分类： politics

In a significant legislative development for Antigua and Barbuda’s lucrative Citizenship by Investment (CIP) programme, the nation’s House of Representatives has approved the 2026 Citizenship by Investment (Amendment) Bill, with cross-party support from senior lawmakers emphasizing the urgent need for strengthened oversight amid rising international pressure.

Trevor Walker, the Member of Parliament for Barbuda, emerged as a key backer of the reforms, framing the updated regulations as a critical safeguard for the country’s largest source of non-tax revenue. Walker told parliamentary deliberations on Tuesday that the CIP programme, which he estimates injects more than $100 million into the national budget annually, is the backbone of Antigua and Barbuda’s public finances, but its long-term survival depends on addressing growing global scrutiny through enhanced transparency and accountability.

Warning that the programme faces mounting geopolitical challenges that threaten its future, Walker argued that preserving its credibility must be a top policy priority for the government. He specifically welcomed the reinstatement of mandatory annual audits, a provision that was controversially repealed back in 2016. The new legislation not only brings back routine audit requirements, it also adds new rules mandating formal responses to audit findings, authorizes special targeted audits, and expands mandatory reporting obligations for CIP administrators.

Walker went a step further, urging the government to fully reinstate the detailed semi-annual reporting requirements outlined in the original 2013 CIP enabling legislation. He noted that while reports are still submitted to parliament currently, they lack the granular detail about contributions, investment flows and programme activity that the original law required, a gap that creates unnecessary room for suspicion among both domestic citizens and international partners.

The call for tighter rules comes as Antigua and Barbuda has faced increasing scrutiny of its investment migration scheme from both the European Union and the United States. Walker acknowledged that decades of cutthroat competition between Caribbean CIP jurisdictions had previously pushed many countries to relax regulatory standards to attract more applicants, but he highlighted that the Eastern Caribbean region is now unified in moving toward harmonized, stricter rules. He stressed that the fate of all regional programmes is interconnected: “When this boat sinks, we all go down with it,” he said, pointing out that any national programme’s failure to meet global standards could lead to restricted visa-free access for all Caribbean passport holders, eroding the value of citizenship across the bloc.

Walker also extended rare cross-party praise to Prime Minister Gaston Browne for his longstanding advocacy for a centralized regional regulatory body to oversee CIP programmes across the Organisation of Eastern Caribbean States (OECS), saying he hoped the new framework would deliver on the promise of stronger governance.

In his remarks opening the debate, Prime Minister Browne clarified that the core purpose of the amendment is to align Antigua and Barbuda’s domestic law with the agreement establishing the Eastern Caribbean Citizenship by Investment Regulatory Authority, which is set to come into force later this year. The new regional body will enforce uniform regulatory standards across all participating member states, limiting the ability of individual nations to deviate from collectively agreed rules that protect the integrity of all programmes.

Key provisions of the new bill include a requirement for annual independent financial audits and biannual operational audits of every national CIP unit, with the regional regulator tasked with ensuring compliance and protecting sensitive applicant data. The legislation also raises the minimum residency requirement for successful CIP applicants and their dependent family members from five days to 30 days, bringing Antigua and Barbuda into compliance with the regional standard already approved by all OECS members. Browne added that the amendments resolve any remaining inconsistencies between domestic law and the regional agreement, formalizing policy changes that have already been implemented through administrative action.

Other new rules require the national CIP Unit to submit detailed six-month progress reports to both the regional regulator and the national parliament, while granting the regional body expanded oversight authority. The authority will now manage pre-qualification of CIP agents, require formal no-objection notices before local operating licenses are issued, mandate adherence to regional standards and guidelines, and require the revocation of licenses when regulatory approval is denied or withdrawn. Browne emphasized that these changes are designed to block unethical and unqualified promoters from participating in the programme and ensure consistent regulatory standards across the Eastern Caribbean. Following full debate, the House of Representatives passed the bill into law.

On Tuesday, the lower legislative chamber of Antigua and Barbuda approved the 2026 Banking Amendment Bill, a landmark piece of legislation that overhauls the national rules governing abandoned bank deposits and unclaimed assets, while opening a new pathway to redirect stagnant financial resources toward targeted regional economic growth.

Introducing the bill to parliament, Prime Minister Gaston Browne laid out that the reform updates decades-old outdated protocols for handling unclaimed property within the domestic banking sector, covering everything from long-dormant customer accounts to forgotten valuables held in bank safety deposit boxes, all while cementing stronger legal protections for depositors and their rightful heirs.

