Opposition shows support for new CIP Resolution

Leader of the Opposition in Parliament Jamal Pringle is sharing his support for the new CIP resolution.

The resolution, the Agreement for the establishment of an Eastern Caribbean Citizenship by Investment Regulatory body seeks to create a group with five CIP involved Caribbean countries to govern specific parameters of the CIP program, harmonize all the programs and strengthen enforcement of the protocols.

An independent board of nine directors will oversee operations, reporting to a council of ministers comprising the CIP-responsible minister from each participating state.

“This is a positive step in ensuring that our CIP is greater and satisfy some concerns aired by others. The extra barrier and framework is something that I welcome and just like we are supporting this resolution, and I am sure we will support the bill as well.

“I want to say to the people of Antigua and Barbuda it’s something that we should welcome, and I want to commend the persons who are behind this. It shows that we are serious about establishing a stronger framework based on the offerings within the CIP programs within the region,” Pringle said.

The treaty was signed on September 18 with several other CIP countries to aid in strengthening the program.

Over some time, the program has come under scrutiny by the international community.

Under the new framework, the minimum investment for a CIP application is increased from US $100,000 to $200,000 and applicants must spend at least 30 days over five years in a participating country, establishing a tangible connection to their adopted nation.

New citizens will also receive biometric passports, and applications denied by one member state will automatically be denied by all others, closing loopholes that allowed rejected applicants to shop between countries.

The authority will be funded initially through contributions from member states, then sustained through fees charged on applications processed.

Barbuda MP Trevor Walker while commending the effort of the islands, advised “to continue to have a mindset of a diverse economy”.

Walker said that even with all these major changes, the international community will continue to complain as the program is seen as a threat. Despite the fact they offer similar programs.

He counselled to “reduce our reliance on this program”.

Walker clarified that he is not saying that the program is not of value but to“look and see who how we can create contingencies” as he knows the pressure will continue because of the success of the program itself.

“It takes just a waking up one for these larger territories to say these programs are a threat…and if you don’t comply you get grey listed and blacklisted and all kinds of things.

“It is important that we start to think that way and move forward in a way that we can survive without this program. It may sound a bit harsh, but this is just the reality, and I know the prime minister has placed many efforts to sort of secure this program…Let us not feel all is well,” Waker cautioned.

His sentiments were echoed by St. Mary’s South MP Kelvin Simon of diversifying ways to attract income to the country.

The resolution was passed.

With the passing of this resolution, it then makes way for the Eastern Caribbean Citizenship by Investment Regulatory Authority Agreement Bill 2025.

The bill was also passed.