We consider an open quantum system described by a Lindblad-type master equation with two time scales. The fast time scale is strongly dissipative and drives the system towards a low-dimensional decoherence-free space. To perform the adiabatic elimination of this fast relaxation, we propose a geometric asymptotic expansion based on the small positive parameter describing the time scale separation. This expansion exploits geometric singular perturbation theory and center-manifold techniques. We conjecture that, at any order, it provides an effective slow Lindblad master equation and a completely positive parameterization of the slow invariant sub-manifold associated to the low-dimensional decoherence-free space. By preserving complete positiv...