 |
|
/ Residence |
| |
Legal residence in the Dominican Republic is an official procedure that grants foreigners living in the country a handful of facilities and benefits that make it worth the time and effort invested. After the residence card has been issued foreigners can:
Benefits
· Bring in household items tax free. Refer to customs regulations for additional information
· Work legally and do business
· Apply for credit cards and bank loans
· Law protects and frees legal residents from certain taxes, bonds and fines. For instance, in case of inheritance, if the beneficiary is a non-resident then he/she has to pay 50% surcharge on estate taxes.
· For tax purpose, any person residing in the country for more than six months is considered a resident and has to pay taxes, anyways.
There are of course some responsibilities that come with the resident status, like paying government income tax. Art. 269 states that after three years of legal residence in the country foreigners receiving income from financial investments like certificates of deposits, stocks and bonds, etc. must pay taxes in the Dominican Republic on their income from those investments. However, pensions and Social Security benefits are exempt.
The process of becoming a legal resident
Duration
The entire process may take over a year and a half divided in three different stages (residence visa, provisional residence card and then the permanent residence card) It is highly recommended to hire a Dominican migration lawyer.
Keep in mind
· It is also possible to apply at select consulates abroad. All foreign documents need to be legalized at the Dominican consulate nearest to the jurisdiction of the applicant. All documents, with the exception of the passport and application letter, need to be presented in an original and four copies.
· There are documents and taxes that have to be paid for this procedure. Please contact our Relocation Department for further assistance.
|
