Dominican Republic has been making reforms in order to attract foreign nationals looking to retire and invest in the country. One of these reforms known as the fast track residency involves issuing those who qualify as retirees and investors permanent residency instead of going through the normal process of holding provisional residency for four years. Until now, those who qualify for the fast track residency are those who either earn a minimum of $1,500.00 from a pension, earn a minimum of $2,000.00 per month from investments overseas or invest a minimum of $200,000.00 in a company registered in the DR or a banking institution.
Now immigration has established that foreign nationals who purchase properties that are valued at $200,000.00 or more will qualify as domestic investors. This means that those who are not retired and don’t generated income from investments in their country of origin but have a nest egg they can use to purchase a plot of land or home can qualify for this fast track residency. The benefit to this fast track residency is that six months after the residency card is issued the foreign national will qualify for naturalization (citizenship) which leads to a second passport.