Dominica developer calls for CBI investigation over alleged “cancerous” illegal discounting

The founder and CEO of Secret Bay Resort & Residences Gregor Nassief has written to the Prime Minister of Dominica, Roosevelt Skerrit, 14 times in seven years. In those letters, he claims that under the country’s citizenship by investment (CBI) programme, illegal discounted pricing is being used—something he says undermines government revenue and distorts the market.

On Friday, Nassief held a press conference in Roseau. He said he is prepared to pursue legal action if the government continues to ignore the issue.

The latest development comes after a leak of his most recent letter dated 17 June, addressed to Skerrit and opposition leader Jesma Paul-Victor. Copies were sent to the Cabinet, all members of Parliament, President Sylvanie Burton, the head of the Financial Intelligence Unit, and the director of the Citizenship by Investment Unit (CBIU).

Nassief, however, stressed that he did not circulate the letter himself, and after it appeared in the public domain, he concluded that sharing the explanation with the public matters.

The “math” Nassief says is hurting the budget

Nassief’s central argument is presented in a fairly technical way, relying on comparative calculations. He alleges that Dominica’s citizenship is “sold with a discount”—a practice he describes as “contrary to the law” and “inconsistent with the regulations”.

According to his account, there are two main investment routes in Dominica’s CBI:

1) Contributions to the Economic Diversification Fund (EDF)
— US$200,000 for a single applicant; US$250,000 for the main applicant with up to three dependents. Nassief says these funds go into the Treasury.

2) Real estate investments
— US$200,000 into a government-approved project plus state fees. In a June 2024 notice published in the gazette, the fees were set at US$100,000 for a family of four.

Nassief says these two mechanisms “worked correctly for years”.

The problem, he argues, emerges through a third channel that—according to him—took shape in the 2016–2018 period. It was then that a housing option was introduced into the CBI programme, followed by projects linked to a new international airport. Together, Nassief groups them under the term social infrastructure option.

It is here, in his view, that prices fall well below the legally mandated threshold. He claims only around US$15,000–20,000 reaches the Treasury from such deals.

He then frames it as a product-competition question: who would pay US$250,000 for citizenship for a family of four, if a “discounted” version can be obtained through third parties—effectively almost half the price?

As a result, he says, volumes shift to the cheapest product—the one that generates the least for the state. Deals that should go to the EDF or the real-estate scheme instead “migrate” to the “discount” model. In Nassief’s slides, the comparison was stark: 100 lawful EDF applications generate more revenue for the Treasury than 1,000 discounted ones.

In interviews and presentations, Nassief argues that the government has for seven years tolerated discounting—something Dominica’s own offerings cannot compete with. He also says the mechanism affects developers: some projects are put on hold, and he describes construction across the island as a “visible” consequence—while refusing to name specific projects: “I’m not going to say who they are.”

He adds that some projects allegedly began discounting their own offers to compete “in desperation.” But, he claims, that did not solve the situation. He says he has tried many times to stop the practice because, in his view, it damages government revenue.

What Nassief says the EU data shows

Dominica, Nassief notes, does not publish issuance statistics at the level of detail he cites. He also clarifies that the source is European Union data: “the information is not disclosed transparently,” and his figures are an estimate compiled from documented materials.

At the core of his references is the seventh European Commission report on the visa suspension mechanism. Analysis by IMI, published in December 2024, records the following:

— 34,596 CBI passports for Dominica issued in the period 2018–2022;
— 9,539 in 2023;
— 5,484 in the first half of 2024.

In total, Nassief arrives at 49,619 passports issued and argues that this period exceeds every performance figure for the programme prior to that.

He also presents a trend: in the early years, his calculations show issuance at about 500–800, before rising to roughly 2,000 by 2017–2018. And then, as he puts it, “when discounting becomes entrenched,” the programme becomes high-volume and high-discount.

Seven years and fourteen letters

According to Nassief, Secret Bay joined the CBI later than others. The resort was founded in 2011, but he says it was not approved as a CBI project until 2019. From that point, he claims, he began seeing deals he considers unlawful. His first letter to Skerrit was sent on 1 October 2019.

In one of his submissions, Nassief read out a passage publicly: practices, in his view, “should no longer be tolerated.” He warned that without stopping them, it would be “like cancer” that eats away the legitimate parts of the industry, leaving only those willing to pursue less ethical schemes in a “race to the bottom.”

After seven years, his assessment, as he put it, boiled down to four words: “Nothing has been done.”

He says letters are not the only channel. He claims he has met the Prime Minister “many times,” discussed the matter with ministers, and engaged with the President—but ultimately concluded that parliamentary hearings are the only remaining route.

Roseau, at least in tone, appears to respond in a similar spirit. In October 2018, the then head of the CBIU Emmanuel Nanthan told agents that special offers and discounts were “contrary to the law” and demanded that they stop immediately.

