Secret Bay of Dominica Experienced An Increase In Demand For Second Citizenship From African Families In 2020/
The six-star Secret Bay Resort in Dominica, despite the pandemic, continued to conduct safe transactions with investors to obtain citizenship by investment. What's particularly interesting is that 27% of deals were made with investors from Africa. Since Nigeria is the fastest growing market in Africa, this number is expected to grow to 35% of the number of applicants for second citizenship in 2021.
There are several options for obtaining second citizenship: donating to a foundation or buying approved real estate such as The Residences at Secret Bay. It is the second option that is becoming more and more popular among investors.
First, as we noted earlier, investors and their families can obtain a second passport.
Secondly, it becomes possible to own a share of elite real estate, and this is at least a good investment.
“With CBI programmes, like that of Dominica, offering visa-free or visa-on-arrival access to 140 countries, Africans now have access to the luxury of a Golden Passport or Plan B. Additionally, a CBI investment in Dominica is incredibly stable: Dominica’s currency is pegged to the US Dollar, and has been for the past 50 years. Dominica is also rapidly expanding its consulate service presence worldwide with its most recent consulate in Abu Dhabi, and consulate offices being considered for Nigeria, Kenya and South Africa to meet its citizens’ needs." - write nairametrics.
Dominica's CBI program was recently recognized by the Financial Times as the "Best Country for Second Citizenship" in the world for the fourth consecutive year and has been praised by both the Prime Minister and the Dominica Finance Minister, The Honorable Dr. Roosevelt Skerritt, and Ambassador Emmanuel Nathan, Head of CBI Unit in Dominica.
“We’ve seen an increased positive interest coming from Africa and in particular Nigeria,” said Dominica Prime Minister Roosevelt Skerrit. “...there are shared cultural circumstances between ourselves and Africa.”
Ambassador Emmanuel Nantan, Head of Dominica Citizenship by Investment Unit, recently said: “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."