IMF Backs New Regional Regulator for Citizenship by Investment Programs

The International Monetary Fund has endorsed the establishment of a new regional regulator for Citizenship by Investment Programs (CIPs) across the Eastern Caribbean, saying stronger oversight is critical to safeguarding financial integrity and sustaining investor confidence.

In a concluding statement following its Article IV consultation mission, IMF staff said the creation of an independent regulator at the Eastern Caribbean level is a welcome step toward improving governance, transparency and consistency in the administration of CIPs.

The Fund said the new regulator is expected to play a key role in strengthening anti-money laundering and countering the financing of terrorism (AML/CFT) compliance, particularly as jurisdictions prepare for upcoming regional and international assessments under updated Financial Action Task Force standards.

IMF staff noted that Antigua and Barbuda and other ECCU countries with citizenship programs have already enacted legislation to establish the regional oversight body, marking an important move toward harmonized standards across participating states.

Once fully operational, the regulator is expected to set and enforce uniform regulatory requirements, enhance transparency in program administration and publish annual compliance reports, providing greater public accountability and reducing reputational risks.

The IMF said robust governance of CIPs remains essential given their importance to fiscal revenues and external financing, while cautioning that weaknesses in oversight could expose countries to financial and regulatory vulnerabilities.

Overall, the Fund said stronger regional coordination and transparency in the management of citizenship programs would help protect financial stability, support compliance with international norms and reinforce confidence in the ECCU’s financial system.

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