In a strategic move to enhance its global economic competitiveness, Antigua and Barbuda’s Parliament has ratified the Special Economic Zone Amendment Bill 2026. Attorney General Sir Steadroy ‘Cutie’ Benjamin emphasized the legislation’s critical role in aligning the nation with contemporary investment realities while reinforcing international regulatory standards.
The comprehensive amendments represent a significant overhaul of the original 2015 legislation, creating a more robust legal architecture for special economic zones. Benjamin articulated that the updated framework positions the dual-island nation to actively compete for foreign investment in an increasingly competitive global landscape. ‘This government, being proactive, examined the current geographical and economic context to cultivate an environment attractive to those seeking to establish operations within special economic zones,’ he stated during parliamentary proceedings.
A cornerstone of the new legislation is its strengthened emphasis on financial transparency and regulatory compliance. The amendments mandate strict adherence to international protocols against money laundering, terrorist financing, and proliferation financing. All entities operating within these zones will be subject to Antigua and Barbuda’s domestic laws concerning financial regulation, corporate transparency, and law enforcement oversight.
The revised framework introduces enhanced due diligence protocols requiring thorough verification of investor identities and fund sourcing. Benjamin stressed that these safeguards ensure the nation cannot be exploited for illicit financial activities. The legislation also formalizes licensing procedures, prohibiting zone operations until all regulatory conditions are fully satisfied, and establishes a structured approval mechanism for zone participants.
Beyond regulatory enhancements, the government highlights the zones’ potential to drive economic diversification, stimulate exports, generate employment opportunities, and attract foreign capital. Benjamin affirmed that the legislation maintains complete governmental oversight while creating a balanced system that promotes both investment attractiveness and international compliance.