January 28, 2022
Investors across the globe — spanning the Middle East, North Africa, Asia, and North America — who bought into Secret Bay’s vacation homeownership offering through Dominica’s gold standard Citizenship by Investment (CBI) Programme, are reaping generous rewards including receiving ROI cheques.
Located in the Caribbean nation of Dominica, Secret Bay’s sought-after CBI offering has seen a sharp spike in applications for its government-approved real estate project. The boutique resort offers vacation home buyers and citizenship investors purchase options.
Marking an entirely new era of vacation homeownership, the six-star, award-winning all-villa resort has long been praised for its artful fusion of high design, local craftsmanship and authentic guest experiences, each custom curated to shape the perfect stay.
The 100th ROI payment to more than 50 CBI owners from around the world, and the record-breaking sale of the off-plan Clifftop Villa Estate compound for US$7.1 million to a non-CBI investor, is a demonstration of an interest in and the value of the offering that transcends the traditional CBI markets, making Secret Bay even more lucrative to foreign investors.
“Secret Bay is truly the epitome of island luxury. Over the past decade, the resort has been consistently recognised for exceptional design, service, and experience, and we continue to see rapid momentum from CBI investors who see value in an already built product with a strong track record and competitive exit strategy,” said Gregor Nassief, owner and proprietor at Secret Bay. Nassief was also named ‘Caribbean Hotelier of the Year’ by the Caribbean Journal.
Dominica has also been crowned as one of the safest places in the Caribbean and Latin America, according to the recently published World Citizenship Report (WCR) – which takes into account data from the Global Peace Index (GPI) 2021 and World Governance Indicators (WGI). The report ranked the Nature Isle third in the region with a score of 77.3, making it the 33rd safest place in the international arena.
Dominica’s CBI Programme was established in 1993. Multiple authorities and agencies vet individuals and their families before they become citizens of the nation either by investing in a government fund or purchasing pre-approved real estate properties like Secret Bay. The Programme is one of the longest-standing options on the market and continues to be ranked as the world’s best by the annual CBI Index report conducted by experts at the Financial Times’ PWM magazine.
Dominica has been on a concerted drive to expand its diplomatic footprint globally and its CBI programme facilitates ease of global mobility – an aspect that is of relevance to those seeking additional citizenship either through traditional routes or through CBI.
The WCR further highlights that High-Net-Worth Individuals (HNWI) view having a second citizenship as a valuable asset to enhance their quality of life while ensuring a bright future for themselves and their families.
Furthermore, they regard it as a powerful tool to diversify their wealth and assets. Therefore, as contemporary global trends have abruptly caused the world to become less mobile, wealthy individuals have started to further consider CBI to secure a ‘bolt hole’ in the prospect that issues arise, and to alleviate safety concerns.
Revenue from the Programme is allocated to the island’s national development projects like a new international airport, climate-resilient housing units, road improvements, hospitals, and a geothermal energy plant.
Potential investors will also be pleased to know that it’s easier than ever to travel directly to Dominica from the United States. The island country has also been in talks with other airlines to expand direct flights into the country – meaning tourists can visit the island without lengthy layovers.
“We are aggressively pursuing various methods to ensure that people can come to Dominica on the same day they depart from their country; it is very critical for our destination, so far discussions have advanced positively,” said Denise Charles, Tourism Minister of Dominica.