Under the current regulatory framework that has been in place for years, abandoned funds are transferred to the Eastern Caribbean Central Bank (ECCB) after a decade of inactivity, and if no valid claim is filed within an additional 10 years, the assets are permanently forfeited. The new amended law upends this structure: it allows unclaimed funds to be transferred to the governments of member states of the Eastern Caribbean Currency Union, while enshrining an indefinite right for original depositors or their beneficiaries to reclaim full value of the assets at any point, as long as they can verify their legal ownership.

Browne emphasized to lawmakers that this structure offers far more robust protection for asset owners than the outgoing legislation, which placed a hard expiration on all claims. He added that across the entire Eastern Caribbean Currency Union, unclaimed deposits add up to an estimated $48 million US dollars – a massive underutilized asset pool that can be put to productive public use without ever compromising the rights of owners and their heirs.

Beyond the reform of unclaimed asset rules, the prime minister outlined an ambitious broader vision for regional economic transformation centered on the ECCB’s substantial foreign reserve holdings. Currently, the ECCB holds roughly $6 billion US dollars in foreign reserves, the vast majority of which are invested overseas. Browne is proposing that between 5 and 7 percent of these reserves be allocated to finance strategic regional development projects, with a priority focus on two critical areas: renewable energy development and regional food security.

For decades, the Eastern Caribbean dollar has been celebrated for its strong reserve backing, which currently sits close to 98 percent – far higher than the mandatory regulatory threshold. Browne argued that deploying a small fraction of these reserves to regional projects will generate inclusive economic growth without putting monetary stability at any meaningful risk. He noted that investments in local renewable energy infrastructure would cut the region’s heavy reliance on costly imported fossil fuels, bring down consumer electricity prices, further strengthen foreign reserve positions over time, and help member states meet their international climate change mitigation commitments.

Browne disclosed that the ECCB’s Monetary Council has already reached a preliminary consensus to move forward with the proposal, and noted that additional amendments to regional banking legislation will likely be required to formally grant the ECCB authority to make these strategic regional investments. He stressed that the plan does not involve permanently distributing central bank reserves; instead, the funds will be disbursed as repayable loans, which will replenish the reserve pool over time while financing projects that deliver long-term shared economic benefits for the region.

A core principle of the proposal, Browne added, is that all investments made through this initiative must remain under regional and local ownership, rather than falling under the control of foreign private entities. The Antigua and Barbuda government prioritizes strategic projects like utility-scale renewable energy plants that include significant public and local private investment, so that profits generated by these projects stay within the region to support further growth. “We believe very strongly that ownership is empowerment,” Browne stated.

To illustrate the immediate local impact of the unclaimed funds reform, Browne noted that Antigua and Barbuda alone holds roughly $38 million US dollars in unclaimed deposits. After setting aside a sufficient reserve portion to cover any potential future claims, the remaining balance can be redirected to national development projects, rather than sitting idle in overseas accounts.

The new legislation also establishes a clear regulatory framework for unclaimed contents of safety deposit boxes. Under the new rules, valuables that remain unclaimed for 10 years may be sold through public auction, with the proceeds held in a newly created Safe Deposit Box Liquidation Fund for an additional 10 years, giving owners or heirs extra time to come forward to claim the funds.

Addressing any potential concerns about government overreach, Browne clarified to lawmakers: “We’re not just trying to go and confiscate people’s money. We’re not trying to steal people’s money. We’re trying to use that money for the development of our respective countries.”

During parliamentary debate, Trevor Walker, the member of parliament for Barbuda, raised questions about the provision that reduces the waiting period before assets are classified as abandoned to 10 years, but expressed support for the overall direction of the legislation. Walker backed the government’s focus on renewable energy development, saying that the country must continue its transition toward affordable clean power while ensuring that major strategic investments stay under local control.

“We must control it. It must not be outsourced,” Walker said, adding that the proposal represents the kind of forward-thinking policy that can improve long-term economic and environmental sustainability while lowering living costs for ordinary citizens. Walker ultimately announced his support for the bill, calling it a bold initiative that will strengthen Antigua and Barbuda’s global reputation as a progressive investment destination and move the country beyond outdated, conventional approaches to economic development.

