Caribbean five sign agreement to standardize Citizenship by Investment Programmes

Five Eastern Caribbean states, including Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis, and Saint Lucia have signed a landmark agreement to tighten oversight of their Citizenship by Investment Programmes (CBI), creating a regional regulatory authority to safeguard transparency and integrity.

The Heads of Government of OECS Member States has confirmed that this new decision will come into effect by October 2025, with the establishment of the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA). This new body will oversee all CBI activities across the participating countries and will ensure uniform standards across them.

Key Reforms

1. Regional Regulator: ECCIRA will provide detailed oversight, compliance checks, and harmonized rules across all the programmes.

2. Enhanced Security: Applicants will have to undergo a biometric data collection at interviews, with similar requirements at passport renewals. Stronger residency and genuine links condition will apply . An applicant screening will also be performed, supported by CARICOM IMPACS’ Joint Regional Communications Center, with an expanded capacity funded by CBI revenues.

3. Transparency and Accountability: All national CBI units and licensed agents will be following the basic standards, along with annual public compliance reports and regional registers to prevent any abuse.

4. Compliance and Enforcement: Penalties will be applied for breaches, including fines and revocations for non-performance.

5. Economic Sustainability: A region wide minimum investment threshold of US$200,000 has been set to protect the credibility of these programmes.

International Consultations

These reforms into the programme are notably led after two years of engagement with global partners including the United States, United Kingdom, and European Commission. Discussions on these took place at US-Caribbean roundtables in 2023 and 2024, consultations in Dominica and Grenada took place in 2024 and a follow up discussion in London in early 2025.

Regional governments also held separate consultations with their Attorney Generals, financial secretaries, civil society groups and industry professionals between March and August 2025 to finalize the implementation of this new initiative.

CBI programmes are vital for development

In a joint statement the heads of governments have stated that they are committed to ensure integrity of their programmes and ensure that they meet international security standards. This is as the CBI programmes are a key to development and growth across the Caribbean as they help fund key projects focused at infrastructure development and climate resilience.