Obtaining residency in the Dominican Republic

The Dominican Republic – The Best Kept Secret in the Caribbean for Expatriates
 
While the Dominican Republic does not offer any formal economic citizenship programs, the process and cost involved for both residency and eventual naturalization makes it one of the best bargains around.  The Dominican Republic is one of the best places in the Caribbean for bargain Caribbean Real Estate, Tax-Free Banking, and the added bonus of beautiful climate should your interests include a comfortable place to call home. 

Being situated on the second largest Caribbean island (for those that want to explore the possibility of a second home), the country offers both the highest Caribbean mountain range, Pico Duarte, and miles of unspoiled beaches.  In short, this means that those people seeking either a cooler climate found in the lush mountain range or the endless summer lifestyle of a tropical beach can find what they want.

Best Advantage

In addition, the Dominican Republic does recognize dual citizenship.  This means that you do not have to renounce your current citizenship should you choose not to do so (contrary to what many people believe, current US citizens can obtain a second citizenship without jeopardizing their current US passport).

The country also has a number of special “free-zones”, allowing entrepreneurs or business owners to operate a business 100% free from any corporate income tax for up to twenty years.  This is in contrast to places like the Bahamas, which prohibits owners of a Bahamas IBC or “International Business Company” from owning real estate or operating a company within the Bahamas through the IBC structure.  As a result, it is possible for individuals to live in the Dominican Republic and own property without restriction through a Dominican Incorporated “Offshore” Company.  In addition you can enjoy tax-free bank account interest (up to 12% tax-free in US Dollars) and also may own and operate a business through a local Dominican Incorporated Company or other offshore company 100% free from corporate income tax.