Legislation for Establishing the Eastern Caribbean Citizenship by Investment Regulatory Authority
In May, 2025 I attended the 7th Meeting of Attorneys General and Chief Parliamentary Counsels of the Eastern Caribbean Central Bank held at the Aurora Hotel, Anguilla.
The meeting was well attended by Attorneys General of Dominica, Grenada, St. Kitts and Saint Lucia and the Chief Parliamentary Counsels of various OECS Member States. Also in attendance were the members of the Interim Regulatory Commission, Ms. Lydia Elliott who serves as the Legislative Drafting Consultant of the Eastern Caribbean Central Bank (the Consultant).
The aim of this meeting was to discuss the draft Eastern Caribbean Citizenship by Investment Regulatory Authority Agreement Bill, 2025 (the draft Agreement). Notably, the work on the draft Agreement was undertaken by the Interim Regulatory Commission (IRC) which comprises members of the five OECS Member States that administer a Citizenship by Investment Programme, the Organization of Eastern Caribbean States Commission (OECS), CARICOM IMPACS/JRCC and the Eastern Caribbean Central Bank (ECCB).
The Consultant delivered a presentation on the draft Agreement and thereafter the meeting continued with robust discussions regarding the establishment, management, financing, functions and powers of the Eastern Caribbean Citizenship by Investment Regulatory Authority (the Regional Regulatory Authority). Some of the key roles of Regional Regulatory Authority include providing measures to be undertaken for stricter due diligence checks, a yearly maximum for applications for citizenship by investment and regional monitoring and compliance with the standards governing the citizenship by investment programmes administered under the laws of OECS Member States.
The Regional Regulatory Authority will therefore provide for a uniform framework to guarantee the integrity, transparency and accountability of the Citizenship by Investment Programmes in the region.
Tricia Cypal-Edward,
Deputy Director of Legislative Drafting.