Your Residency In The Dominican Republic

By Author: DavinaUsha
Total Articles: 2
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At Prestige Realty we not only sell condos and villas and oceanfront land, we help you get settled in. The Dominican Republic is one of the most welcoming countries in the world. Applicants for resident status must be in good health, have sufficient means and a clean police record. The application may be filed while the applicant is present in the country under a tourist card or visa. A foreign national who has lived in the Dominican Republic as a permanent resident for two years or in certain cases, six months, may apply for Dominican citizenship (naturalization). Naturalization is not automatic but granted at the discretion of the government. There is no economic citizenship program in the Dominican Republic providing for automatic citizenship upon the investment of certain amount of funds in the country. Depending on which lawyer you use, fees for your provisional residency are approx. $US 1,800 per person. We have a very good lawyer who will process a couple for $1100 per person. The process to get your provisional residency can take up to 3 months. At Prestige Realty we help you find the right lawyers and contacts to make ...
... this all happen.

The main advantages of having your residency are: A legal resident can work and conduct a business in the Dominican Republic. Non-residents do work here all the time but there can be complications. 2) A resident is allowed to bring in duty free his household items, ranging from kitchen appliances, to furniture (Article 13 of Law #146-00). A non-resident must pay applicable duties on these goods. 3) A non-resident cannot sue a Dominican national or a legal resident in court without posting a bond, usually quite high. A legal resident is exempt from this requirement. 4) In case of inheritance, a non-resident beneficiary must pay a 50% surcharge on applicable estate taxes; residents are not subject to this surcharge. 5) For many foreigners interested in not paying taxes in their home countries on income earned outside their home country, it is a prerequisite to obtain residency status in another country. 6) A resident can enter the Dominican Republic without having to buy a tourist card; a non-resident must obtain a visa or buy a tourist card.

The main advantages of dealing with Prestige Real Estate in Cabarete:

Our years of experience, our total dedication to you as our valued client, our commitment to integrity and transparency as we help you make that Caribbean real estate purchase. Whether you are buying a condo for $35,000 or a estate for $3,000,000 we make sure you are always well represented. Call or email us. cabaretewilliam@hotmail.com 809-935-0809.
For more information about Caribbean Real Estate please move on www.caribbeanrealty.ca