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The Dominican Peso Auto Diaries. Dominican Immigration...

Tousssaintfreedom Says...

The Dominican Peso Auto Diaries.

Dominican Immigration Department recently announced that fees are scheduled to increase across the board.

The increase includes fees for residency processes, which will impact the overall cost of obtaining Dominican residency and renewals.

This is the first increase in fees since 2019--almost five years.

So, it's not too much of a surprise as it's standard for the government to adjust prices to align with the rise of the overall costs of living and doing business due to inflation.

If you're serious about getting residency status in the Dominican Republic and have been waiting to start the process, I'd encourage you to get started now before prices increase.

The residency category to pursue depends on your current residency status, personal circumstances, and goals.

Provisional Residency (Temporary Residency)

Provisional or temporary residency is the first step for those seeking permanent residency.

The applicant will be required to provide various documents, including a birth certificate, proof of income or solvency, and criminal background from your home country.

Provisional residency is usually granted for one year, and it is renewable annually.

Permanent Residency

After holding temporary residency for five years, individuals can apply for permanent residency.

Permanent residents must renew their residency every four years.

Residency for Retirees

Retirees or pensioners who can prove they receive a minimum of $1,500 a month ($1,750 per couple) in pension or retirement income qualify for residency.

Holders of his type of residency must renew after the first year and then every two years after that.

Domestic Investor (Investment Residency)

The investment residency category is for individuals who invest a minimum of US$200,000 in a company registered in the Dominican Republic, a Dominican bank or financial institution, or real estate.

Residents under the domestic investor category must renew every two years.

Domestic investors also qualify for special incentives, including Dominican citizenship six months after receiving their residency card.

Foreign Investor (Rentista Residency)

The foreign investor category is aimed at individuals who earn a minimum of $2,000 a month from sources outside the Dominican Republic, such as a privately owned business, property rental, or investments.

Consult with an attorney to determine the best residency category to pursue.

While some foreigners attempt to go through the residency process without the services of an attorney, I'd highly advise against this path, especially if Spanish isn't your first language.

Posted November 25 2023 at 9:38 PM

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