Extending the property investment options for Dominica’s world-leading Citizenship by Investment Programme to eight, the nation’s Government approves brand-new real estate development, Timbo’s Downtown, a boutique resort that’s anticipated to become a hotspot for business lodgings and luxury leisure in Dominica.
The approval of this new real estate development option, Timbo’s Downtown, under Dominica’s Citizenship by Investment (CBI) Programme by the Government of the Commonwealth of Dominica brings the total number of properties that foreigners can invest in as part of its CBI Programme to eight.
The second property to be developed under the chic Timbo brand on the island, Timbo’s Downtown – Timbo’s Seaside is a luxury boutique hotel in the city of Roseau that is set to become a contemporary and luxury destination for both business and leisure. It follows its sister hotel, Timbo’s Apartello, which offers six executive suites that operated at an occupancy rate of 90% until Covid.
Investors are required to invest a minimum of US200,000 in Timbo’s Downtown in order to secure citizenship for themselves and their family.
Timbo’s Downtown joins seven other CBI investable properties including renowned brands from Marriott, Hilton and Kempinski, as well as other unique boutique resorts like the award-winning Secret Bay and Eco Villas Jungle Bay.
Dominica’s real estate sector has been pivotal to bolstering eco-tourism on the island, attracting investors and holidaymakers alike, with many of the investment properties on offer eco-friendly and ensconced in nature.
Among these is the five-star Cabrits Resort & Spa Kempinski Dominica. Located along the picturesque white sand beach on Douglas Bay and surrounded by Cabrits National Park, this eco-friendly resort, which has been designed to be at one with nature, recently secured an award as the Best New MICE Hotel 2020 in the inaugural World MICE Awards.
Then there’s the five-star, eco-sensitive Tranquility Beach Resort, part of the Hilton Curio Collection. With its cliff-handing villas, secret beaches and wellness centre, this 73-villa resort is under construction and scheduled for completion by the beginning of 2022.
And let’s not forget the award-winning resorts of Secret Bay and Jungle Bay. The eco-luxury Jungle Bay Resort boasts 40 completed eco villas and 60 more in development (phase 2 and set to be completed by the start of 2021), with the Sea View Villa priced at US$255,000, the minimum investment threshold under Dominica’s CIP. Finally, the six-star all-villa Secret Bay resort, recently named the Number One Resort in the Caribbean and Number Six Resort in the World by Travel + Leisure’s 2020 World’s Best Awards, offers villas priced between US$1.5 million and US$4 million across four phases of development with two phases yet set to complete. It delivers a dramatic setting overlooking the Caribbean sea, two secluded and swimmable beaches and private villas with plunge pools.
As much of the world continues to battle the coronavirus pandemic, Caribbean real estate has seen a surge in interest, particularly from Americans investors hoping to secure a Plan B should one be needed.
“Dominica has such a diverse real estate offering ranging from internationally branded hotels and eco-resorts,” says Paul Singh, Director at CS Global Partners, adding that “Timbo’s Downtown is a fantastic addition to a great array of real estate in Dominica”.
Paul adds that “with easy access to USA and the surge in demand for ecotourism”, this investment option in Dominica “makes ideal investment and asset diversification for Americans”.
Investors who choose the property investment route can also expect a return on their investment as they are permitted to sell the property after holding it for the required number of years.
Dominica’s Citizenship by Investment Programme
Introduced in 1993, Ranked the world’s best CBI Programme for the fourth consecutive year, according to the latest CBI Index 2020, Dominica’s longstanding Citizenship by Investment programme, at 27 years old, is widely considered to be one of the world’s most efficient and transparent CIPs, combining extensive due diligence with efficiency, speed, affordability and reliability.
Offering rapid relocation, with just 45-60 days application processing times, and the cheapest CBI cost at US$100,000 (along with Saint Lucia and Antigua & Barbuda), Dominica’s CBI programme is not just competitive, it’s winning.
Recently, Dominica extended its ‘dependent’ clause in its CBI Programme to include a wider range of family members, including grandparents and adopted siblings. Dominica furthermore reduced the qualifying fund contribution for a family of four from US$200,000 to US$175,000, comprising the main applicant, their spouse and two dependants other than a sibling.
A Dominican passport gives citizens visa-free access to 141 countries, slightly less than other Caribbean countries, though Dominica has seen the greatest increase in visa-free offerings since 2019 compared to the other CBI countries, and is set to add China to its list. And, as per the just-released Henley & Partners Passport Index 2020 for Q4, Dominica has moved up two places in the passport power ranks from its position in Q1, to 33rd in the world.
Find out more about Dominica’s Citizenship by Investment Programme with our country profile by clicking here