{"id":212439,"date":"2024-09-25T11:16:11","date_gmt":"2024-09-25T15:16:11","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=212439"},"modified":"2024-09-25T11:16:13","modified_gmt":"2024-09-25T15:16:13","slug":"caribbean-countries-establish-interim-regulatory-commission-for-citizenship-by-investment-programmes","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/caribbean-countries-establish-interim-regulatory-commission-for-citizenship-by-investment-programmes\/","title":{"rendered":"Caribbean Countries Establish Interim Regulatory Commission for Citizenship by Investment Programmes"},"content":{"rendered":"
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Commission f<\/strong>or Citizenship b<\/strong>y Investment Programmes<\/strong><\/p>

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2<\/strong>5<\/strong> September<\/strong> 2024<\/strong>, Basseterre, St Kitts and Nevis<\/strong> \u2013 The Caribbean countries that offer Citizenship by Investment Programmes (CIP\/CBI) have taken a practical step towards the establishment of a regional regulator by appointing an Interim Regulatory Commission (IRC).  The establishment of 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 o<\/a>f 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.  <\/p>\n\n\n\n

The signatories of the MOA are: Antigua and Barbuda, Commonwealth of Dominica, Grenada, Saint Christopher (St Kitts) and Nevis and Saint Lucia.  <\/p>

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Appointees to the IRC are professionals not directly involved in the administration or promotion of Citizenship by Investment Programmes and are drawn from diverse fields including law, economics, finance, audit, compliance and law enforcement.  <\/p>

\"\"<\/a><\/div>\n\n\n\n

The eight-member IRC comprises the following appointees:<\/p>\n\n\n\n

1.\u200bAntigua and Barbuda \u2013 Lieutenant Colonel Edward Croft (Deputy Chair)<\/p>

\"\"<\/a><\/div>\n\n\n\n

2.\u200bCommonwealth of Dominica \u2013 Ambassador Francine Baron <\/p>\n\n\n\n

3.\u200bGrenada \u2013 Ms Julia Lawrence <\/p>

\"\"<\/a><\/div>\n\n\n\n

4.\u200bSaint Christopher (St Kitts) and Nevis \u2013 Archdeacon Isaiah Phillip<\/p>

\"\"<\/a><\/div>\n\n\n\n

5.\u200bSaint Lucia \u2013 Mr Evaristus Jn Marie<\/p>\n\n\n\n

6.\u200bCARICOM Implementation Agency for Crime and Security (IMPACS)\/Joint Regional Communications Centre (JRCC) \u2013 Mr Rufus Ferdinand<\/p>\n\n\n\n

7.\u200bOrganisation of Eastern Caribbean States (OECS) Commission \u2013 <\/p>\n\n\n\n

Mr Henith Gabriel<\/p>\n\n\n\n

8.\u200bEastern Caribbean Central Bank (ECCB) \u2013 Mr Timothy Antoine (Chair)<\/p>\n\n\n\n

The IRC will serve as a technical working group charged with fully developing the plans for the regional regulator and for its implementation. It will operate until the first Board of the regional regulator is appointed.  <\/p>\n\n\n\n

Its immediate tasks are to oversee the preparation of the enabling legislation and to facilitate public consultation ahead of enactment of this legislative framework.  <\/p>\n\n\n\n

The IRC held its first meeting on 24 September 2024.  <\/p>\n\n\n\n

The regional regulator will be a separate legal entity and will be housed outside of the ECCB.<\/p>\n\n\n\n

At this stage, it is anticipated that the regional CIP\/CBI regulator will be established in the second half of 2025.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Commission for Citizenship by Investment Programmes 25 September 2024, Basseterre, St Kitts and Nevis \u2013 The Caribbean countries that offer Citizenship by Investment Programmes (CIP\/CBI) have taken a practical step towards the establishment of a regional regulator by appointing an Interim Regulatory Commission (IRC).  The establishment of a regional regulator is a key provision in the Memorandum of Agreement […]<\/p>\n","protected":false},"author":3,"featured_media":212440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-212439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nCaribbean Countries Establish Interim Regulatory Commission for Citizenship by Investment Programmes - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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