• About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe
No Result
View All Result
Live and Invest Overseas
FREE REPORT
BEST PLACES TO RETIRE
*No spam: We will NEVER give your email address to anyone else.
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
    • Our Latest On Coronavirus ⚠️
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
Live and Invest Overseas
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
    • Our Latest On Coronavirus ⚠️
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
No Result
View All Result
Live and Invest Overseas
No Result
View All Result

You Should Establish Residency In The Dominican Republic

World's Best Residency Option

Lief Simon by Lief Simon
May 20, 2016
in Dominican Republic, Lifestyle
0
A man standing looking at the city through a window and thinking about the Dominican Republic
220
SHARES
3.1k
VIEWS
Share on FacebookShare on Twitter

Last week I took my own advice and obtained a backup residency.

I’ve chosen to take this step in the Dominican Republic, where I’d been assured that establishing residency can be a straightforward process. I decided to test the theory and find out for myself.

I can tell you now that I wasn’t oversold. This has been relatively painless and also a bargain compared with the costs of other residency programs.

The first thing to understand is that, in the Dominican Republic, you can apply for regular residency or what has been coined “fast-track” residency.

Regular residency is the process undertaken by anyone who doesn’t qualify for a fast-track option. In other words, while regular residency is possible for most everyone, fast-track residency requires you to meet specific requirements.

Fast-track residency options target both retirees (pensionados) and investors.

Retirees have to show US$1,500 or more per month in retirement income. That amount is a bit more than the average U.S. Social Security check, but many individuals and most couples would qualify.

Investors must invest US$200,000 in the country. That investment can take the form of a bank CD deposit, an operating company, or property purchase (through a company).

If you qualify under one of the fast-track options, you’re granted permanent residency straightaway. Under the regular residency application, you have to renew your status every year for the first four years. With fast-track residency, you avoid the annual renewal. You renew your status every four years.

And you don’t have to spend any specific amount of time in the country on an ongoing or annual basis. You need only return for the every-four-years renewal.

Furthermore, your residency in the Dominican Republic can lead to citizenship within three years. If this is your objective—a second passport rather than residency—you could never actually be required to renew your residency… especially as, under the fast-track residency option, you can start your naturalization process six months after receiving your permanent residency card.

Right now, a Dominican Republic passport isn’t a great travel document. However, I have it from a reliable government-connected source that this is about to change. The country has applied for its passport to allow for visa-free travel to Europe, and, again, according to my source, it seems this is going to be granted.

This is not yet public knowledge and not yet a done deal, but, if this comes to pass, it’ll be a very big deal. It would mean the addition of at least 26 European countries to the visa-free travel list for Dominican Republic passport holders… making a passport from the DR much more valuable for those seeking a second citizenship.

If the approval for visa-free travel in Europe comes through, expect an increase in the volume of applications for DR residency, perhaps a dramatic increase. Investors looking for back-up plans will flock to the country happy to put US$200,000 into an investment promising a real return… especially when the alternative is a “donation” to the country as required by the more popular Citizenship by Investment Programs (CIP) of other Caribbean nations, including St. Kitts and St. Lucia.

The timeline for a DR passport is longer than for the CIP programs, but the overall cost is much less.

And, while the DR time line for naturalization isn’t instant as it is for the CIP programs, it is the shortest option out there of any residency-for-citizenship program.

The next quickest option is available in Paraguay, where you need three years of residency before you’re eligible to apply for naturalization. Most countries require five years of residency or more.

According to my local attorney, who participated in this week’s Live and Invest in the Dominican Republic Conference, at least a third of the attendees had already started their residency application process. Some of them even picked up their residency cards while in the country for the conference.

In other words, interest in this country’s residency and citizenship programs is already expanding. If (I believe it’s a question of when) the OK for visa-free travel in Europe comes through, the interest could explode.

I don’t use words like that lightly or often. I make the point now because I see this as a window of opportunity to act before the deluge that I believe is just around the corner.

Because, when the deluge hits, this country would be foolish not to raise the costs of its residency and citizenship programs. And it likely will have no choice but to make the process more difficult and the timeline longer, if only for practical reasons.

I’ve seen this happen before… in Panama, for example, where booming interest in pensionado residency led to increased costs and processing delays.

If you’re looking for a residency backup plan and/or a second citizenship, now is the time to take action in the DR.

Lief Simon

Comments

Tags: citizenship Dominican republicinvest dominican republicLief Simonlive and invest in the Dominican republic conferenceresidency Dominican republicretire dominican republicsecond passport Dominican republic
Share89Tweet55
Previous Post

Coup D’Etat And Crisis Investing In Brazil

Next Post

11 FAQs On Residency And Business In Dominican Republic

Lief Simon

Lief Simon

Lief Simon has lived and worked on five continents and traveled to more than 60 countries. In his long career as a global property investor, Lief has also managed multimillion-dollar portfolios of rental properties, for others and for himself. He offers advice on international diversification in his twice-weekly Offshore Living Letter and monthly Simon Letter dispatches.

Related Posts

Panama City Skyline from Cinta Costera Park, Panama City, Panama.
Investing

How Panama Became A Great Economic Success Story

by Kathleen Peddicord
January 19, 2021
0

Last week we held the biggest Live and Invest in Panama Conference in our history, with more attendees and more...

Read more
Refreshing Cocktail at beach in Belize.

10 Reasons To Reinvent Your Life In Beautiful Belize And 9 Challenges

January 17, 2021
Perfect tropical paradise beach with palm trees and hammock 350x250

Most Frequently Asked (And Not So Crazy) Questions About Retiring Overseas

January 10, 2021
Family watching sunrise on beach.

Moving Overseas Will Affect Your Family But It Can Be For The Better

January 5, 2021
Santa Catalina, Veraguas, Panama.

Starting A School In Panama Near Los Islotes

January 3, 2021
Couple Enjoying Beautiful Sunset Walk on the Beach.

9 Critical Issues To Consider Before Deciding To Live Overseas

January 1, 2021
Happy children boy and girl in costumes of superheroes in the outdoor.

Discover The Charm Of A Back-To-Basics Lifestyle In Belize

December 30, 2020
Next Post
Relaxing In The Dominican Republic with a yellow drink in hand at the beach

11 FAQs On Residency And Business In Dominican Republic

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we'll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today.

Start Your New Life Today, Overseas

how to retire overseas

LIOS Resources


  • New To LIOS
  • Ask An Expert
  • Media Center
  • Contact Us
  • FAQs

Quick Links


  • Best Places To Live
  • Best Places To Retire
  • Finding A Job Overseas
  • Real Estate

Sign up for our free daily e-letter, Overseas Opportunity Letter, and get your FREE report: The 10 Best Places To Retire Overseas In 2021

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

No Result
View All Result
  • Home
  • Countries
  • Budgets
  • Archives
  • News
  • Events
  • Bookstore
  • Newsletters
  • About Us
  • Members Area
  • Contact Us

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

WANT TO RETIRE OVERSEAS?

Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll immediately send you a free report on the 10 BEST PLACES TO RETIRE in style overseas. Each day you’ll learn about the best opportunities for international living, retiring overseas, offshore diversification and asset protection, and investing in real estate around the world.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.