Developers of Secret Bay disclosed last Friday that they have issued the first return on investment (ROI) cheques to people who obtained Citizenship by Investment (CBI) from Dominica through The Residences at Secret Bay.
“The initial investors who purchased shares in The Residences at Secret Bay as a qualifying investment for citizenship have now been presented with their first return on investment checks and are on track to receive their next quarterly returns to be presented on May 15, 2020,” GEMS Holdings CEO Gregor Nassief stated in a release.
Now under expansion, Secret Bay has now sold shares in 50 per cent of its built villas.The developers aim to complete another five Hillside Ti-Fèy Villas by November 2020 for sale to other investors.
“By continuously offering completed villas, buyers have the opportunity to invest in an already-operating product that yields immediate returns,” Nassief explained.
He indicated that while Asian, African and Middle Eastern investors have been expressing interest in Secret Bay, the luxury resort is now attracting the curiosity of American investors.
Dominica’s CBI Programme provides investors with the opportunity to obtain second citizenship by contributing to the island’s economy. Investors can either make a one-off contribution to the Economic Diversification Fund (EDF) or invest in pre-approved real estate, such as the Residences at Secret Bay or other luxury resorts.
Applicants must initially meet all the due diligence requirements to address security concerns raised by Dominica’s Government. After three months, the successful, new economic citizens and their dependents earn the right to live, work and study in Dominica.