LONDON, May 28, 2021 /PRNewswire/ — According to a recent report, investors are choosing to focus on finding secluded destinations that have efficiently tackled the spread of the coronavirus. The Knight Frank’s Prime Global Forecast 2021 report highlights that the real estate market, which took a hit during the pandemic, is anticipated to bounce back with new trends. This will include an emphasis on green and ethical investing.
The Commonwealth of Dominica is one such destination that is witnessing growing interest amongst investors from the Middle East, Asia and Africa. Its real estate market has witnessed growth in recent years due to the number of internationally renowned hoteliers flocking to the island. From Marriott to Hilton to Kempinski, Dominica has become a burgeoning market for luxury real estate that still prioritises the environment, a vital component for the island’s growing eco-tourism sector.
The island is also one of the few nations to manage the community spread of COVID-19 and has recorded zero deaths since the onset of the pandemic. Its response to the virus was praised by the United Kingdom’s Development Director in the Caribbean, who said the island did a “superb job” in containing COVID-19.
Dominica also presents the unique opportunity to acquire citizenship with the purchase of selected real estate options. Under its Citizenship by Investment Programme, investors and their families can become citizens of the island once investing a minimum of $200,000 through its real estate arm. The option helps applicants diversify their assets, enabling them to build their wealth portfolio while also providing a second home for them and their families. After holding the property for three or five years, the investor can sell and obtain a return on their investment.
“There are now eight approved projects under the real estate arm of the Dominica Citizenship by Investment Programme, all of which are tourism developments. Thanks to such investments in real estate, Dominica is becoming a destination for luxury tourism, with a number of major hotel brands having now settled in Dominica. Applicants also have the option of investing in luxury villas that are part of larger resorts, such as The Residences at Secret Bay, an award-winning development devised and constructed with the hard work of local citizens and residents,” says Ambassador Emmanuel Nanthan, Head of Dominica’s Citizenship by Investment Unit.
Once gaining receipt of citizenship, investors gain access to visa-free or visa-on-arrival entry to over 140 countries and territories, the right to live, work and study in Dominica and the invaluable ability to pass citizenship down through descent.