• 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

Residency, Real Estate, And Business Investment In The Dominican Republic

Lief Simon by Lief Simon
Jun 17, 2015
in Dominican Republic, Real Estate
0
Las Terrenas, Dominican Republic
210
SHARES
3k
VIEWS
Share on FacebookShare on Twitter

Dominican Republic Question And Answer

Why the Dominican Republic?

In short, the answer is that this island nation is your best option for an affordable life in the Caribbean and one of the best places in the world right now to invest in a rental property, both because of the growing demand and also because the property market is undervalued. In some places, you can buy a rentable one-bedroom apartment for as little as US$50,000.

Another reason to be looking at the Dominican Republic right now is its approach to residency. You don’t have to live in the country to be a resident and enjoy the associated benefits, making this a great choice for a backup residency. Furthermore, after you’ve been a permanent resident for two years, you can apply for naturalization.

Right now, in fact, the country is trying to attract foreign investors and residents and so is allowing people to apply for naturalization after just six months of permanent residency. The naturalization process used to take seven years; it’s currently taking a year and a half. Again, this country is very eager to attract foreigners.

Attendees in the room with me in Santo Domingo last week had a lot of questions in response to all the information my team and I presented. I share some of their questions here to help give you a better idea of the opportunities and possibilities available in what has become my favorite Caribbean destination…

Q: Do you have to be a resident to open a bank account?
A: No.

Q: Is there a minimum deposit requirement when opening a bank account?
A: No, not always. Depends on the bank.

Q: Where is the Dominican Republic in relation to FATCA? Are banks compliant?
A: Yes, some banks are compliant. This is an evolving situation here, as it is everywhere in the world right now.

Q: We’re residents of Panama. Would any Panamanian document be required for us to establish residency in the Dominican Republic?
A: Yes, you would need to show your Panama residency card and to obtain a certificate of good conduct from Panama if you’ve been residing in that country for five years or longer. If not, then you’d need good-conduct certification from the United States (assuming that’s where you were residing before Panama).

Q: Panama restricts many professions. Are there such restrictions here?
A: No, there are none at all. You can practice any profession or start any kind of business you want here, so long as you are qualified to do so. If you are an attorney back home, for example, you could practice in the Dominican Republic after having your license validated here. In that case, to obtain that validation, you would need to be a resident.

Q: Would passive income count toward an investor visa residency?
A: Yes, any income can be used for this. The requirement is to be able to show that you have been receiving this income for at least five consecutive years.

Q: We’re interested in permanent residency in the Dominican Republic. We’re planning to buy a condo in Las Terrenas. Is the US$200,000 we’re spending on that condo enough to qualify us for the visa even though it’s not an income?
A: No, it’s not. The Dominican Republic has to benefit in some way from your US$200,000 investment.

Q: What is the minimum investment amount to qualify for residency?
A: The minimum for domestic investor residency status is US$200,000. Again, in this case, a real estate purchase doesn’t qualify.

Q: What if I registered a company and put US$200,000 in it and then the company used that money to buy a condo. Would that qualify for the residency?
A: Yes, that would work. You can register the company for the sole purpose of buying the condo. That qualifies.

Q: If I obtain Dominican Republic citizenship, am I required to give up previous citizenships?
A: No, the Dominican Republic allows you to keep up to three citizenships.

Q: Can you get provisional residency and still travel back and forth to the United States freely?
A: Yes.

Q: What is the required time in country to maintain residency once I’ve established it?
A: You need to come back to renew every four years. Stay away for longer than four years, and you’ll have to pay a fine when you renew… but you should still be able to renew.

Lief Simon

Continue Reading: Rules And Restrictions When Taking Pets To A Foreign Country

Comments

Tags: backup residencycitizenship in the dominican republicdual nationalityLief Simonlive and invest in the dominican republicproperty in the dominican republicreal estate in the Caribbeanreal estate in the dominican republicResidency In The Dominican Republicsecond citizenship
Share85Tweet52
Previous Post

Rules And Restrictions When Taking Pets To A Foreign Country

Next Post

Restaurant Taxes And Tipping In The 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

How To Invest In Property 101: The Pitfalls You Should Avoid
Real Estate

How To Invest In Property 101: The Pitfalls You Should Avoid

by Lynn Mulvihill
January 18, 2021
0

Among the new trends we faced last summer in Ireland, a country home being snapped up by a foreign buyer...

Read more
Tropical waterside house with moored boat on lagoon side of Placencia in Belize.

Buying Real Estate In Belize: What You Need To Know

January 12, 2021
Red For Rent Real Estate Sign in Front of Beautiful House.

How To Make Sure You Profit From Your Overseas Rental Property

December 20, 2020
Panama City, Panama

How To Find A Rental In Panama City

December 18, 2020
House on top of a map. Invest in real estate concept.

Invest Now, Earn Later: Best Places To Invest In Real Estate

December 8, 2020
City skyline at Panama City, Panama.

Why Investing In Panama City Today Is A Different Ball Game

November 30, 2020
Happy family with cardboard boxes in new house at moving day.

Easiest Countries For Americans To Move To

November 23, 2020
Next Post
Tipping In The Dominican Republic

Restaurant Taxes And Tipping In The 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.