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BASSETERRE, ST. KITTS — July 3, 2025 — In a major step toward increased transparency and accountability in the Caribbean’s Citizenship by Investment (CBI/CIP) industry, the Interim Regulatory Commission (IRC) has officially published the draft legislation to establish the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA).

The draft legislation, now available on the Eastern Caribbean Central Bank (ECCB) website, is open for public comment until July 16, 2025, as part of a region-wide consultative process to shape the future oversight of CBI/CIP programmes across the Eastern Caribbean.

This development marks a significant milestone in the region’s ongoing efforts to strengthen the governance and credibility of CBI/CIP schemes, which have drawn both international investment and scrutiny in recent years.

Once operational, ECCIRA will serve as the regional regulatory authority, enforcing uniform laws and common standards across all participating CBI/CIP jurisdictions.

The draft legislation is the result of a robust consultation process led by the IRC from March to April 2025, involving governments, CBI/CIP stakeholders, international partners, media representatives, and civil society. These sessions, conducted in collaboration with Legal Drafting Consultant Ms. Lydia Elliott, provided critical insights that shaped the current version of the draft bill.

The IRC was established by the Heads of Government from the five OECS countries with active CBI/CIP programmes and includes prominent representatives from each:

1. Antigua and Barbuda – Lieutenant Colonel Edward Croft (Deputy Chair)
2. Commonwealth of Dominica – Ms. Francine Baron
3. Grenada – Ms. Julia Lawrence
4. Saint Kitts and Nevis – Archdeacon Isaiah Phillip
5. Saint Lucia – Mr. Evaristus Jn Marie
6. CARICOM IMPACS/JRCC – Mr. Rufus Ferdinand
7. OECS Commission – Mr. Henith Gabriel
8. ECCB – Governor Timothy Antoine (Chair)

The IRC has extended its gratitude to all who contributed to the drafting process and now urges the public, stakeholders, and interested parties to review the document and provide feedback.

Submissions may be made via email to:
CBIRegulator@eccb-centralbank.org
Or WhatsApp: +1 (869) 662-3543

This regional effort represents a pivotal moment for ensuring the long-term sustainability and international credibility of Caribbean CBI/CIP programmes.