Walker Backs Stronger Citizenship by Investment Rules as Parliament Passes Amendment Bill

Barbuda MP Trevor Walker on Tuesday threw his support behind sweeping changes to Antigua and Barbuda’s Citizenship by Investment (CIP) programme, telling Parliament the country’s most important source of non-tax revenue must be governed with greater transparency and accountability if it is is to withstand growing international scrutiny.

The House of Representatives later passed the Citizenship by Investment (Amendment) Bill, 2026, which aligns Antigua and Barbuda’s legislation with the new Eastern Caribbean Citizenship by Investment Regulatory Authority and introduces stronger oversight, mandatory audits, expanded reporting requirements and enhanced regulatory control over agents and service providers.

Walker said the amendments were necessary because the programme has become a critical pillar of the country’s finances.

“It remains a very vital part of the budget of Antigua and Barbuda,” he said, estimating that the programme generates more than $100 million annually.

He warned, however, that the programme faces mounting geopolitical pressures and may not exist indefinitely, making it essential to protect its credibility now.

“I am happy to see that the government is doing some things to strengthen the actual legislation governing this CIP programme,” Walker told the House.

The Barbuda representative welcomed the return of stronger audit requirements, noting that provisions requiring annual audits had been repealed in 2016.

He said restoring those measures, while adding provisions for responses to audit findings, special audits and additional reporting, would improve transparency and accountability.

“I’m happy to see that the government is putting back that audit requirement because it is important for transparency and accountability,” Walker said.

Walker also urged the government to restore the detailed six-month reports that were originally required under the 2013 legislation, saying Parliament should once again receive information outlining contributions, investments and other programme activity.

He noted that although reports continue to be tabled, they no longer contain the level of detail required by the original law.

“Let us get back to that 2013 Act,” he said, arguing that the programme should leave “no suspicion” in the minds of Antiguans and Barbudans or international partners.

Walker said increased transparency has become even more important as Antigua and Barbuda faces scrutiny from the European Union and the United States over its investment migration programme.

He acknowledged that fierce competition among regional CIP jurisdictions had previously led countries to weaken programme standards in an effort to attract applicants, but said the region was now moving back toward harmonized rules.

“When this boat sinks, we all go down with it,” Walker said, adding that a passport loses much of its value if visa-free access to major destinations is restricted.

He also credited Prime Minister Gaston Browne for consistently advocating the creation of a regional regulatory body to oversee citizenship by investment programmes across the Organisation of Eastern Caribbean States.

“I know you’re pushing for this, so I have to give you some credit,” Walker said. “Let us make sure it works.”

Earlier, Browne said the legislation is primarily intended to bring Antigua and Barbuda’s domestic law into conformity with the Eastern Caribbean Citizenship by Investment Regulatory Authority Agreement, which takes effect later this year.

He said the regional authority will establish uniform standards across participating countries while reducing the ability of individual jurisdictions to depart from agreed rules.

Among the changes is a requirement for annual independent financial audits and biannual operational audits of all CIP units, with the new regional authority responsible for ensuring compliance and safeguarding the integrity of programme data.

The bill also increases the minimum residency requirement for successful applicants and their dependents from five days to 30 days, bringing Antigua and Barbuda into line with the regional standard already agreed by OECS member states.

Browne said the amendment removes any inconsistency between domestic legislation and the regional agreement and reflects a policy that has already been implemented administratively.

Additional provisions require the Citizenship by Investment Unit to submit six-monthly reports to both the regional authority and Parliament, while giving the regulator expanded authority to oversee the programme.

The authority will now pre-qualify agents, require no-objection notices before licences are issued, mandate compliance with regional standards and guidelines, and require the revocation of licences where regulatory approval is withheld or withdrawn. Browne said the changes are intended to prevent unsuitable promoters from participating in the programme and to ensure greater consistency across the region.

The bill was passed following debate in the House.

This article was originally published by Antigua News Room. Read the original article here: Walker Urges Return to Detailed Citizenship by Investment Reports as Parliament Passes Amendment Bill.