Last Updated on June 10, 2025, 7:30 AM AST by Anthony Morris
Five nations, which offer Citizenship by Investment Programme in the Caribbean Region, have launched the Regional Regulator for Citizenship by Investment Programmes (CIP/CBI). The regulator will help in improving the standard of the programmes, making the nations accountable and conduct regular checks on the workings of the programmes.
The Governor of the ECCB, Timothy N. J. Antoine spoke at length about the regional regulator at the Second Investment Gateway Summit which was hosted in St Kitts. The officials have shared that the CBI Nations are part of the Eastern Caribbean Currency Union (ECCU).
The Governor delivered his address on the Regional Regulator for Citizenship on June 3 at the St. Kitts Marriott Hotel. Governor Timothy N. J. Antoine has shared that the administration has achieved several milestones in regulating the CBI Programmes.
He noted that one of the most important prerequisites in the success of this effort is the support of the political leadership of all these nations. The ECCB has shared that they have taken the lead in the regional regulator for CBI/CIP projects due to their regulatory experience and expertise.
The Eastern Caribbean Central Bank has a stellar track record as a regional regulator. The ECCB is also one of four formal monetary unions globally, has eight members in its council. Five of these members offer Citizenship by Investment Project.
The Governor noted that the stability of the Eastern Caribbean Dollar is important for the investors. The currency is pegged to the US dollar for nearly five decades which has protected the currency against inflation.
The officials have shared that this also allows free repatriation of profits for investors without foreign exchange control. The Governor of the Eastern Caribbean Central Bank has also shared that the CBI/CIP has been helping nations develop their infrastructure.
He acknowledged that St Kitts and Nevis has used the CBI to fund road infrastructure project. In Dominica, the International Airport Project is also principally funded by the CBI funds.
Talking about the crucial role that CBI plays, the governor noted that at least two of the five CBI states depend on the Citizenship for fifty percent of their revenue. The governor explained that the framework would make sure that all the nations come under a single, uniform law.
The set up aims to minimize “regulatory arbitrage” and unfair competition and promote transparency and standards of the CBI nations. Under the regulator, the participants will be licensed, the regulator will monitor and enforce compliance in the market.
The participants have shared that and engage stakeholders locally and internationally. He officials have shared that the regulator will be a separate setup with the ECCB leading but not managing the role of the regulator.
Currently, An Interim Regulatory Commission (IRC) exists which includes members representatives from the member states, OECS Commission, CARICOM IMPACS, and the ECCB. The commission is working on regulatory frameworks.
The organization has shared that have been organized consultations and discussions to make sure that they can present a legal framework for the regional regulator for the citizenship by investment programmes in the Caribbean. The organization has shared that they will be sharing the post-draft consultation with the leadership for their inputs by July or August.
According to the ECCB governor, a formal legislation should be in place by the end of the year. The aim of the regulator is to make sure that the CBI Programmes can continue to enhance their quality and standards.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
