BASSETERRE, SAINT KITTS, OCTOBER 17, 2025 (SKNIS) – The Government of Saint Kitts and Nevis has taken a historic step to strengthen the integrity, transparency, and sustainability of the Citizenship by Investment (CBI) Programmes in the Eastern Caribbean, with the successful passage of the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA) Agreement Bill, 2025, in the National Assembly on Friday, October 17, 2025.
The landmark legislation, championed by Prime Minister and Minister of Citizenship and Immigration, the Honourable Dr. Terrance Drew, establishes a regional regulatory authority that will provide unified oversight, regulation, and enforcement across participating Eastern Caribbean States. The move represents a major milestone in regional cooperation to safeguard the credibility and international reputation of the Citizenship by Investment industry.
“We are serious when we say that as a region we want to have harmonisation of our programmes, making sure that our programmes are properly managed, safe, and that they continue to deliver for the development of the region and our people,” said Prime Minister Drew. “This Bill demonstrates that we really mean business when it comes to regulating the CBI programmes throughout the OECS.”
The new Authority will be mandated to promote accountability, transparency, and due diligence across all participating jurisdictions. It will have the power to issue regulations, conduct reviews, and enforce compliance through a full range of mechanisms. The legislation also introduces offences and penalties for breaches, including administrative fines, licence revocations, and criminal referrals for serious misconduct. Transitional provisions ensure a smooth and effective commencement of the Authority’s functions.
Prime Minister Drew described the Bill’s passage as the culmination of years of collaboration and reform efforts within the Organisation of Eastern Caribbean States (OECS).
“This process took us a number of years, and to culminate with a regulatory body within the OECS is a tremendous achievement,” Dr. Drew noted. “I feel satisfied that what would have been the most challenging aspect of my leadership – the Citizenship by Investment programme – is being dealt with, to the point where we are now finalising.”
He also issued a clear message to stakeholders within the CBI industry, stating, “We expect you to follow the laws and regulations. We expect you to do business in a transparent, fair way that protects your business, your country, and our partners. We expect you to act responsibly to ensure that our programmes do not come under scrutiny that affects their reputations.”
The passage of this legislation marks another major milestone in the transformative reform agenda led by the Drew Administration since taking office in 2022. The ongoing reforms aim to modernise and fortify the Saint Kitts and Nevis CBI Programme through regional cooperation, strengthened governance, and enhanced due diligence—ensuring that the Programme remains credible, competitive, and trusted globally.
“This Bill demonstrates that we really mean business when it comes to regulating the CBI programmes throughout the OECS,” Prime Minister Drew concluded.
-30-
