Antigua and Barbuda’s Parliament has approved groundbreaking legislation paving the way for the creation of a regional regulatory authority to oversee Citizenship by Investment (CIP) programmes across five Eastern Caribbean nations; a move hailed as a significant stride toward transparency, integrity, and harmonization within the lucrative investment citizenship sector.
The Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA) will serve as a unified body governing the operations of CIP and CBI programmes in Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia, standardizing vetting procedures, investment thresholds, and due diligence processes across all member states.
The resolution and accompanying Bill were passed in the House of Representatives on Wednesday with bipartisan support.
The initiative follows the formal signing of the ECCIRA agreement by Prime Minister Gaston Browne and his regional counterparts on September 18, signalling a new era of collective oversight in one of the Caribbean’s most closely watched economic sectors.
“This is about protecting the integrity of our programmes and positioning the Eastern Caribbean as a model of best practices globally,” Browne said in Parliament, noting that Antigua and Barbuda has long pushed for standardization to avoid unhealthy competition among member states.
Under the new regulatory framework, the minimum investment threshold for a CIP application will rise from US$100,000 to US$200,000, while applicants will now be required to spend at least 30 days over a five-year period in a participating country — strengthening the link between new citizens and their adopted homes.
Additionally, all applicants will receive biometric passports, and any application rejected by one member state will automatically be disqualified region-wide, effectively eliminating the practice of “passport shopping.”
The new authority will initially be funded by contributions from member governments before transitioning to a self-sustaining model through processing fees. It will be managed by a nine-member board of directors reporting to a Council of Ministers representing each participating country.
Opposition Leader Jamale Pringle welcomed the initiative, describing it as a necessary step to reinforce the programme’s credibility and protect the region’s shared reputation.
“I’m pleased to see a unified approach with stronger due diligence and oversight across all participating states,” he said.
Similarly, MP Kelvin Simon of St. Mary’s South praised the harmonized framework as vital to ensuring the long-term viability and international acceptance of regional CIP programmes.
However, some members, including MP Trevor Walker of Barbuda, cautioned that while the reforms may strengthen regional governance, the Caribbean must continue diversifying its economies to reduce dependence on citizenship revenues, warning that international pressure from larger nations could persist.
The Bill now heads to the Senate for final approval, after which ECCIRA will become operational once all five participating countries complete their ratification processes.
Prime Minister Browne said the creation of ECCIRA marks a defining moment for the region:
“Our goal is not to defend the past, but to shape a future where Caribbean programmes set the global benchmark for credibility and transparency.
Finally! This was long overdue. The region needed one standard system to clean up the inconsistencies and protect our international reputation.
Thirty days in five years is fair. If you’re becoming a citizen, you should at least spend some time in the country.
Interesting development, but we still depend too heavily on CIP money. What happens if the EU or US tighten the rules again?
I really hope that this move places out program including the other OECS countries on a better footing and makes it less of what is perceived as a threat to the US.
They selling passport but like the don’t want anybody else to have that privilege
Good move for the region. International partners will take us more seriously with proper monitoring.
Another committee, another watchdog… Let’s just hope this one actually watches something. Caribbean bureaucracy can turn even good ideas into sleeping dogs.
One thing I know for sure is that the EU and the US dont want us to continue with the CIP
The CIP is the driving force of our economy we need to do what we can to preserve it
How a country decides to operate is not anyone’s business. These large so called super powers always have some kind of idea on how we should run our revenue earning tools. America is printing our Eastern Caribbean dollars. Lol that’s is all I will st. Notice the trend. It’s about control. So all these changes and watchdogs being put in place is as a result of recommendations from a country that stole the Indian land and kill off their people.
Finally! This was long overdue — the region needed a unified system to eliminate inconsistencies and safeguard our international reputation.
Whose idea was this?
Unless Europe and America don’t see us on our knees they won’t stop at trying to destroy our little revenue earner
Who is watching the watchdog then?
Happy everyone agreed to this
Our little islands need that CIP money. We have nothing else