As Secret Bay, Dominica’s award-winning, crown jewel, only six-star resort, commemorates its 10th anniversary since first opening, its globally-recognized Citizenship by Investment (CBI) project, The Residences at Secret Bay, celebrates its own major milestone: paying out its 100th ROI payment to its more than 50 CBI owners from around the globe, nearly a third of whom hail from Africa. First launched in 2019, The Residences at Secret Bay is the only-of-its-kind CBI offering that is committed to selling built product, and is respected for having the highest of standards and being the most compliant CBI programme in the Caribbean.
“This is the most compliant CBI programme you’ll find and integrity is at the center of our operation,” said Gregor Nassief, proprietor of Secret Bay and The Residences at Secret Bay, and Chairman and CEO of GEMS Holdings Limited. “As the world navigates certain challenges, The Residences and Dominica’s CBI offering give Nigerians a stable investment opportunity they can trust.”
The Residences has completely sold out Phase 1 of the development and is nearing sellout of Phase 2, in large part from a spike of interest from Africa, and in particular, Nigeria, as reported by Dominica’s Prime Minister, Roosevelt Skerrit earlier this year. In a recent webinar, when asked about The Residences at Secret Bay, Prime Minister Skerrit said, “[Secret Bay] will enhance the integrity of our [CBI] program. [Gregor Nassief’s] project is centered around the protection and the conservation of the environment. I would say to anyone who is listening to me that investing in Secret Bay, you can be assured of your investment. You can be assured of a return on your investment. It is a project that cannot be compared to any other in the Caribbean.”
For the fifth consecutive year, Dominica earned the title of the “World’s Best Country for Second Citizenship” by Professional Wealth Management magazine — a publication from the respected Financial Times, distinguishing itself as a leader in CBI programmes across the globe. The rigorous and systematic assessment looks at nine pillars — Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family and Certainty of Product — of which Dominica scored a total of 80 points, the most of any CBI opportunity.
The Residences buyers, who span the globe — from across Africa, the Middle East, Asia and North America — are not only obtaining second citizenship and receiving ROI cheques, but also investing in the gold standard of CBI programmes and the only government-approved real estate project in Dominica offering purchase options to both vacation home buyers and citizenship investors.
“We’ve seen an increased positive interest coming from Africa and in particular Nigeria,” said Dominica’s Prime Minister, Roosevelt Skerrit. “…there are shared cultural circumstances between ourselves and Africa.”
Further, Ambassador Emmanuel Nanthan, Head of Dominica’s Citizenship by Investment Unit, recently said: “Dominica offers a unique opportunity to Nigerians where they can invest in a country that is very solid. Our Brothers and Sisters in Nigeria are beginning to understand the process, understand what is on offer, and they are taking advantage of that now. And we welcome them with open arms.”
With CBI programmes, like that of Dominica, offering visa-free or visa-on-arrival access to 140 countries, Africans now have access to the luxury of a Golden Passport or Plan B. Additionally, a CBI investment in Dominica is incredibly stable: Dominica’s currency is pegged to the US Dollar, and has been for the past 50 years. Dominica is also rapidly expanding its consulate service presence worldwide with its most recent consulate in Abu Dhabi, and consulate offices being considered for Nigeria, Kenya and South Africa to meet its citizens’ needs.
This year, Secret Bay is celebrating its 10th anniversary demonstrating its demand among international travelers and its operational success. Over the past decade, the acclaimed, Green Globe certified resort 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. And, Secret Bay was recently named one of Travel + Leisure’s top 500 hotels in the world, and last year was named the magazine’s #1 Resort Hotel in the Caribbean, Bermuda and the Bahamas and #6 Hotel in the World. The property is the first and only property in Dominica to be affiliated with the elite luxury brand, Relais & Châteaux. Secret Bay’s newest residences were recently showcased in global publications like the New York Post, Departures, Robb Report, Ocean Home Magazine and Wealth Magazine, among others, recognised not only for their impressive offering, but their most coveted amenity — second citizenship.
The Residences’ CBI offering is priced at US $208k/share. To learn more about Citizenship by Investment in The Residences at Secret Bay, visit: https://secretbay.dm/cbi/. For a consultation, please email residences@secretbay.dm.
