Prime Minister of Saint Vincent and the Grenadines: the CBI program will be insulated from political influence

Prime Minister of Saint Vincent and the Grenadines Godwin Friday said that the planned Citizenship by Investment (CBI) program this year will operate independently of ministers and political leadership. He stressed that it is not a “political tool,” but a tightly regulated mechanism for attracting financing, as he discussed on The Bubb Report with Grenadian journalist Kellon Babb.

Saint Vincent and the Grenadines remains the last independent OECS member state (OECS) where a CBI program has not yet been launched. In the November 2025 elections, the previously governing Unity Labour Party stepped aside for Friday’s New Democratic Party (NDP), and launching the CBI was a key pledge of the election campaign. The Prime Minister’s remarks build on an approach his deputy outlined in December.

CBI as a “firewall,” not a way to “make quick money”

According to Friday, there must be a “distance” between running the program and the political wing. He ruled out ministers’ involvement and any interference from political leadership. The Prime Minister also highlighted transparency of funding flows: voters should be able to see how much money is coming in and where it is being directed. Parliamentary accountability for both inflows and spending is, he said, mandatory.

Friday also clarified that the CBI program is not “an economy”, but a financing mechanism. He outlined four “pillars” to support development: agriculture, tourism, a “new economy” built on information and communication technologies, and the blue economy—from fisheries and marine services to shipyards and yachting. Under his plan, CBI funds should back these sectors and help service debt, rather than replace production, jobs, and exports.

Debt at roughly 113% of GDP and limited room for maneuver

Friday linked the decision to launch CBI to constrained fiscal capacity and a regional capital deficit. He noted that Saint Vincent and the Grenadines’ debt is estimated at about 113% of GDP and continues to rise.

These figures align with the IMF findings in the 2026 Article IV report. The document states that debt in 2025 was around 113% of GDP and—if current policies remain—could reach 145% by 2031.

The Prime Minister promised to return to the fiscal anchor of the Eastern Caribbean Central Bank (ECCB)—60% of GDP. At the end of 2025, the union-wide figure was close to 79%, and the ECCB expects to reach 60% by 2035.

CBI is being treated only as one tool within a broader strategy. Friday placed it alongside debt swaps, the possible write-down of part of obligations, concessional loans, foreign direct investment, and efforts to invigorate the domestic private sector.

Last in the OECS, but “no rush to harm competitors”

That Saint Vincent and the Grenadines is the last OECS country considering CBI, Friday called an advantage: the country can study what worked and what did not in other jurisdictions before finalizing its own rules.

He supported the idea of common regional standards and suggested an ECCB role in monitoring, so that neighboring states’ programs do not “undermine” one another. Even if a fully harmonized framework is not yet ready, the Prime Minister said Saint Vincent will pursue this objective. The aim is to avoid a “race to the bottom” on price, while ensuring strong due diligence and transparency.

Due diligence and the country’s “good name”

Friday repeatedly returned to the topic of proper due diligence, linking it to the country’s reputation and the value of its passport. He emphasized that a program capable of damaging the country’s image would be counterproductive. In his view, the government will not engage promoters or applicants whose intentions conflict with long-term development.

He also noted that CBI should not become a “quick enrichment” scheme, especially for people tied to politics.

Context: US and EU pressure on citizenship by investment programs

The CBI launch plan is being shaped amid external pressure on Caribbean citizenship by investment programs overall. In January, the United States paused the processing of immigration visas for 75 countries, including Saint Vincent and the Grenadines—even though at that time the country had no active CBI program. In a December report, the European Union considered citizenship programs as a basis for suspending visas and urged states in the region to move toward ending such programs.

Friday’s “firewall,” in practice, will be tested only after the program begins. Saint Vincent targets a CBI launch in mid-2026. Revenues are planned to be routed through an Investment Fund protected by law (with a “legally separate” ring-fenced structure), and applicants will be required to meet residency conditions. At the same time, the document that will formalize these commitments into enforceable regulations has not yet been published.

If you’re considering citizenship by investment (CBI) to strengthen your legal and financial stability, it’s crucial to look beyond the headline requirements and focus on program governance, transparency, and institutional safeguards. At Digital Nomad, we help you compare current options and choose the best path for your goals—from initial eligibility checks to application preparation. Learn more: https://digital-nomad.gr/en/goldenvisa

Our Telegram channel about various types of Greek residence permits, digital nomad programs, and the Greek Golden Visa: @digitalnomadgr