The European Commission has asked countries in the Organisation of Eastern Caribbean States operating Citizenship by Investment programmes to phase them out by June 1, 2028.
Prime Minister Roosevelt Skerrit says regional leaders have accepted an offer to meet with European officials in Brussels to discuss the request, but no date has yet been set for the talks.
Skerrit said OECS governments want the meeting to take place sooner rather than later so they can receive a clear explanation of what the European Union is proposing and what support may be available to countries that depend heavily on CBI revenue.
“We have indicated our interest to meet, we have accepted the offer to meet and to discuss, and we will hear from them at the appropriate time when we decide to schedule those meetings,” he said.
The Prime Minister argued that any plan to end the programmes should be accompanied by a ten-year financing arrangement to help participating countries make investments that generate replacement revenue.
He said the period would allow OECS economies to place strategic investments in position and give those projects enough time to begin producing economic returns.
Skerrit also defended Dominica’s CBI programme, saying the country should not apologise for using it to finance national development and social support.
He said CBI revenue has assisted the National Employment Programme, supported efforts to reduce poverty and helped the state provide care for senior citizens and people living with illnesses who require daily assistance.
The Prime Minister also pointed to employment created through hotels developed under the programme, arguing that the impact of CBI can be seen in the number of people working across the tourism sector.
The proposed 2028 deadline is expected to be a major issue during the planned Brussels meeting, as OECS leaders seek clarity on the European Commission’s position and the financial arrangements that could follow any phase-out of the programmes.
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