IN recent years, more and more investors from the Philippines are diversifying and investing their money in luxury hotels and resorts abroad.
Apart from it being a potentially lucrative investment, there are many perks that you can get. One of which is the so-called golden passport through approved citizenship-by-investment programs.
If it is the first time you heard of the citizenship-by-investment programs, let us give you the quick facts. As the program name suggests, these programs are offered by several countries around the world to interested investors who wish to invest their money abroad in exchange for full citizenship rights, and therefore a second (or often time a third or fourth) passport. First established in 1984, these investments could be in the form of designated government funds, start-ups, and of course properties, including luxury resorts.
Grenada
For example, Grenada’s citizenship-by-investment program, which started in August 2013, offers investors the chance to become citizen through either a contribution into a government-approved fund, or invest into a designated real-estate development. Increasing demands in citizenship-by-investment programs, combined with real-estate acquisitions, have attracted upscale developers such as Range Developments and Six Senses Resorts & Spa to Grenada.
Perhaps, the most enviable development is the exclusive Six Senses La Sagesse Grenada. The Six Senses brand recently became part of the InterContinental Hotels Group. IHG is one of the world’s leading global hotel companies with a growing number of luxury brands including InterContinental Hotels & Resorts, Regent Hotels & Resorts and Kimpton Hotels & Restaurants. IHG purchased Six Senses, the award-winning hospitality and wellness company, for $300 million. The sale includes the management of 16 hotels and resorts, 37 spas and sister companies Evason and Raison d’Etre. Following the acquisition, Six Senses is now expected to grow to 60 hotels within the next 10 years.
Six Senses La Sagesse Grenada was officially signed and approved on January 15, 2019, between the luxury developer Range Developments and the Grenadian Government, with Harvey Law Group (HLG) appointed as strategic investment partner with exclusivity for Southeast Asia.
The share into Six Senses La Sagesse Grenada not only entitle the investor to the myriad of benefits of becoming global citizen, it also entitles qualifying dependents (e.g., children below 30, spouse and parents) to also become eligible under the program, therefore granting them citizenship under a single investment. A share into the Six Senses La Sagesse is currently at $220,000 through a limited partnership structure, allowing the investor to take advantage of a seven-night complimentary stay annually at the resort—which worth $10,000—and a conservative projected profit-share at 3 to 5 percent yield per annum. Average rate per night in a Six Senses is $2,500.
Investing into a share allows the investor to become citizen of Grenada and a shareholder of this five-star luxury resort, located in one of the most beautiful islands in the Caribbean. The resort will feature 70 luxury villas resort, mindfully designed with environmental ethos for modern comforts, all with sustainable and repurposed materials, well-equipped with private plunge pools and sea views. In terms of global mobility, the Grenadian passport allows visa-free access to the European Union (EU) countries, China, the United Kingdom, and 140+ other countries—quite an upgrade compared to the 67 countries the Philippines passport currently grant. Investors are not required to fly, visit nor reside during or after the application process in order to secure the Grenadian passport. A decision will be advised within 60 business days from the date of formal submission, and the issuance of Grenadian citizenship within one month after written approval is received and investment funds paid.
Dominica
Another of the Caribbean’s most anticipated real-estate development is located in the Commonwealth of Dominica (not to be confused with Dominican Republic) under the five-star, world-renowned Secret Bay Resort: The Residences at Secret Bay. The Residences at Secret Bay is Dominica’s only citizenship-by-investment option offering completed villas for immediate purchase with demonstrated rental demand and a competitive exit strategy.
Pricing for The Residences at Secret Bay range from $218,000 per share for citizenship investors to $1,220,800 for individuals seeking full ownership of an under-the-radar, sustainable luxury Caribbean vacation home. With strong demands for ownership by vacation home buyers, The Residences at Secret Bay grants citizenship investors unmatched access to the vacation home market for resale.
Set on 33-acres of pristine jungle-meets-ocean land, the 42 villas and villa estates that comprise The Residences at Secret Bay feature 1,356 to 5,182 square feet of indoor/outdoor living space ranging from 3,557 to 32,290 square feet. The architecture and interiors thoughtfully reflect the pristine Nature Island, embracing casual coastal elegance with stately modern amenities, generous floor plans consisting of indoor and outdoor living spaces, fully appointed gourmet kitchens, tropical hardwoods, private plunge pools, outdoor showers, as well as hammocks and daybeds. Rates per night start at $802 up to $1,800.
Key benefits for the investor and the family notably include full citizenship from the Commonwealth of Dominica, which the passport grant visa-free travel to over 130 countries, including Europe, UK and Hong Kong, a stable political climate, a 90-day path to citizenship, favorable tax regime, and lifetime citizenship for families—passable through generations. Additionally, owners gain access to Secret Bay’s high-performing property rental, resale program, and property management, and access to an exchange program available in over 90 countries.
The citizenship-by-investment program of Dominica is one of the oldest running programs in the world and has been in operation since 1993.
Given all the many brokers “peddling passports” to the upper crust, the Harvey Law Group stands out as being the only law firm, we can hold them accountable.
Established in 1992, Harvey Law Group is the world’s leading investment immigration law firms, and duly licensed and recognized by all residency and citizenship-by-investment programs in the world. HLG is also multinational law firm specializing in corporate law and government advisory, with a worldwide reputation for representing high-profile clients and corporations.
Locally, HLG Philippines is spearheaded by Samuel Harvey and Atty. Elisabeth Dumais and their team, based in Makati, who has advised and assisted countless investors and their families in the past three years.
Globally, HLG is headquartered in Hong Kong, with over 20 offices worldwide including Thailand, Vietnam, Myanmar, Cambodia and the Philippines. Currently, HLG offers residency and citizenship-by-investment programs to 25 countries and counting. HLG was awarded the Immigration Law Firm of The Year at the Annual Macallan ALB Hong Kong Law Awards in 2014 and 2017.