Caribbean islands are seeing waves of affluent Chinese millennials buying real estate there because they cannot afford to buy property in their own country. Dominica, the Nature Isle, is particularly popular.
Chinese millennials’ dreams of building prosperity and security in their homeland have crumbled because of recession and economic uncertainty there. Many realise that a well-paying job can only take them so far, but the right investment can be transformative.
China has banned crypto and instituted limits to foreign stock exchanges access. So many wealthy Chinese people are looking offshore and are making some notable returns.
Buying into real estate that is linked with investment migration programmes is one option how families are spending their money.
When property is purchased through an investment migration programme, like that of Dominica, these assets come with citizenship rights, providing families with access to new markets, secure healthcare systems, top-tier educational institutions, and a suite of investment and personal opportunities for present and future generations.
Dominica has one of the world’s top-rated citizenship by investment programmes, established in 1993.
To qualify for Dominica citizenship by investment via the real estate route, applicants must purchase pre-approved property worth at least US$200,000. The investment must be held for three years from the date that citizenship is granted and can only be resold under the citizenship by investment programme after five years.
There are several real estate properties approved by the government, offering options such as villas, hotels, luxury resorts, eco-lodges, and condos. The most popular real estate locations are Portsmouth, Soufriere, Salisbury, and around the capital Roseau.
Top projects for real estate investment in Dominica include the
InterContinental Dominica Cabrits Resort & Spa. It is a five-star resort nestled next to one of Dominica’s pristine national parks and lush ecosystems boasting exquisite views of Douglas Bay beach. The hotel opened in 2019 and has 151 rooms.
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