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The Commonwealth of Dominica has quickly become a desired destination amongst property investors seeking a secluded and safe destination. The Residences at Secret Bay, one of the island's award-winning resorts, recently recorded its highest sale ever witnessed in the country. Secret Bay's villa, sold for US$7.1 million, boasts a dramatic cliff-top location with a view of the Caribbean Sea.
Secret Bay operates under Dominica's Citizenship by Investment (CBI) Programme
, enabling citizenship to those who invest in approved real estate on the island. The resort is popular amongst vacation home buyers as well as citizenship investors. The allure of Secret Bay has seen the property sell out its first phase, with the second reportedly nearly half sold. Aside from offering a route to second citizenship, the resort has a strong track record with a competitive exit strategy.
"This is a significant milestone for The Residences at Secret Bay, endorsing our vision and further validating The Residences as a premier investment opportunity both regionally and globally," said Gregor Nassief, proprietor and CEO of Secret Bay.
As cases pick up globally and variant strains rise, many are eager to avoid a repeat of last year which saw families across the globe without a safety net and thus now acknowledge the necessity of having a Plan B. American investors, in particular, have long shown interest in the property, with Secret Bay recording a 66 percent increase in inquiries last year from the region.
"The events of 2020 have further bolstered demand for citizenship by investment, as CBI buyers seek a desire for personal freedom and a sound investment," Nassief added.
Secret Bay is one of various globally renowned properties
open to investment in Dominica. Known as the 'Nature Isle of the Caribbean', Dominica has seen an influx of international hoteliers setting up shop on the island in recent years attracted by its abundant natural environment and sustainable ethos, ensuring all developments abide by a strict code. Notably, this includes famous brands like Marriott, Hilton, and Kempsinki – all of which operate under the island's CBI Programme.
Those who invest in CBI gain second citizenship and visa-free or visa-on-arrival entry to over 140 destinations. Other benefits include alternative business prospects in a stable democracy and the ability to pass citizenship down for generations to come. Dominica's currency is also pegged to the US dollar, providing economic stability to business-minded individuals.
Applicants also can rest assured that Dominica's CBI Programme is a trusted product with nearly three decades of experience in the investment migration realm. It has been recognized as the best route to second citizenship for the last four years by the annual CBI Index
. The independent study, conducted by experts at the Financial Times' PWM, especially noted the program's affordability, due diligence, and efficiency as some of the reasons for its high ranking.
Source: CS Global Partners