By Caribbean News Global 
TORONTO, Canada – Caribbean CIP/CBI programs in Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and Saint Lucia are making an expected fast exit, pinned to many matters of litigation, potential cancellation of visa-free access to Europe, proposed US travel restriction/visa suspension and now, contract cancellation and termination.
Dominica, Grenada and St Kitts recently cancelled some CIP/CBI citizenships and blacklisted agents; however, business continues as usual in other Caribbean islands.
The question prevails on the validity of the MOA and principles to validate Caribbean CIP/CBI programs.
In addition, an Interim Regulatory Commission (IRC) has reportedly been established. A regional regulator is a key provision in the Memorandum of Agreement (MOA), which was published in March 2024. Once formally established through the enactment of enabling legislation in the participating countries, the regional CIP/CBI regulator will set standards for, and regulate the programmes in accordance with international best practices and will monitor and report on compliance, ECCB report.
Perhaps the draft legislation and enactment scheduled for December 2025 by the five Caribbean CIP/CBI islands will adjudicate “usefulness” that is “fit for purpose.”
Many serious allegations continue to be made that sharply contend with the utterances of local CIP/CBI authorities. Their response on limited occasions are hardly believable and of no validity to sway regional and internal influence and global decision-makers.
Of recent significance, CIP St Lucia contract cancellation and termination adds to matters of credibility, reputation and validity of programs under its investment options.
- CIP St Lucia Bemax housing project has been suspended, PM Pierre announced on December 18, 2024
- Saint Lucia has terminated the contract with Caribbean Galaxy announced on April 16, 2025
However, there remains complete silence on the December 2022 contract.
Citizenship by Investment Summit 2025 (CIS25) last week under the banner: Integrity, Stability, Sustainability, noted that:
“Caribbean Citizenship by Investment leaders align for Resilient Economic Futures at CIS25. Against a backdrop of shifting global policies and rising demands for transparency, the Citizenship by Investment Summit 2025 (CIS25) … this five-day summit convenes regional governments, international due diligence providers, global investment migration firms, and multilateral organizations to define a new era of Citizenship by Investment (CBI).”
“At its core, CIS25 is not just a gathering — it’s a statement. It asserts that sustainable development and investor confidence in small island developing states must be built on strong governance, strategic innovation, and ethical investment.”
The office of the prime minister of Grenada Dickon Mitchell Facebook page reads:
“As leaders of Caribbean nations with established Citizenship by Investment Programmes (CBIs), we engaged in a forward-thinking discussion on how to safeguard the credibility of our programmes through:
-
- Strengthened regional collaboration on due diligence and vetting;
- Balancing integrity with competitiveness;
- Adapting to global regulatory shifts;
- Fostering investor confidence through transparency;
- Harmonising policies across the region;
- Leveraging CBI frameworks for sustainable national growth.
“The integrity of our programmes must be actively preserved, through vigilance, collaboration, and a collective commitment to upholding the highest standards. By doing so, we ensure that the benefits of these programmes reach our people, strengthen our economies, and safeguard our reputation as trusted partners on the global stage.”
Delivering the budget address on April 22, 2025, prime minister and minister for finance, Phillip Pierre, said:
“It is sad and disappointing that while this government seeks to enhance the credibility of the programme, there are badly motivated individuals in the opposition who remain committed to destroying it by making outlandish and damaging statements about its operations. The level of their motivation has risen to consorting with foreign elements, hell-bent on destroying the image and reputation of our country,” adding, “ Saint Lucia’s CIP continues to grow whilst we seek to find continuous improvements in our process and has been rated highly in the global CIP space.”
In the interest of accountability and transparency, prime minister Pierre, announced:
“ Contrary to the bogus figures banded about by the opposition, the 2023-2024 audited Annual Report for the CIP unit indicates 1,171 applicants were approved for citizenship. For the year 2022-2023, 544 applicants and 2021-2022, 433 applicants. During these periods, 92 applicants were denied.
“This year, we pledge XCD $5 million from the proceeds of the CIP as the first installment into the Sovereign Wealth Fund (SWF), the fund will set an example for Saint Lucia to develop a culture of savings and investments and the creation of generational wealth.”~ Budget 2025/26.
At CIS 25, prime minister Pierre indicated that some of the proceeds from CIP will be channelled into the SWF Fund to support climate resilience and adaptation efforts, ensuring Saint Lucia can better withstand and recover from future environmental and economic shocks.
CNG Insights
The apprehension of prime minister of Saint Vincent and the Grenadines, Ralph Gonsalves is at hand, “ it is only a matter of time.”
The dominoes are falling, the gamble is over and the odds of safeguarding Caribbean CIP/CBI as an important part of the five Caribbean islands’ economic landscape is not a decision at the hands of Caribbean prime ministers and regional CIP/CBI authorities.
The CIP/CBI game is over, albeit, the various options are a major source of revenue for government dubious projects, political pet projects and social hand-outs.
Hitherto, previously undisclosed/unknown siphoning to illicit channels and Caribbean CIP/CBI politicians and authorities’ bank accounts; regulation, credibility, and reputation are superficial, if not, an attempt to divert the Caribbean sea.
The post Caribbean CIP/CBI making a fast exit appeared first on Caribbean News Global.
