Caribbean Nations to Ratify Regional CBI Regulator in October 2025

Five Eastern Caribbean nations, Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia are now moving from agreement to enactment on the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA).

Following the August 2025 signing of the 92-article Agreement, governments must now pass legislation through their respective parliaments for ECCIRA to gain binding authority.

The Organisation of Eastern Caribbean States (OECS) confirmed that each country will seek parliamentary ratification by October 2025. ECCIRA will formally take effect on the 30th day after the fifth instrument of ratification is deposited.

A Unified Regional Regulator

ECCIRA will provide uniform oversight of citizenship by investment (CBI) programs across the region.

The framework introduces:

• Mandatory 30-day residency for new applicants
• Annual application quotas to control inflows
• Enhanced due diligence standards and biometric data collection
• Cross-border enforcement, including blacklisting of agents across all states
• Centralized database management under CARICOM IMPACS

Headquartered in Grenada, the regulator will establish offices on each participating island and hire staff to oversee compliance and enforcement.

Addressing International Pressure

The move follows sustained scrutiny from the United States, United Kingdom, and European Union, all of which raised concerns over program integrity and security gaps.

• The US has considered travel restrictions on four Caribbean CBI jurisdictions
• The UK revoked visa-free entry for Dominica in 2023
• The EU has proposed mechanisms to suspend visa waivers for countries with citizenship programs

By introducing regional oversight, ECCIRA aims to restore credibility while ensuring CBI revenues continue to support infrastructure, climate resilience, and social development in small island economies.

Next Steps

The coming weeks will be crucial as the five parliaments debate and vote on the enabling legislation. Once ratified, ECCIRA will gain the authority to:

• Impose sanctions and financial penalties on non-compliant states
• Revoke licenses for developers and agents failing to meet standards
• Enforce binding arbitration between states in cases of ongoing breaches

The framework also allows countries to withdraw with six months’ notice, balancing regional cooperation with national sovereignty.