Investor Residency Status

GordandNancy

Active member

Member since 14 April 2012

GordandNancy

18 February 2013 18:59:02

GordandNancy

18 February 2013 18:59:02

Hi,

Understanding there are various forms of residency I've been reading a little about the investor residency status vs. retiree for example.

I recall seeing that if you invest min $200K USD in the DR you can get this status and that the investment does not need to be in real estate or business...it can be a term deposit (i.e. CD at a bank - 30/60/90) or other short term paper.

I've also read that if you plan on living there it might be best to have the interest paid in Dom Pesos.

So...question is...for two people (my wife and I) to obtain this type of residency how much USD$ would we have to invest in short-term paper/CDs in order to qualify?

Ex. if we "bought" $250K worth of short term paper that is about $10M Dom Pesos...if the rate is 8%/month that means about $67K Dom Pesos/month (and I understand that to be tax free?)...$67K Peso/mth = about $1600USD...is that enough?

Thanks

planner

Dominican Republic Expert

Member since 28 December 2010

Santo Domingo

Dominican Republic Expert

planner

18 February 2013 21:56:32

16621

planner

18 February 2013 21:56:32

16621

Santo Domingo

I understand that 200K is the amount to be invested, but I had not heard that it could be in short term paper. Let me try to find out for you. I believe that will cover you as a couple but again I need to confirm.

As to US 1,600 being a reasonable income for you - will depend completely on how you plan to live. For example living in Punta Cana, going to dinner constantly, golfing and boating - NOPE can't do it.

Living a simple life in a modest home or apartment, eating local as much as possible with no expensive hobbies - its very doable.

IF you owned your home and car then 1,600 gives a decent standard of living.