Dominica’s Citizenship-by-Investment-funded Secret Bay Resort is expanding
The Commonwealth of Dominica’s Secret Bay Resort has recently announced that it will be adding four new, two-story villas to its existing portfolio, bringing its number of villas to 10. The villas will feature floor-to-ceiling glass walls, private plunge pools and outdoor rain showers, among other details that the eco-resort masters. Secret Bay also revealed that it is now accepting reservations on the new villas for November.
Secret Bay is internationally recognized by several publications and was recently named the best resort in the Caribbean, Bermuda and the Bahamas by the prestigious Travel + Leisure magazine. It is also the only property on the island to receive the Green Globe certification for its sustainable practices. Secret Bay operates under Dominica’s Citizenship by Investment (CBI) Program and is one of seven properties that applicants can invest in to gain second citizenship.
During CS Global Partners’ Plan B podcast, Gregor Nassief, the proprietor of Secret Bay expanded on how the CBI Program supports the resort. “Dominica’s CBI program has enabled us to expand the shared ownership structure, and investment is used to expand Secret Bay. Likewise, non-citizenship investors are also investing at Secret Bay which again provides a more flexible exit strategy for both citizenship and non-citizenship owners at Secret Bay,” he said.
Established in 1993, Dominica’s CBI Program enables foreign investors to acquire the nation’s citizenship once making a donation to the government fund or investing in pre-approved real estate. Successful applicants that pass the necessary due diligence requirements can access a wealth of benefits, including increased global mobility to approximately 140 nations and enhanced business opportunities. The country then uses the generated revenue to channel into national development projects in areas like tourism, education, healthcare and climate change research.
For the fourth consecutive year, Dominica has been ranked as the best country for second citizenship by an annual independent study – the CBI Index. Specialists and experts conduct the report at the Financial Times’ Professional Wealth Management magazine. According to the 2020 CBI Index, Dominica received top scores for its due diligence, affordability, ease of processing and its family reunification regulations.