Parliament has passed the Special Economic Zone Amendment Bill 2026, with Attorney General Sir Steadroy "Cutie" Benjamin warning that Antigua and Barbuda must keep pace with shifting global economic conditions or risk losing out on critical investment opportunities. According to Antigua News Room, Benjamin introduced the bill and made clear that the government views the legislation as essential to remaining competitive on the world stage.
Introducing the bill before lawmakers, Benjamin said the government is responding proactively to global economic shifts and positioning the twin-island nation to attract foreign investors.
"This government, being proactive, looked at the geographical situation in which the world finds itself today… to create the environment to attract to Antigua and Barbuda persons who are desirous of establishing special economic zones," he said.
Benjamin pointed to global instability, including conflict in the Middle East, as generating displaced investment that countries around the world are actively competing to attract. "All over the world… there are countries vying to attract these persons… to do business," he said. "We are not therefore going to be left behind. We are moving with the times."
The attorney general explained that the amendments update and strengthen the legal and regulatory framework originally established under the 2015 Special Economic Zone legislation. "Things have changed… economies have changed," Benjamin told Parliament, noting the bill is designed "to strengthen and clarify the legal… framework governing special economic zones in Antigua and Barbuda."
A central focus of the new legislation is ensuring strict compliance with international financial regulations. Benjamin confirmed that all activities conducted within the zones remain fully subject to domestic law, including provisions covering anti-money laundering, corporate transparency, financial regulation, and law enforcement. The bill also addresses compliance with global standards related to the prevention of terrorist financing and proliferation financing.
The amendments introduce enhanced due diligence requirements for investors and operators seeking to work within the zones. "What we have effectively done is to ensure that all international obligations are complied with… identity is established, source of funds identified," Benjamin said, stressing that safeguards are in place "to make sure that no one can come to this country and take advantage of our nation."
The legislation also clarifies licensing procedures, requiring that businesses meet all regulatory requirements before beginning operations within a zone, and establishes a structured approval system for zone users. Benjamin said the framework ensures full state oversight is maintained at all times. "Even if we're in the zone… [entities] are all subjected to the control of the local law… because we want to ensure… we control what happens in the zone," he said.
The attorney general highlighted the broader development purpose of special economic zones, describing them as tools to attract foreign investment, boost exports, create jobs, and diversify the national economy.
The bill passed through all its stages in the House. Benjamin said the overarching objective is to strike a balance between competitiveness and compliance, keeping Antigua and Barbuda attractive to international investors while upholding all relevant international obligations.
