Citizenship by investment programs in the Caribbean to receive uniform legislation and application forms

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After the Organization of Eastern Caribbean States (OECS) Authority’s 67th meeting in Antigua last month, Prime Minister of Dominica, Roosevelt Skerrit, told the press that the organisation’s respective heads of state have decided to introduce policies to make the region’s citizenship by investment programs more uniform.

Skerrit said that uniform CIP legislation, along with application forms, would be prioritised and that the organisation also planned to set up a committee (composed of representatives from the Regional Communications Centre (JRCC), the OECS Commission, and the Eastern Caribbean Central Bank) to oversee, audit and review the programs and give recommendations for enhancement.

Skerrit also revealed plans for staff to be trained in AML/CFT, stating the importance of them being trained and certified to ensure good governance, especially with financial transactions. It is hope this will also counter some of the criticism of Caribbean CIPS in recent years.

Head of Saint Lucia CIU and Chairman of the Citizenship by Investment Program Association, Nestor Alfred, revealed plans for Geneva to have a common regulator and stressed the need for information sharing between the respective due diligence departments.

Astons is a leading global immigration advisory firm with offices in London, Moscow, Dubai, Cyprus and China and offers residency & citizenship investment solutions in the UK EU & the Caribbean. Astons is a committed and regulated Member of the Investment Migration Council (IMC), for EU & Caribbean investment immigration.  

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