Dominican Republic

Residency by investment

The residency by investment program of Dominican Republic is a legal privilege under the General Immigration Act and its regulations, and the Foreign Investment Act. It exempts a foreign-national from the procedure of obtaining temporary residence.

The program may allow you to obtain an instant permanent residence permit, investing in movable or immovable property or bringing your regular passive income or pension to the country.
Permanent Residency must be renewed 1 year after its issuance. The other renewals must be made every 4 years.

Although, through the program, after 2 years of permanent residency, you may be eligible for naturalization, provided that investment/income requirements are still met.

To become a citizen, you will have to be fluent in Spanish, as you are going to attend an interview with an official, where you will state the reasons why you want to be a Dominican citizen and it will be tested your knowledge about the country values, traditions and culture, and your Spanish skills.
Although there is no an official physical residence requirement, it is recommended to spend significant periods of time prior naturalization and prove some ties to the country.

investment


Person of independent means

You may obtain your permanent residence in Dominican Republic, if you prove that you will receive for 5 years a monthly passive income from a foreign-source for an amount of at least USD 2,000 and you are able to transfer it to a local bank.

Passive income may be derived from:
- Deposits and/or investments in foreign banks.
- Remittances from foreign financial institutions.
- Investments in foreign companies.
- Yields from real estate located abroad.
- Interests from securities in foreign currency, that are in financial institutions legally authorized to operate in the Dominican Republic.
- Investments from securities issued in national or foreign currency, provided that the capital invested is generated abroad, and the currency exchange is made in the national financial system.
- Interests, income or dividends from real estate investments in the Dominican Republic, provided that the investment was made from foreign resources.

For each dependent, it is required an additional amount of USD 250.

Income received from wages or company profits do not qualify.

To renew the permanent residence permit and/or apply for naturalization, you must prove that at least USD 2,000 monthly passive income has been transferred to a local bank.

Requirements


- Do not suffer from a contagious disease or a mental illness that alters your behavior.
- Clean Criminal record.
- Letter signed before a notary by a Dominican or permanent resident alien in the Dominican Republic that guarantees that you will at no time be a charge for the Dominican State. In addition to the expenses of repatriation and others, if necessary evidence of an insurance policy. This guarantee must include the dependents.
- Bank letter stating that you have a bank account at a Dominican bank.
- Receipt of foreign currency income to the country and original certification of the receiving bank in the Dominican Republic.
- For foreign bank deposits or foreign financial institution remittances, account number, average annual balance, time that the account has and a certified copy of the investment certificate.
- For investments in foreign entities, certificate issued by the company that certifies that the investment provides stable and permanent income for a period of not less than 5 years. In addition to the documentation proving you as a shareholder or owner.
- For foreign real estate income, proof that you have permanent income from abroad for a period of not less than five years, through an original of the contract of rent and copy of the original title of the property.
- For foreign currency securities in DR, certificate issued by the financial institution authorized to operate in the Dominican Republic that certifies that these interests provide you with stable and permanent income for a period of not less than five years.
- For national/foreign currency securities, certificate issued by an institution certifying that these profits obtained by investment in securities will provide stable and permanent income for a period of not less than five years. In addition to the copy of the securities issued in foreign currency and / or national, but whose capital has been generated abroad.
- For DR real estate, certification issued by deed registration on the property purchased in the Dominican Republic and copy of the deed.
- For real estate investments that yields dividends and interest, certification of these investments.
- Rental income, you must deposit the lease duly registered or legalized. In addition to proof that the money invested in real estate investment comes from abroad. Receipt of currencies to the country, by copy of checks or notice of transfer of financial institution established abroad.

Restricted Nationalities


No nationality is officially restricted

dual citizenship


Dual citizenship is recognized in Dominican Republic. You are not required to renounce your previous nationality to become a citizen of Dominican Republic.


Documents Required


  • Certified copy of passport
  • Original or Certified copy of Birth Certificate (if applicable)
  • Original or Certified copy of Marriage Certificate (if applicable)
  • Original Police Clearance Certificate
  • Evidence of Health Insurance
  • Medical Certificate
  • Nine passport-size photos
  • Proof of income
  • Bank Statement
  • Original Bank Reference Letter (Not older than 6 month)
  • Affidavit of support for Dependents
  • dual citizenship Yes
  • Family members included Yes
  • land ownership Yes
  • Physical residence required No
  • Personal visit required Yes
  • Language skills required No
  • Interview required No
  • Investment Single -
  • Investment Family 4 -
  • Minimum annual income $24,000
  • Time to citizenship 24
  • Time to permanent residency 3
  • Visa-free countries 56
  • Financing available No