Then, in January 2022, the CBIU prohibited any statements suggesting citizenship could be obtained below the established minimum. And in 2024, Skerrit warned that legislative changes would allow the state to revoke citizenship obtained below the threshold values.

Three capitals, three restrictions

Nassief claims that the international measures of the past three years share the same source: the CBI programme itself. For example, the United Kingdom removed visa-free access for Dominica citizens on 19 July 2023, and at the time the then Home Secretary Suella Braverman cited “clear and obvious abuses” by the programme.

Next came decisions from the United States: in December 2025, partial travel restrictions were introduced, and in January 2026 processing of immigration visas was frozen; visa validity was reduced from 10 years to three months.

The European Commission, he says, went further. On 25 June, it sent letters to all five CBI programme countries in the Eastern Caribbean region, asking them to wind down their programmes by 1 June 2028, with a 24-month transition period. Skerrit chaired the meeting in Roseau on 10 July, where the five governments agreed on a joint response and a mission to Brussels.

In every case, Nassief argues, the stated reason is CBI. He illustrates the problem with a personal observation: a UK immigration officer, after reviewing his passport, told him: “You are the first person with a Dominica passport who was actually born in Dominica.”

He then describes the dynamic scenario: if, a few years ago, 500 people with Dominica passports were coming to the UK anticipating visa-free travel, later that number could have grown to 5,000—and, in his view, that is what triggered the tightening.

Nassief also speaks to personal consequences. In May, he became the first President-elect from Dominica in the Caribbean Hotel and Tourism Association (CHTA). A few weeks later, his US visa was not renewed; he linked it to the travel restrictions.

Domestic challenges: the budget’s dependence on CBI

In Nassief’s argument, losses and shortfalls show up in the budgets Parliament approves, while the Treasury cannot fund the required line items. He specifically claims that tourism marketing receives about one-fifth of the amount lawmakers vote.

His thesis about Dominica’s dependence is not disputed. The opposition Dominica Freedom Party points out that in the 2025/2026 budget it was planned that 56.7% of recurring revenue would come from CBI. Meanwhile, non-CBI recurring revenue totals EC$456.2 million (about US$169 million), and recurring expenditure totals EC$679.9 million (about US$252 million).

Parliament approved the 2026/2027 budget just days before Nassief’s address. Finance Minister Irving McIntyre presented the document on 4 August; recurring revenue was EC$1,032.1 million (about US$382 million). Tax revenue was EC$473.5 million, and “non-tax revenue”—which includes CBI receipts—was EC$558.6 million.

From this, Nassief concludes that the core demand raised in all fourteen letters effectively comes down to the need for an alternative foreign direct investment strategy not tied to selling citizenship. He describes the programme as vulnerable and says the island’s economy is dangerously dependent on it.

He says that over seven years of letters, they have not even managed to develop a basic alternative. “We don’t have a non-CBI strategy—even at this stage—and it is very, very harmful for the future of the island.”

What exactly Nassief is asking for

In his latest letter, Nassief asks for parliamentary hearings or a special committee review involving the Cabinet, Parliament, the Financial Intelligence Unit, the CBIU, representatives of civil society, and selected voices from the private sector.

If that does not happen, he insists on judicial review, the creation of a commission of inquiry, and an independent financial audit using forensic approaches. He also requested a response within 21 days.

Beyond the pricing concerns, Nassief raises the issue of agreements that, he says, should be public but remain closed, and he points to cases where construction begins without the necessary approvals. In his wording: “Our law requires that planning be approved before projects begin and before construction starts.”

He believes those approvals are needed not only for paperwork, but to protect the environment and ensure what is being built—and where—is properly controlled. Developers, he says, cannot simply start building; the state must know the parameters of the works.

He also claims the programme is not transparent in any sense, and that agreeing on how the money is spent is “very difficult.”

At the same time, he stresses that he is not calling for CBI to be shut down. His position differs from Brussels’ approach and from the logic of his own government. “We are willing to go to court,” he says.

IMI has sent a number of questions to the Office of the Prime Minister regarding statements on pricing, the history of compliance with requirements, and Nassief’s request for parliamentary hearings. The report will be published with full responses from Skerrit if the Prime Minister provides them.

If you’re exploring golden visa options or investment residence/citizenship via CBI-style programs, it’s crucial to look beyond eligibility and fees—also at how pricing rules, discounts, and compliance are structured. When public claims emerge about potentially unlawful “discounting,” applicant and project risks can increase. The team at Digital Nomad can help you understand the program mechanics and prepare a well-documented, transparency-focused application.

Our Telegram channel about various types of Greek residence permits, digital nomad programs, and the Greek Golden Visa: @digitalnomadgr