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Dominican Republic

Dominican Republic Citizenship by Investment Program

The Dominican Republic offers a fast track residency/citizenship by investment program, providing an option to obtain citizenship. Although it requires an investment of $200,000, you can withdraw your investment after citizenship is granted, about two years.

  • Total approximate fees: $3,245 (residency application) + $3,222 (citizenship) +$175 (passport issuance) = $6,642 plus incorporation fees for a Dominican company
  • Citizenship and second passport
  • Visa-free travel to over 50 countries
  • Right to reside on the island


The process is very similar to obtaining regular residency. The only difference is that you will need to obtain a Certificate of Investment from the Dominican Republic for a value of $200,000, which can be obtained with a fixed deposit in a Dominican bank, and following a process with The Center for Export and Investments of the Dominican Republic (CEI-RD).


Life in Dominica

About
The Dominican Republic is a sovereign state occupying the eastern two-thirds of the island of Hispaniola, in the Greater Antilles archipelago in the Caribbean region. Christopher Columbus landed on the island on December 5, 1492; it became the site of the first permanent European settlement in the Americas, and is now the most visited destination in the Caribbean. The landscape is rugged highlands and mountains interspersed with fertile valleys.

People
The population is approximately 10.6 million. The people of the Dominican Republic are 73% of racially mixed origin, 16% White, and 11% Black, and are 95% Christian.

Language
The official language of the Dominican Republic is Spanish. Haitian Creole is the largest minority language and is spoken by Haitian immigrants and their descendants.

Climate
The Dominican Republic is a tropical, maritime nation. Due to its diverse topography, its climate is the most varied of all the Antilles. The annual average temperature is 25°C (77°F). At higher elevations the temperature averages 18 C (64.4°F) while near sea level the average temperature is 28°C (82.4°F).

Capital
Santo Domingo is the capital and largest city in the Dominican Republic and the largest city in the Caribbean by population. The population is 1.5 million, and 3.9 million when its metropolitan area is included. The city is the oldest continuously inhabited European settlement in the Americas, and was the first seat of Spanish colonial rule in the New World. Santo Domingo is the cultural, financial, political, commercial and industrial center of the country. The city's Colonial Zone was declared as a World Heritage Site by UNESCO.

Time
Atlantic Standard Time UTC-4:00.

Economy
The Dominican Republic is the largest economy in the Caribbean and Central American region. It is an upper middle-income developing country, with a GDP per capita of approximately $13,000. Over the last two decades, the Dominican Republic has had one of the fastest economies in the Americas, with an average real GDP growth rate of 5.4% between 1992 and 2014. GDP growth in 2014 and 2015 reached 7.3 and 7.0%, respectively, the highest in the Western Hemisphere. During the last three decades, the Dominican economy, formerly dependent on the export of agricultural commodities (mainly sugar, cocoa and coffee), has transitioned to a diversified mix of tourism, services, manufacturing, agriculture, mining, and trade. The Dominican peso is the national currency, with the United States dollar, the Canadian dollar, and euros accepted in and around tourist zones.

How to get there?
There are direct flights to and from the Dominican Republic from the United States, Cuba, Canada, Mexico, Venezuela, Colombia, Argentina, Brazil, Europe, and the Caribbean.

Will I be liable to any taxes in the Dominican Republic?
All income derived from work or business activities in the Dominican Republic is taxable, no matter if the person is a Dominican, a resident foreigner or a non-resident foreigner.