CIP/CBI Revenues Outpacing Non-Tax Income in OECS Nations
In a noteworthy advancement for the Eastern Caribbean economies, Citizenship for Investment Programmes (CIP) and Citizenship by Investment (CBI) initiatives have become vital revenue streams for the five nations within the Organisation of Eastern Caribbean States (OECS), particularly Antigua and Barbuda.
According to Timothy Antoine, Governor of the Eastern Caribbean Central Bank, these programs now contribute a staggering 75 cents of every non-tax dollar earned in the region.
During the formal handover ceremony for the chairmanship of the Eastern Caribbean Currency Union at the AUA conference center near Jabberwock Beach, Governor Antoine highlighted the classification of CIP/CBI revenues as non-tax revenue, underscoring their importance in the financial landscape.
In response to this growing dependency, the Central Bank has been actively working to create a robust legislative framework aimed at safeguarding these programs and ensuring their ongoing viability.
Antoine noted, “We have led efforts to establish a regional regulator, tasked with enhancing the credibility, integrity, and sustainability of these initiatives.”
The proposed legal framework has recently been made public for comment following extensive consultations with heads of government involved in the programs. The Governor expressed gratitude for the constructive feedback received so far, stating, “We have had very good feedback.”
Prime Minister Gaston Browne also addressed the importance of these programs, revealing that the draft legislation has been shared with key international stakeholders, including the US government, the United Kingdom, and the European Union. He emphasized the vital role that CIP/CBI programs play in bolstering the economies of ECCU member states and urged continued support for these initiatives.
As the region seeks to solidify its economic strategies, the future of CIP/CBI programs remains a topic of significant interest among stakeholders both locally and internationally.
This story was first published by Antigua News on : antigua.news/2025/07/18/cip-cbi-revenues-outpacing-non-tax-income-in-oecs-nations. © 2025 Antigua News. Republication without permission is not allowed.
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