Why consider the Dominican Republic to obtain residency?
If you are considering immigrating to a country in the Caribbean, The Dominican Republic is an excellent option. In addition to its warm and sunny climate, this country offers a series of tax benefits and a privileged geographical location around the Caribbean.
In this article, we will provide you with a complete and simple guide to obtain residency in the Dominican Republic as a foreigner.
Before getting into the details of how to obtain residency in the Dominican Republic, it is important to understand why you should consider this country in the first place.
- Climate and geographic location
- cost of living
- Fiscal benefits
- Political and social stability
Learn more about all the details that make Dominican Republic the place to emigrate.
Requirements to obtain residency in the Dominican Republic.
To obtain residency in the Dominican Republic, a series of requirements must be met. In general, it requires a certificate of good standing issued by the local police and a series of documents, such as valid passport, birth certificate and marriage certificate (if appropriate). In addition, you must demonstrate that you have enough money to stay in the country and do not have criminal record.
The specific requirements vary depending on the type of residence visa requested. For example, to obtain the investor residence visa, it requires a minimum investment of US$200,000 in a company registered in the Dominican Republic.
A popular option for foreigners who wish to obtain residency in the Dominican Republic is to purchase an apartment as an asset from a company specially created for this purpose. Many developers and companies, such as CLERHP, offer short-term rental management services, so that you do not have to take care of anything and the minimum income can be covered with the profitability of the rental of said apartment.
To get the retiree residence visa, you must demonstrate that you have a pension or regular income of at least US$1,500 per month.
Useful tips to obtain residency in the Dominican Republic.
It is recommended hire a specialized lawyer to assist with the residency application process in the Dominican Republic.
The attorney can assist with the preparation of documents and guide the applicant through the application process. It is also recommended open a local bank account to facilitate adaptation to life in the Dominican Republic.
In conclusion, the Dominican Republic offers a series of benefits for those seeking to reside in the country. If you are considering obtaining residency in this country, it is important know the specific requirements for each type of residence visa and hire a lawyer specialized to help with the application process.
Buying an apartment as an asset from a company specially created for this purpose and taking advantage of the short-term rental management services offered by many developers and companies is a popular option for foreigners who want to obtain residency and generate income by renting the apartment.
Do not doubt explore all available options and seek professional advice to make the process of obtaining residency in the Dominican Republic as simple as possible. Good luck on your adventure in this beautiful and welcoming country!