Heads of state from the Organisation of Eastern Caribbean States (OECS) convened in Dominica on July 10, 2026, to address significant concerns arising from recent communications with the European Union regarding their respective Citizenship by Investment (CBI) programs. The crucial meeting, chaired by Dominica’s Prime Minister Roosevelt Skerrit, brought together leaders from Antigua and Barbuda, Grenada, Saint Lucia, and St. Kitts and Nevis.
Addressing European Union Scrutiny on CBI Programs
The primary agenda item was the detailed examination of letters received from the European Union, which signal potential implications for the CBI programs operated by these five OECS member states. The leaders recognized that any changes or pressures concerning these programs could profoundly affect their nations’ economic resilience, long-term prosperity, and sustainable development trajectories.
Citizenship by Investment programs are a vital source of funding for many small island developing states within the OECS. The revenue generated plays a critical role in financing essential investments across various sectors, including climate resilience initiatives, disaster recovery efforts, infrastructure development, healthcare services, and educational advancements. The economic stability and future growth of these nations are significantly intertwined with the continued viability and structure of their CBI programs.
OECS Stance on Program Adjustments
The OECS heads of government emphasized that any proposed adjustments to existing CBI arrangements must be formulated with a deep understanding of the unique economic realities and developmental vulnerabilities faced by small island nations. They advocated for a collaborative approach, asserting that any modifications should be accompanied by the establishment of a comprehensive framework designed to safeguard the economic stability and development gains already achieved by these countries.
Furthermore, the OECS leaders called upon the European Union to assist in the development of sustainable alternative financing mechanisms. This request underscores the region’s commitment to diversifying its economic base while ensuring continued progress.
Commitment to Security and Governance Standards
During the discussions, the OECS leaders reaffirmed their unwavering commitment to upholding the highest standards of security, transparency, integrity, and good governance within their Citizenship by Investment programs. They highlighted the substantial reforms and crucial steps already undertaken by the member states over recent years to bolster program integrity, enhance due diligence processes, and ensure robust oversight.
A significant point of discussion was the establishment of the Eastern Caribbean Citizenship by Investment Regulatory Authority. The regional leaders view this body as a major stride forward in regional governance, providing enhanced oversight and a unified approach to regulatory matters across the participating islands.
Path Forward: Dialogue and Collaboration
The OECS heads of state expressed their openness to exploring practical and mutually beneficial solutions to the issues raised by the European Union. To facilitate direct engagement and constructive dialogue, they announced plans for a high-level mission to Brussels.
In Brussels, the leaders aim to engage directly with key European Union officials, including the President of the European Commission, the President of the European Council, and the High Representative of the Union for Foreign Affairs and Security Policy. This mission is intended to foster a deeper understanding of the OECS’s perspective and to collaboratively address the EU’s concerns.
The governments reiterated their commitment to strengthening the long-standing partnership between the European Union and the Eastern Caribbean. They stressed that any decisions regarding CBI programs should also consider opportunities for enhanced development cooperation, strategic investment partnerships, climate resilience financing, and economic diversification initiatives, thereby ensuring that the economic stability and development gains achieved through these programs are preserved and built upon.
The meeting concluded with a unified resolve among the OECS leaders to protect their economic interests while engaging constructively with international partners to ensure the continued success and integrity of their Citizenship by Investment programs.
