The Interim Regulatory Commission (IRC) has published the draft legislation for the establishment of a regional regulator for Citizenship by Investment Programmes (CBI/CIP) – the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA).
The draft legislation is available on the ECCB website for public comment until 16 July 2025.
The completion and publication of the draft legislation is a significant milestone in the ongoing effort to strengthen the transparency, accountability and integrity of CBI/CIP.
Once operationalised, the ECCIRA will regulate and supervise the industry, through a uniform law and common standards.
The draft legislation was completed following a series of in-country consultations, which were led by the IRC, over the period March to April 2025.
The consultations saw the IRC and the Legal Drafting Consultant, Ms Lydia Elliott, engage a broad and inclusive set of stakeholders – from Government, the CBI/CIP industry, international partners, the media and social partners.
The engagements provided critical feedback to guide the preparation of the draft legislation.
The IRC was appointed by the Heads of Government of the five countries with CBI/CIP Programmes, to oversee the establishment of a regional regulator.
The eight-member IRC comprises the following appointees:
1. Antigua and Barbuda – Lieutenant Colonel Edward Croft (Deputy Chair)
2. Commonwealth of Dominica – Ms Francine Baron
3. Grenada – Ms Julia Lawrence
4. Saint Christopher (St Kitts) and Nevis – Archdeacon Isaiah Phillip
5. Saint Lucia – Mr Evaristus Jn Marie
6. CARICOM Implementation Agency for Crime and Security (IMPACS)/Joint Regional Communications Centre (JRCC) – Mr Rufus Ferdinand
7. Organisation of Eastern Caribbean States (OECS) Commission – Mr Henith Gabriel
8. Eastern Caribbean Central Bank (ECCB) – Governor Timothy Antoine (Chair)
The IRC wishes to thank all persons who have contributed to shaping the legal framework and now invites all and sundry to provide feedback on the draft now offered for public comment.
Feedback should be submitted via the following channels:
Email: CBIRegulator@eccb-centralbank.org or WhatsApp: 1 (869) 662-3543.