Update: Dominica Named Best CBI Programme as Caribbean’s Best Resort Prepares to Launch Sales for Phase 2
Second citizenship is proving to be this year’s most coveted currency and Dominica, the Caribbean’s “Nature Island,” continues to be a leader in Citizenship by Investment programmes. For the fourth consecutive year, the Caribbean island ranked first in the CBI Index, earning the title of the World’s Best Country for Second Citizenship by Professional Wealth Management magazine — a publication from the respected Financial Times and the most prestigious resource cataloging all active CBI programmes across the globe.
With this, The Residences at Secret Bay, Dominica’s crown jewel development and only six-star all-villa resort that is praised by top-tier media around the world and global travellers alike as the best resort in the Caribbean, is now closing out Phase 1 sales as it completes Phase 2 construction of four new Hillside Ti-Fèy Villas, remaining true to its commitment to offering new investors buy-in of a ready villa. The new villas are scheduled to enter sales and resort operations this November with a fifth by early 2021.
“The Residences at Secret Bay is the only-of-its-kind and best in class CBI opportunity, which was further validated by the recent Financial Times accolade,” said Gregor Nassief, proprietor of Secret Bay and Chairman and CEO of GEMS Holdings Limited. “Given the current social, economic and political climates, savvy real estate investors are looking for exactly what The Residences offers — completed product, a path to dual citizenship and a “Plan B” — and that’s what’s appealing to buyers from Asia, North Africa, the Middle East and the United States especially.”
Also driving demand is Dominica’s approach to families; while many CBI opportunities exclude extended family members, Dominica recently introduced a groundbreaking policy to support CBI families by allowing dependant relatives of both the main applicant and spouse to be included on a single application, identifying that family reunification through CBI is especially important in light of the ongoing uncertainty caused by the global pandemic.
Dominica is recognized as among the top 15 COVID-19 recovering countries in the world and reopened its borders to international travellers on August 7 with clear and effective entry protocols. In addition to the modernization of the country’s main hospitals, construction is underway on the New Marigot Hospital Project, fully funded by CBI, which will add capacity of 75 beds, and will provide important medical services including emergency care, intensive care (ICU), laboratory and radiology services and a trauma centre, among others. CBI funds have also contributed to the construction of polyclinics in 14 communities and the restoration of six health centres, thereby expanding the island’s healthcare infrastructure.
Secret Bay is an awarding-winning Green Globe certified resort and residences, which was recently named the #1 Resort Hotel in the Caribbean, Bermuda and the Bahamas and #6 Hotel in the World in Travel + Leisure’s 2020 World’s Best Awards, and has been consistently recognised for its exceptional design, service and experience by such global travel and lifestyle publications as Architectural Digest, CNN, Fortune, National Geographic, Outside, the cover of Travel + Leisure, and The Telegraph.
The Residences at Secret Bay is the only government-approved real estate project in Dominica offering purchase options to both vacation home buyers and citizenship investors. With strong demand for ownership by vacation home buyers, The Residences at Secret Bay grants citizenship investors unmatched access to the vacation home market for resale.