LONDON,– Investors looking to obtain the citizenship of Dominica now have another option available: a share in newly built real estate The Residences at renowned eco-luxury Secret Bay Resort. Comprising 42 five-star villas hidden across a 33-acre green clifftop, The Residences offers foreign investors the chance to own a tropical-modern vacation home or become economic citizens of this Commonwealth member state. They can also expect to receive a return on their investment thanks to Secret Bay already being a succsessful opperational resort with a strong occupancy and rental track record.
The Dominican developer, voted as the World’s Best Boutique Hotels in 2016’s World Boutique Hotel Awards, takes pride in building sustainably, as it designed the The Residences site with an environmentally conscious mindset. It did so by using an award-winning ‘low-density, phased development plan’. The small Caribbean island continues to win over investors across the globe thanks to its sustainable ethos, after Prime Minister Roosevelt Skerrit pledged to make it ‘the world’s first climate resilient nation’. 2018 was marked by Dominica’s burgeoning economic development, accompanied by a series of green initiatives that made international press headlines, such as the comprehensive single-use plastic ban or the construction of a geothermal plant, also funded by the Citizenship by Investment (CBI) Programme.
With a number of villas already fully completed, share prices for The Residences start at USD 218,000 which meets the minimum threshold of USD 200,000 to become eligible under Dominica’s world-leading CBI Programme. The alternative route to real estate investment is a contribution to the Economic Diversification Fund, which then sponsors important socio-economic initiatives in Dominica. In August last year, experts at the Financial Times ranked Dominica as the best country for second citizenship through investment, with due diligence, amongst other factors, hailed as second to none. As Dominica’s Prime Minister signed the agreement with Secret Bay last week, he notably commented on The Residences: “We will see one of the best, if not the best, resort in the Western Hemisphere here in Dominica.”
Secret Bay also made a unique announcement this week that it is now offering taster packages to those interesting in investing under the CBI Programme. The Residences Discovery is a 360 two-night experience that allows citizenship hopefuls and agents alike to inspect the site, along with its amenities and natural surroundings.