Gregor Nassief, founder and CEO of Secret Bay Resort & Residences, has pressed the Dominica government for an inquiry into what he describes as “illegal discounting” of citizenship‑by‑investment (CBI) sales. Over seven years he has sent fourteen letters to Prime Minister Roosevelt Skerrit and other officials, warning that discounted schemes are diverting revenue from the treasury and threatening the island’s fiscal stability.
The alleged pricing irregularities
Dominica’s CBI regulations recognise two primary investment routes:
- Economic Diversification Fund (EDF) – US $200,000 for a single applicant, US $250,000 for a family of up to four, with the full amount paid to the treasury.
- Approved real‑estate projects – US $200,000 investment plus government fees, set at US $100,000 for a family of four in the June 2024 gazette.
Nassief points to a third “social infrastructure” stream that emerged between 2016 and 2018, linked to housing and airport‑related projects. He claims the pricing for these projects is far below the statutory floor, with only US $15,000–20,000 of each transaction reaching the treasury. By contrast, a lawful EDF application for a family of four would bring US $250,000.
He illustrated the disparity with a ratio: 100 lawful EDF applications would generate more revenue than 1,000 discounted applications. The volume of discounted sales, he argues, has displaced higher‑value transactions, eroding state income.
Evidence from EU data
Dominica does not publish detailed CBI issuance figures, but Nassief cites the European Commission’s seventh visa‑suspension report, which recorded:
| Period | Passports issued |
|---|---|
| 2018‑2022 | 34,596 |
| 2023 | 9,539 |
| Jan‑Jun 2024 | 5,484 |
| Total (2018‑mid‑2024) | 49,619 |
He notes that annual issuances rose from 500‑800 in the early years to roughly 2,000 by 2017‑2018, before the alleged discounting took hold, leading to a “high‑volume, highly discounted” program.
Government response history
- October 2019 – Nassief’s first letter to Skerrit after Secret Bay’s CBI approval.
- October 2018 – CBIU head Emmanuel Nanthan warned agents that “special offers and discounts were contrary to law” and ordered an immediate stop.
- January 2022 – CBIU prohibited any claim that citizenship could be obtained below the prescribed minimum.
- 2024 – Skerrit announced legislation that would allow revocation of citizenships granted below the legal threshold.
Despite these statements, Nassief says no substantive action has been taken.
International repercussions
The alleged discounting is linked to several external measures:
- United Kingdom – Visa‑free access revoked on 19 July 2023, citing “clear and evident abuse” of the CBI program.
- United States – Partial travel restrictions announced December 2025, followed by a freeze on immigrant visa processing (January 2026) and a reduction of visa validity from ten years to three months.
- European Union – On 25 June 2024 the Commission asked the five Eastern Caribbean CBI states to phase out their programs by 1 June 2028, with a 24‑month transition. Dominica participated in a joint response meeting on 10 July 2024.
Nassief recounts a British immigration officer noting the rarity of a Dominican passport holder actually born in Dominica, underscoring the program’s reputational damage.
Fiscal impact on Dominica
- 2025/2026 budget (opposition estimate) – 56.7 % of recurrent revenue projected to come from CBI, with non‑CBI recurrent revenue of EC $456.2 million (≈ US $169 million) against recurrent spending of EC $679.9 million (≈ US $252 million).
- 2026/2027 budget (approved 4 August 2024) – Total recurrent revenue EC $1,032.1 million (≈ US $382 million); tax revenue EC $473.5 million, non‑tax revenue (including CBI) EC $558.6 million.
Nassief argues that the discounted scheme reduces the non‑tax revenue stream, limiting funds for tourism marketing and other public services.
Requested actions
In his latest letter (dated 17 June 2024) Nassief asks for:
- A parliamentary hearing or special committee review involving Cabinet, Parliament, the Financial Intelligence Unit, the CBIU, civil society, and private‑sector representatives.
- Failing that, a judicial review, a commission of inquiry, and an independent forensic financial audit.
- Publication of agreements related to CBI projects and enforcement of planning approvals before construction begins.
He set a 21‑day deadline for a response and indicated willingness to pursue litigation if the matter remains unaddressed.
Current status
The Prime Minister’s office has not yet responded publicly. IMI has submitted a set of questions to the Office of the Prime Minister covering the pricing allegations, enforcement record, and Nassief’s request for a parliamentary hearing. Further developments will be reported as they become available.
Source article: www.imidaily.com
