Residency in Dominican Republic

The Dominican Republic is a popular destination for those looking for a change of pace, living in a tropical environment, and enjoying beautiful beaches. Many people from all over the world consider establishing their residency in this Caribbean country. Here is some information about the different types of residencies available in the Dominican Republic, as well as the requirements and benefits associated with each.

Types of Residency

• Temporary Residency: This residency is granted to foreigners who want to live in the country for a limited time, most of whom are students, workers, investors, among others. The validity of the temporary residency is one year and can be renewed year after year.
• Permanent Residency: Permanent residency in the Dominican Republic is granted to foreigners who have legally resided in the country for five consecutive years under a temporary residency. It can also be obtained through other means such as investment or marriage to a Dominican citizen.
• Residency by Investment: This residency is granted to foreigners who make a significant investment in the country, whether in real estate, businesses, or tourism development projects.
• Residency for Retirees: This type of residency is intended for those over 45 years of age who wish to spend their retirement in the Dominican Republic and who can demonstrate a stable pension or monthly income.

Requirements and Benefits

Each type of residency in the Dominican Republic has specific requirements that must be met before being granted. For example, to obtain temporary residency, good health, sufficient financial means to support oneself, and no criminal record must be demonstrated.

For investment residency, the minimum investment amount will depend on the investment initiative upon which the application is based. Other requirements must also be met, such as providing specific documents and providing an affidavit from a competent lawyer.

The benefits of residency in the Dominican Republic can include tax exemptions and reduced fees for education and public services. Discounts on air transport and other specific benefits can also be obtained.

Conclusion

The Dominican Republic offers a variety of options for those wishing to establish their residency in the country, each with specific requirements and benefits. If you are considering establishing your residency in the Dominican Republic, it is important to obtain up-to-date and accurate information about the requirements and process for applying for residency. It is recommended to seek the assistance of an immigration lawyer to help you in the process.