The Residences at Secret Bay, Dominica’s crown jewel development and only six-star, all-villa resort, has recently published its statement of compliance for its citizens in accordance to Dominica’s Citizenship By Investment (CBI) laws via the real estate path to second citizenship.
The compliance statement, which outlines the policy and purpose of The Residences at Secret Bay, was issued to ensure full compliance with the highest principles of professional conduct to the related laws, regulations, and policies that govern the industry. This includes adhering to legislation as established by the Commonwealth of Dominica, and the policy statements that Dominica’s Citizenship by Investment Unit issued as of October 11th, 2018 and January 24, 2022.
According to the statement, among other things, the Dominican CBI’s laws governing the real estate option require the following:
• That the price paid for real estate meets the minimum threshold of $200,000.
• That this minimum payment is paid in full to an authorized account.
• That the purchaser has encumbered title/ownership to the real estate being purchased.
• That the real estate must be held for a minimum of five years before it can be resold and eligible for use in another Citizenship by Investment application.
“We are today publishing our Compliance Statement as we want to make it absolutely clear that we do not want to be associated with any practices that are contrary to CBI regulations, such as what is commonly referred to as “Special Offers’ or Special Discounts” said Gregor Nassief, proprietor of Secret Bay, and the Residences at Secret Bay, and CEO of GEMS Holdings Limited.
“This is contrary to the law and those involved in such must cease and desist immediately”, Gregor added.
While commenting on integrity of The Residences at Secret Bay, Dominica’s Prime Minister and Minister for Finance, Honourable Dr. Roosevelt Skerrit said that “when investing in Secret Bay, you can be assured of your investment. You can be assured of your return on investment.”
He further explains that the Secret Bay project is one that cannot be compared to any other in the Carribean, and continues to immensely strengthen the integrity of the Commonwealth of Dominica’s CBI Program. The Residences at Secret Bay will routinely monitor the consistent applicable laws and regulations regarding Dominica’s Citizenship by Investment programme as well as its operations.
Click here to read full compliance statement for the Residents at Secret Bay Resort.
The compliance statement follows the Residences’ announcement that it had given out
US$1 million to more than 100 owners of citizenship by investment from all around the world. The renowned CBI project, part of the award-winning resort Secret Bay, recently released year-on-year results for the fourth quarter of 2019 through the second quarter of 2022 and has exceeded the ROI forecasts by over 40% during these times.
For the sixth consecutive year, Dominica earned the title of the “World’s Best Country for Second Citizenship” by Professional Wealth Magazine – a publication from the reputable Financial Times, distinguishing itself as a leader in CBI programmes across the globe.
With its commitment to selling built product, paying out positive returns, offering a competitive exit strategy on the vacation home market, while providing a hedge against currency instability, The Residences at Secret Bay continually presents the nation’s most coveted, successful and beneficial opportunity to achieve second citizenship. Whether for the luxury of visa-free or visa-on-arrival access to 140 countries, capital gain or the security of a backup plan, savvy CBI investors know the value of investing in a high-performing real estate project under an established program that allows individuals or families to obtain citizenship.
The acclaimed gold standard resort has also been consistently recognized for its exceptional service, experience and design by different global travel and lifestyle publications including CNN, Digest, Fortune, National Geographic, Outside, the cover of Travel + Leisure, and The Telegraph. This year, for the second time in three years, Secret Bay was named one of Travel Leisure’s top 500 hotels in the world and the #1 resort Hotel in the Carribean, Bermuda and the Bahamas. Additionally, the Secret Bay Resort property is the first and only property in Dominica to be affiliated with the elite luxury brand, Chateaux.
The Residences’ CBI offering is priced at US$208k for fractional ownership and from
US$1.5 million for whole ownership. To learn more about Citizenship by Investment in The Residences at Secret Bay, visit: https://csglobalpartners.com/citizenship-investment/.
For a consultation, please email: [email protected] or call +44 (0) 20 7318 4343.