ST. JOHN’S, Antigua – Leader of Government Business in the Senate, Senator Shenella Govia, on Thursday described the Eastern Caribbean Citizenship by Investment Regulatory Authority Agreement Bill 2025 as a “momentous step forward” in advancing transparency, integrity, and accountability across the region’s Citizenship by Investment (CBI) programs.

Presenting the bill to the Upper House, Govia said the legislation gives domestic legal effect to the agreement establishing a regional authority to regulate and harmonize CBI programs among Eastern Caribbean states. The new body will set uniform due diligence standards, approve frameworks for applicant eligibility, and maintain a regional register of agents and developers.

The bill also introduces penalties for misconduct, including fines of up to US$250,000 for submitting false or misleading information, and establishes a Council of Ministers comprising representatives from each member state to oversee implementation and policy direction.

Govia said Antigua and Barbuda, as a pioneer in the Citizenship by Investment sector, must safeguard against reputational harm and potential sanctions by upholding the highest standards of compliance. She added that the legislation reinforces public confidence and reassures global partners that the region is committed to transparency and good governance.

“This is a responsible and forward-thinking measure,” Govia said. “It signals to the world that as Eastern Caribbean nations, we are united in protecting the value and credibility of our programs while strengthening the legal framework that underpins them.”

The bill was passed without amendments following broad bipartisan support in the Senate.