LONDON, Jan. 13, 2021 /PRNewswire/ --The Residences at Secret Bay, a luxury resort in the Commonwealth of Dominica, has reported that 27 percent of its Citizenship by Investment (CBI) contracts came from African nationals. Industry experts forecast the number to rise to 35 percent in 2021 as Nigeria, the continent's fastest-growing market, continues to seek second citizenship.
Investments worth at least USD 200,000 into pre-approved real estate like Secret Bay is a popular option for applicants under the Dominican Citizenship by Investment Programme. This route is highly attractive to African buyers who not only get visa-free travel access to over 140 destinations worldwide, but their ownership of estate elsewhere can result in a place to escape with family in times of turmoil.
"We've seen immense interest from the African market this year, particularly from buyers who want future mobility," says Gregor Nassief, the proprietor of Secret Bay. "In addition to being granted citizenship, our buyers are investing in Dominica's only Citizenship by Investment opportunity with completed villas, proven financial performance and a competitive exit strategy with a robust market for resale, so they have great confidence in their investment."
Dominica's Prime Minister, Roosevelt Skerrit and Ambassador Emmanuel Nanthan, Head of Dominica's Citizenship by Investment Unit have also praised the Programme and its appeal to Nigerians. "We've seen an increased positive interest coming from Africa and in particular Nigeria," said Prime Minister Skerrit. "…There are shared cultural circumstances between ourselves and Africa."
Ambassador Nanthan also recently said that "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."
Dominica's CBI Programme is hailed as the world's best offering for economic citizenship in the last four CBI Index reports. Experts at the Financial Times' PWM magazine cite affordability, certified vetting standards and efficiency as key reasons for Dominica's leadership in the investor immigration industry. The processing of eligible applicants takes three months or less, provided all due diligence checks and other requirements are successfully completed.
Register here to see PM Skerrit and Ambassador Nanthan explain the Programme for Nigerians on Jan 15th.