Fees

processing fees main applicant RD$ 1,500
certificate issuance fee RD$ 9,350 (over 16) RD$ 6,800 (under 16)
other fees Medical Check: RD$ 3,160 (over 16), RD$ 2,140 (under 16) Stamp duty: RD$ 305 (over 16), RD$ 101 (under 16)
total fees main applicant RD$ 14,315
processing fees spouse RD$ 1,500
certificate issuance fee RD$ 9,350 (over 16) RD$ 6,800 (under 16)
other fees Medical Check: RD$ 3,160 (over 16), RD$ 2,140 (under 16) Stamp duty: RD$ 305 (over 16), RD$ 101 (under 16)
total fees spouse RD$ 14,315
processing fees dependents -18 RD$ 1,500 (16-18)
certificate issuance fee RD$ 9,350 (over 16) RD$ 6,800 (under 16)
other fees Medical Check: RD$ 3,160 (over 16), RD$ 2,140 (under 16) Stamp duty: RD$ 305 (over 16), RD$ 101 (under 16)
total fees dependent -18 RD$ 14,315 (16-18) RD$ 9,041 (under 16)
processing fees dependents 18-25 RD$ 1,500
certificate issuance fee RD$ 9,350 (over 16) RD$ 6,800 (under 16)
other fees Medical Check: RD$ 3,160 (over 16), RD$ 2,140 (under 16) Stamp duty: RD$ 305 (over 16), RD$ 101 (under 16)
total fees dependent 18-25 RD$ 14,315
processing fees dependents +65 RD$ 1,500
certificate issuance fee RD$ 9,350 (over 16) RD$ 6,800 (under 16)
other fees Medical Check: RD$ 3,160 (over 16), RD$ 2,140 (under 16) Stamp duty: RD$ 305 (over 16), RD$ 101 (under 16)
total fees dependent +65 RD$ 14,315

Country details

Dominican Republic
DOP
1809
Santo Domingo
North America
Spanish
9823821
Dominican Republic is located in the central zone of the Antilles, in the eastern two-thirds of the island of Hispaniola. Bordering on the north by the Atlantic Ocean, on the east by the Mona Channel, separating it from Puerto Rico, on the south by the sea Caribbean, and to the west with Haiti, which is the other country located in Hispaniola.

With 48,670 sq. km and a population of more than 10,785,000 inhabitants, is the second largest and populated country of the region, after Cuba. Its capital is Santo Domingo and its official and most spoken language is Spanish. The currency of legal tender is the Dominican Peso (DOP), although the US dollar is involved in almost all commercial transactions, and together with the Euro, is widely accepted in most tourism avenues.

Visa Free Travel

With your new passport from Dominican Republic you'll be able to access 56 countries visa free
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Taxes

To be a tax resident in the Dominican Republic, you must stay more than 182 days in a year in the country, continuously or not.

Income tax is levied on a territorial basis. This means that only local-source income is subject to taxation, whereas foreign-source income is usually exempt, except certain foreign-source investment income and financial gains, which may be subject to taxation.

However, new residents are fully exempt on taxes on foreign-source investment income and gains for their first three years of residency.

Personal income tax is levied at progressive rates up to 25% on annual income exceeding DOP 833,171. Capital gains are treated as ordinary income, shares and cash dividends are exempt, provided that a final withholding tax of 10% was applied on source. Interests from Dominican banks and financial institutions are also exempt from taxation. Rental Income is treated as ordinary income.

Real property tax rate is 1% and it applies on the exceeding value of residential properties over DOP 7.019 million. Transfer of real property is subject to a 3% tax on the transfer value.
Inheritance tax is levied at 3%, whereas gifts are taxed at a 25% rate.

V.A.T. is levied at rates between 13% and 18%. Although certain goods and services are exempt.

Regarding corporate taxation, resident entities are subject to income tax on their income derived from Dominican source. Foreign-source income is usually tax-exempt. Corporate income tax rate is 27%.

Dividends received are tax exempt provided that were taxed on source. Capital gains are included in taxable income and taxed at standard rates. However, those from the disposal of shares may not be subject to taxation.

To learn more about Dominican Republic corporate legal framework, taxation and tax treaties, check out
incorporations.io/dominican-republic.

This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.

  • Property tax Yes
  • Transfer tax No
  • Inheritance tax Yes
  • Net worth tax No
  • CFC law No
  • Tax residency days 183
  • Personal income tax rate 25%
  • Capital Gains tax rate 27%
  • Investment income tax rate 10%
  • Territorial taxation Yes

Procedures

Flag Theory | Passports.IO and our qualified attorney in Dominican Republic, will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain free as possible.


First, our lawyers will conduct a due diligence check on you to ensure that you are eligible and meet the criteria to apply for the program and your application will be approved.
If required, we will introduce you to several banks in order to open a bank account. We work primarily with banks that allow for remotely opened accounts to ensure that you are ready to start transferring your monthly income, get the required certificates and apply for the visa as soon as possible.

We will send you the application forms and provide assistance to complete the questionnaires, translate and authenticate documents.

You may apply for the visa in the foreign investment window of the General Directorate of Migration in Santo Domingo. You will have to make a medical check in a designed clinic.

Once your application is approved, you may apply for your permanent residency card, that will be issued within a maximum period of 45 working days. After that you must apply for the Cédula (ID card). The whole process takes within 3-6 months.

For further information on Dominican Republic residency by investment and detailed procedures, contact us for a free private consultation.

Any time there is a change or new citizenship or residency by investment program, we'll send you an update via email. Your email will not be shared.