30
Jan

Because of everything it offers, the Dominican Republic is considered a paradise, and for many reasons, it is a very viable option to choose as a retirement destination. Some of the reasons are:

1. Its weather.
2. Its a welcoming nature.
3. Its beautiful beaches.
4. Its economic strength.
5. The security exhibited by the judicial and political system.
6. And above all, because of the multiple benefits that the state has established for foreign nationals who wish to reside in the Dominican Republic as:

A) Investors.

B) Rentiers.

C) Pensioners or Retirees.

In this article, we will list the benefits of having a residence for Rentiers or Retirees in the Dominican Republic.

Every country attempts to ensure that whoever enters with intentions of staying will not become a burden to them. The Dominican Republic is no exception, it has sought and encouraged that foreign nationals who meet certain conditions and wish to reside in the Dominican Republic, obtain residence for Rentiers or Retirees and enjoy special incentives. This is established in ¨Law No. 171-07 on Special Incentives for foreign Pensioners and rentiers.¨

This law establishes all the incentives and advantages for anyone who enjoys their Pension or Retirement in the Dominican Republic.

Features & Benefits

• The privilege of being able to apply for a Residence in the Dominican Republic.

One of the main advantages is that this condition of “Rentier or Retired” will make you eligible to obtain residency in the Dominican Republic.

In this case, it is considered a privilege, given that for you to obtain a legal residence in the Dominican Republic, you need to apply to one of the categories established by law, which are:

1. Relationship ties Residence (RS):

A) Family reunification by marriage.

B) Direct dependence.

2- Residence by Investment.

3- Residence for Pensioners and Retirees.

4- Residence for Rentiers.

5- Business Residence with Employment Purposes.

If you are interested in obtaining a residence in the Dominican Republic, you would need to prove that you qualify for one of the categories that the law has established and that has been listed above.

As a result, it is a privilege to fall under the category of Pensioner or Retiree, since it will make you eligible to apply for a residence in the Dominican Republic without major inconveniences.

• Its validity:

The first residence card issued will be valid for one (1) year; however, after its expiration and second (2nd) renewal, its validity will be two (2) years.

Enjoy exemptions:  

• Tax exemption on real estate transfers for the first property acquired;
• Tax exemption of 50% on mortgages, when the creditors are financial institutions regulated by Monetary and Financial Law;
• 50% Property Tax Exemption when applicable;
• Exemption from taxes that levy the payment of dividends and interest, generated in the country or abroad;
• Exemption of 50% of the Capital Gain Tax, as long as the rentier is the majority shareholder of the company that is subject to the payment of this tax. Additionally, said the company cannot be engaged in commercial or industrial activities.

• Option to include all your dependents in the application:

Dominican migration law states that the main applicant may include his dependents (Family Reunification) in his application. In this Article, you can see who qualifies for this category.

• Option to obtain Dominican Nationality by Naturalization in a short time:

As per our constitution, the interested party may obtain Dominican Nationality by Naturalization if they meet certain conditions and immigration categories.

For more information on how to obtain Dominican nationality, we encourage you to access this article.

Common Questions

What is a Pensioner or Retiree in the Dominican Republic?

Pensioners or Retirees are foreign nationals or Dominican citizens who receive monthly income through a Pension or Retirement from:

1. A government.
2. Official institution.
3. Private foreign companies; after having expressed their intention to relocate permanently and receive the benefits of their pension or retirement in the Dominican Republic.

What documents should I submit to prove that I am receiving Pension benefits?

They must deposit a financial document from the financial institution where the funds come from, in accordance with Law 171-07.

What is the minimum amount of benefits that must be received by way of pension or retirement in order to qualify for residence by Pension or Retirement?

Law 171-07 establishes that in order to qualify for the preferential regime established, the pensioner must receive a monthly income of no less than one thousand five hundred US dollars (US $ 1,500.00); or its equivalent in national currency.

Are my dependents eligible with that amount?

They are not. An additional monthly income of two hundred and fifty US dollars (US $ 250.00) or its equivalent in national currency, will be required for each dependent that applies jointly with the main applicant.

Is there a minimum age requirement in this category?

There is not. To be eligible for this program, the primary applicant will not be required meet a specific minimum age, they must simply meet the requirements established by law.

Steps to follow in order to obtain residence for Rentiers or Retirees in the Dominican Republic

• Apply for a Residence Visa by Rentier or Retiree at the Dominican Consulate, where you have Legal Residence or in your country of origin. You can see more information in this article.

Immediately after obtaining this document, you are required to travel to Dominican Republic in order to start your residency application process for Rentiers or Retirees.

• Submit your residence application for Rentiers or Retiree at the General Directorate of Migration.

What are the requirements to obtain the Residence for Rentiers or Retirees in the Dominican Republic?

Additional documentation may be requested by the corresponding institutions, depending on the case. Said documentation would be:

1. Passport with eighteen (18) minimum months of validity.
2. Residence Visa (RS) with which you entered the country; granted by the Ministry of Foreign Affairs (known in Spanish as MIREX), through the Dominican Consulate, in the applicant’s country of origin.
3. Copy of the entry through the Migration Post used to enter our country.
4. Full-length birth certificate(including all the information pertaining to the applicant’s parents), apostilled or legalized, as appropriate.
5. Certificate of No Criminal Record, issued by the competent authority of the country where you have resided in the last five (5) years. The certificate needs to be duly legalized or apostilled as appropriate and translated into Spanish, if it is in a different language. The kind of certifications which need to include fingerprints for verification purposes, will not be received by the General Directorate of Migration (due to the exclusion of some pieces of information from abroad on those certificates).
6. Four (4) photos taken recently, 2×2 inch size, front view and Four (4) right profile view photos with bare ears and without jewelry or accessories. The pictures also need to have a white background. The photos must be part of a complete set of front and side views.
7. Waranty Policy obtained through the insurance company, authorized by the General Directorate of Migration (known in Spanish as D.G.M.)
8. Document proving your Retired or Pensioned status or Financial documents from the institution where the accumulated funds come from.
9. Bank statements showing the income of the pension in question.

When applying for a residence visa, something very important that you should take into consideration and inform the lawyer who is advising you throughout the process is:

• If you have a criminal record.
• If you have an infectious disease.

This could lead to the denial or ineligibility of your request if you do not follow the process properly.

RESPONSE TIME:

The law establishes a waiting time of forty-five (45) days. However, it may take longer depending primarily on the validation of all your documentation and the workload of the office working your case.

If you would like personalized and detailed advice on this subject, you can contact us and we will gladly assist by providing you a Lawyer specialized in Immigration Law and Dominican Immigration Law, from the Morillo Suriel Law Firm.