal role in shaping the reforms that culminated in this agreement, building on discussions that began at the inaugural US–Caribbean Roundtable on CBI hosted at Park Hyatt Saint Kitts in February 2023.
The reforms include mandatory biometric collection for applicants, stricter residency requirements, CARICOM IMPACS-supported vetting, and binding transparency measures such as regional registers of applicants and agents. ECCIRA will also enforce compliance through penalties, revocations, and region-wide audits. To enhance credibility, participating States have agreed to a minimum investment threshold of US$200,000.00, ensuring that revenues continue to support climate resilience, social development, and long-term economic sustainability.
Prime Minister Dr. Terrance Drew, described the agreement as a milestone in safeguarding the reputation of CIPs while protecting their central role in national development. He stressed that the reforms align with international security expectations while preserving essential revenues for small island developing states.
The announcement follows extensive consultations with the United States, United Kingdom, European Commission, Attorneys-General, Financial Secretaries, industry representatives, and civil society. International partners have acknowledged that dismantling CIPs would pose severe risks to the survival of small island economies, and instead recognised the strengthened frameworks as proof of regional commitment to integrity and accountability.
The establishment of ECCIRA positions the OECS Citizenship by Investment Programmes as more resilient and credible in the eyes of global partners, ensuring their continued contribution to the fiscal stability and growth of the region.
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