On Tuesday, Antigua and Barbuda’s House of Representatives passed the landmark Airport Administration Charge (Amendment) Bill, 2026, greenlighting a $10 incremental increase to airport administration fees for all passengers departing the country for destinations outside the Caribbean. Prime Minister Gaston Browne told lawmakers the adjustment is a core policy step designed to strengthen regional aviation systems, upgrade critical airport infrastructure, and deliver consistent, reliable funding to key regional governing institutions. The fee hike forms a central component of a broader collective agreement reached between leaders of the Organisation of Eastern Caribbean States (OECS) and the Caribbean Community (CARICOM), which aims to build a more predictable, sustainable financing framework for shared regional bodies, Browne explained. For years, member states across both blocs have accumulated tens of millions of dollars in unpaid institutional contributions, with Antigua and Barbuda itself carrying decades of outstanding arrears. Browne pushed for a shift toward automatic, consistent contribution payments, noting the new revenue stream will directly address the persistent funding gaps that have hampered regional institutions’ operations. Of the $10 in additional revenue generated per eligible passenger, $2.50 will be allocated directly to the Eastern Caribbean Civil Aviation Authority (ECCAA). This funding is critical to Antigua and Barbuda’s ongoing push to regain Category 1 aviation safety status from the U.S. Federal Aviation Administration (FAA), a designation that would open new travel opportunities for regional carriers. Restoring Category 1 status is a non-negotiable prerequisite for regional airlines including LIAT to operate direct routes to U.S. destinations, spanning the U.S. Virgin Islands, Puerto Rico, and the U.S. mainland, Browne stressed. “Many residents of the U.S. Virgin Islands have already requested direct air connections between the territory and Antigua and Barbuda, as well as other OECS member states,” Browne said. “But that goal is impossible to achieve until we restore our Category 1 safety status.” The prime minister commended ECCAA Director Anthony Whitaker and his team for resolving the safety deficiencies that were flagged in past FAA reviews, and he expressed optimism that the authority will successfully regain the designation following a formal FAA assessment scheduled for later this year. Even if the assessment results are positive, however, Browne warned that long-term success depends on consistent, adequate financing for the regional aviation regulator. Currently, ECCAA’s existing headquarters in Antigua and Barbuda lacks the space to hire and accommodate the additional qualified staff required to maintain Category 1 standards. The guaranteed, steady revenue from the fee hike will deliver the financial stability the regulator needs to move forward with constructing a new purpose-built headquarters, he confirmed. Beyond supporting ECCAA and aviation safety upgrades, the new revenue will deliver broader benefits across the region and Antigua and Barbuda. Browne noted that the additional funds will allow the country to make more consistent, on-time contributions to OECS and CARICOM institutions, gradually reduce its longstanding arrears, fund national climate resilience projects, and ensure the country has sufficient resources for ongoing airport infrastructure maintenance. The government recently completed a $55 million project to repair and expand V.C. Bird International Airport, and the new revenue stream will protect that public investment through consistent, long-term maintenance, he added. In a key clarification, Browne emphasized that the fee adjustment will not impact passengers traveling within the Caribbean. No increase will apply to regional air travel originating or ending within the bloc; the full $10 hike only applies to passengers traveling to destinations outside the Caribbean from Antigua and Barbuda. “This does not affect regional travelers at all – there is zero increase to the regional airport charge,” Browne told assembled legislators. “This fee only applies to people traveling externally from Antigua and Barbuda, outside of the Caribbean region.”

In a development that has advanced a high-profile murder case in the Caribbean legal system, Jahciba Shoy has walked free on bail this week, days after a High Court judge threw out the murder charge against him — but prosecutors have already moved to challenge that ruling, leaving the final outcome of the case uncertain.

Shoy’s release was finalized on Tuesday, when High Court justices granted his bail application with a $10,000 surety requirement, structured to allow two independent guarantors to back the bond without an upfront cash deposit. The temporary release comes after a weeks-long period of continued custody that followed the initial dismissal of the charge: last week, the trial judge sided with the defense’s argument that the prosecution had failed to present sufficient evidence to support a conviction, but prosecutors immediately filed an official notice of appeal, which kept Shoy in detention while his bail request was processed.

The core of the defense’s case, presented by lead defense attorney Wendel Alexander, was a no-case submission that argued the entire prosecution case rested on nothing more than unfounded suspicion and unproven conjecture. Alexander maintained that no evidence presented by the prosecution met the legal standard required to sustain a murder conviction, and the trial judge agreed. In the official ruling, the judge found that the Crown, the prosecuting body in the case, had failed to establish a prima facie case that Shoy needed to answer in court, justifying the full dismissal of the murder charge.

Shoy was initially charged in connection with a fatal shooting that shook the local community in May 2023. The incident took place at the Pick ’n Mix Mart located on DeSouza Road, during an armed robbery that left 25-year-old Roudi Shmaly, a Syrian national residing in the area, dead.

Now, the legal process will move to the Court of Appeal, where justices will review the High Court’s ruling to determine whether the dismissal of the murder charge was legally sound. The appellate court will ultimately decide whether to uphold the original dismissal or order new trial proceedings against Shoy.