Melissa Skerritt Champions Stronger Oversight for Citizenship by Investment
Housing Minister Melissa Skerrit has voiced strong support for the Eastern Caribbean Citizenship by Investment (CBI) Regulatory Authority Agreement Act, recently approved by the Dominica Parliament.
Speaking during the parliamentary debate, Skerrit described the measure as a decisive step in strengthening oversight and credibility across the region’s CBI programs. She emphasized that the bill not only improves governance and accountability but also gives legal weight to a unified regulatory framework that standardizes implementation across participating OECS states.
“The bill hardwires best practices,” she said, citing enhanced due diligence, fit and proper tests, audit trails, and strict penalties for breaches. Skerrit stressed that these provisions move the program away from reliance on personalities or preferences and toward predictable, professional systems.
The Housing Minister also highlighted additional protections introduced under the new framework. These include residency requirements, mandatory reporting, and disciplined escrow controls to ensure that funds mobilized through the program translate directly into tangible development outcomes. According to her, this secures national interests while deepening authentic links with investors.
Skerrit pointed out that the act reinforces transparency, fosters regional cooperation, and safeguards the development impact of CBI revenues. “Every dollar mobilized must be tied to clear benchmarks and value for money,” she stated, underlining that the law represents a turning point in ensuring Dominica and its OECS partners maintain high international standards.
The bill follows the September 2025 agreement among Dominica, Antigua and Barbuda, Grenada, St. Kitts and Nevis, and St. Lucia to establish a joint CBI regulatory body, the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA), a move widely seen as critical for maintaining the global credibility of the programs.
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