ST. JOHN’S, Antigua, CMC – The Antigua and Barbuda Parliament has appointed a select committee to conduct an in-depth study of the new legislation intended to form part of regional efforts to harmonize their respective legislations on the Citizenship by Investment (CBI) programme.
The legislation – the Eastern Caribbean Citizenship by Investment Regulatory Authority (Agreement) Bill, 2025 – had its first and second readings in the House earlier this week.
Under the CBI, foreign investors are granted citizenship of the island in return for making a substantial investment in the island’s socio-economic development.
Prime Minister Gaston Browne, in tabling the legislation, noted that, based on recommendations from the United States, Canada, the UK, and the European Union, and following extensive consultations across the sub-region to gather input from interested parties as well as members of the public, the legislation was drafted. It is being presented before the parliaments in the respective countries for approval.
He noted, however, that these recommendations had been previously proposed by Antigua and Barbuda as many as ten years ago. Still, the other CIP countries in the region were not willing to go along.
However, he said international pressure has brought them all together to agree on the need for a unified approach to the operation of these programmes.
“We have gone the extra mile by establishing a regulatory authority which will be backed by the legislation and to which all of the CIP Units will be accountable. “There are some fundamental changes, such as the collection of biometrics to assist in traceability, as well as provisions for funding of the authority and agencies, such as IMPACS, which assist with the due diligence procedures. There will also be a residency requirement, as enshrined in the bill. Currently, only Antigua and Barbuda has that provision,” he said.
The legislation is to be adopted by all five CIP-granting territories in the OECS: Antigua and Barbuda, St. Lucia, Grenada, Dominica, and St. Kitts and Nevis.
It is anticipated that all five parliaments will adopt the legislation by October this year.
Browne will chair the Select Parliamentary Committee, which includes the Attorney General, Sir Steadroy Benjamin, and Opposition Leader Jamale Pringle.
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