Can a Retired Foreigner Live and Invest in Real Estate in the Dominican Republic?

30 May, 2024

Can a Retired Foreigner Live and Invest in Real Estate in the Dominican Republic?

Punta Cana, Dominican Republic

Have you worked all your life dreaming of retiring comfortably and living where you vacation? In this article, I’ll explore the benefits of retiring in the Dominican Republic and the basic requirements for a foreign retiree to live, obtain residency, and invest in real estate here.

Living the Dream: Retirement and Investment in the Dominican Republic

Being a retiree doesn’t have to limit your potential to earn a second income. This paradise island offers a wide range of benefits and tax breaks for real estate investors. You can live the life you’ve always dreamed of while enjoying the perks of investing in this beautiful country.

Residency and Investment Opportunities

Yes, as a retiree living in the Dominican Republic, you can invest in real estate even if you haven’t acquired Dominican residency. However, obtaining residency as a retiree offers numerous benefits, and the process is straightforward. The Dominican Republic allows retirees who meet certain criteria to apply for residency as a pensioner.

Basic Requirements for Pensioner Residency

To apply for residency, a foreigner must:

  • Be the beneficiary of a minimum monthly pension of USD 1,500 from a government, official organization, or private company.

Pension benefits are not taxable in the Dominican Republic. However, all residents and taxpayers must pay tax on income from financial investments such as stocks, bonds, and certificates of deposit.

Investing in Real Estate

Foreign retirees can invest in real estate in the Dominican Republic, even without a residence permit. They are allowed to buy, sell, transfer, rent, and receive rental income. Once they obtain residency, the same conditions as Dominican nationals apply.

Additional Requirements for Residency

In addition to the minimum monthly USD 1,500 pension requirement, the Department of Immigration (DGM) lists additional documents and fees required for application and processing. Visit DGM’s website for more details.

Final Thoughts

This article is for reference and informational purposes. Information may have changed since the article was written, so it is always advisable to seek advice from a local immigration expert.

Contact us to learn more about how to invest in real estate in the Dominican Republic. Our goal as your Realtor is to help you find your dream home and make it an amazing experience.

If you’re interested in learning more, check out my article on the benefits of retiring in the Dominican Republic.

Also check out my article on Confotur and how it can benefit you

Author: Adys Sánchez
Tel: 849-652-3100