Updated: Jul 11, 2018

A growing concern of foreign nationals that are of retirement age is where to retire. With the current financial crisis affecting many countries retirees are looking for alternative destinations in order to make sure they can live comfortably on their pension income. The Dominican Republic offers many incentives to those who wish to retire in the country. Some of those incentives are:

  • Permanent residency within a few months

  • Qualify to apply for citizenship two years of being issued a residency card

  • 50% tax exemption on properties

  • Exemption of taxes on income earned from pension

  • Exemption from taxes levied of the payment of dividends and interest earned

  • Exemption of taxes of home furnishings and personal property

  • Partial exemption of vehicles taxes (transfer taxes on the purchase of vehicles)

  • Exemption of 50% of the capital gains tax, as long as the annuitant is the main shareholder of the company and that company is not engaged in commercial or industrial activities

For those looking to build a home to retire in, the cost of land in the Dominican Republic is very reasonable. To cite an example, in a town like Cabrera you can purchase property with a million dollar view at a very affordable price. This is of special interest to foreigners coming to the DR on a budget, after all, not everyone can afford to purchase expensive property in the most exclusive areas, but in this diverse island everyone can have their dream house in the perfect spot at an accessible cost.

Another reason for retiring in the DR is the low cost of living which is also a concern for those living on a budget. In a future article we will address that subject in detail.

#PermanentResidency #CitizenshipWithinSixMonths #50PercentTaxExemption #ExemptionOfTaxesOnIncome #PartialExemptionOfVehiclesTaxes #ExemptionOf50PercentOfCapitalGainsTax

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Land of opportunity

The Dominican Republic is among the best places to buy real estate in 2016, and certain areas in this country are the absolute best places to be shopping for affordable beachfront retirement. In addition, for a CD with a bank in this country to earn as much as 5% for U.S. dollars and double digits on a Dominican Republic peso deposit.

World Bank review

The Dominican Republic has the largest economy of Central America and the Caribbean. The country has weathered the global economic crisis well and in 2010 experienced one of the highest growth rates in the region. The DR remains the most rapid economy in the region in 2014 and 2015, with a GDP hovering at 7 percent.

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Our primary objective is to use our knowledge, experience and expertise regarding life in the Dominican Republic along with safe and sound business practices to assist all of our clients in creating the life they desire in the Dominican Republic.

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The Dominican Republic is fast becoming a popular destination for expats. Each year, more and more people from Europe and the US are lured to this part of Hispaniola by the tropical climate, inexpensive properties and high rates of return on investments. Locals, who are known for their friendliness, curiosity and warm hospitality.

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