Caribbean Leaders Sign Agreement, Unified CBI Regulator Expected Soon
Table of Contents
Five Eastern Caribbean nations have agreed to create a single body to oversee their Citizenship by Investment (CBI) programs. Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia signed an agreement to launch the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA).
This is the region’s first unified CBI regulator. It follows two years of talks and increasing international pressure for stronger security and transparency.
A Turning Point for Caribbean CBI
Caribbean CBI programs have long brought in vital revenue for small island economies. Funds support recovery from natural disasters, climate resilience, and social development. But criticism from the United States, the United Kingdom, and the European Union grew louder in recent years. They suggested a stronger due diligence process, uniform oversight standards, and the creation of a Regional CBI Regulatory Authority.
ECCIRA is designed to fix these issues. It will create uniform standards, publish compliance reports, and enforce penalties across all five states. The new authority will also monitor compliance under a 92-article agreement.
Grenada will host the headquarters, with the announcement made by Prime Minister Dickon Mitchell during the opening of the new IMA Grenada offices. Offices will also be established across the region.
Stronger Safeguards for Applicants
The reforms set stricter rules for applicants and passport holders. All new applicants must provide biometric data during interviews. Existing citizens will also submit biometrics when renewing passports.
Residency rules have been tightened. More funding will flow into the CARICOM IMPACS Joint Regional Communications Centre, which handles regional security.
ECCIRA will keep shared registers of applicants, developers, and licensed agents. Annual compliance reports will be published to boost transparency. Importantly, the authority can now fine or revoke licenses when rules are broken.
These measures follow years of dialogue with U.S. officials, the European Commission, and consultations held between March and August 2025 with industry professionals and civil society groups.
Why Reform Became Unavoidable
For small island states, CBI is not a luxury but a necessity. Revenue from these programs supports fiscal stability and recovery. International partners acknowledge that ending them would devastate local economies.
The new agreement keeps the minimum investment at US$200,000. This level is meant to maintain credibility while still financing infrastructure, social programs, and climate resilience.
At the same time, global pressure is growing. The United States has hinted at travel restrictions for some CBI nations. The United Kingdom removed visa-free access for Dominica. The European Union is drafting laws that could suspend visa waivers for countries with weaker oversight.
By tightening rules now, Caribbean states aim to protect both investor confidence and international trust.
When Will ECCIRA Take Effect?
Each of the five parliaments must pass enabling legislation by October 2025. Once all ratifications are received, ECCIRA will take effect 30 days after the final approval.
Still, experts believe this timeline is ambitious. Drafting and enacting new laws in multiple jurisdictions will take time. Many expect ECCIRA to be fully operational only in early 2026.
Implementation Challenges
Industry observers also highlight risks. Stricter standards may reduce application numbers, testing political support for the reforms. One of the key challenges will be ensuring close coordination among all participating governments so that the reforms are implemented effectively.
To balance regional cooperation with national sovereignty, the agreement includes a withdrawal option. Any country can leave with six months’ notice. This ensures flexibility while still encouraging unity.
Final Thoughts
The creation of ECCIRA marks a turning point for the Caribbean’s citizenship industry. It shows governments are willing to work together and respond to international concerns, while protecting a vital source of revenue.
If successful, ECCIRA will bring stronger safeguards, greater transparency, and more stability for the long term. For both investors and island nations, this step offers a path toward a more credible and sustainable future for CBI.
How UNO Capital Assists
At UNO Capital, we closely monitor these developments and their impact on investors seeking second citizenship. A standardized regulatory framework will not only enhance the credibility of Caribbean CIPs but also provide greater security for investors. Our expert team is here to guide you through the latest changes and help you in securing your second citizenship. Contact us today.
Recent Posts
Author
