Considering relocating to another country? or second citizenship options? We think the Samana Peninsula in the Dominican Republic may be the place for you! You may not have realized, but this is no small Caribbean nation! We boast a population of about 8.5 Million happily smiling souls. We are located just 3 and ½ hours by plane from New York and a 90 minutes hop/skip/and jump from Miami/Ft Lauderdale. There are many airports to choose from including our newest International Airport at El Catay. This modern beauty was built specifically to service our beautiful Samana Peninsula on the north coast. Samana has been specifically hand-picked by the Dominican Government to become “The Jeweled Showcase of the Caribbean.”
I can think of tons of reasons to choose the Dominican Republic as your place to be. I’m going to share these with you too! But one of the many reasons people seek out the Dominican Republic for residency and dual citizenship opportunities is because of its quick, simple, easy, and most of all welcoming procedures for procuring both legal residency and eventual citizenship as well.
Now I’m a Realtor. I work with DR Paradise Realty. We’re located in Las Terrenas on the Samana Peninsula. Remember that “Jeweled Showcase” I was speaking of earlier? Well, if the Samana Peninsula is the “Showcase”, then by all facets (pun intended ;o)) of your sparkling (too far?) imagination, Las Terrenas is the Crown Jewel in that showcase! This may not be the best forum for specifically identifying Las Terrenas as the perfect place to be (it is though!) but I couldn’t resist just a small plug for our special spot in the brilliant Dominican Republic sun. Hey, it could easily become your special spot as well!
Have you ever looked into buying Real Estate in the Caribbean? Places like the Bahamas, Bermuda, St. Martin, Aruba, Turks & Caicos Islands, etc? How about Costa Rica or Panama? We’re 10 years behind their pricing! But it won’t last long! There is a great steady heat here in the Dominican Republic Real Estate Market. Prices are climbing upward every day. In comparison, if you have ever attempted to shop for real estate in some of the other Caribbean Islands and countries, you will quickly realize what a bargain this is.
Did you know that bank account interest is Tax-Free for residents and non-residents alike. Please take a look at some of the typical Short-term CD rates being offered….
Here is the link that shows you on the Central Bank´s website, but here are the rates: http://www.bancentral.gov.do/english/investment_instruments.asp
What this means is that your dream of an early retirement income derived from banking investments is actually a do-able thing here! If you have some liquid cash, you can actually live off your interest. Did you know you can live here, quite comfortably on as little as $2,000 per month? Heck, my Social Security checks will cover most of that!
Yes, some things are expensive…gas is not cheap and prices for food in the grocery stores can surprise you. But you quickly learn what, where, and how to make smart purchases. For instance, my haircut in Las Terrenas this week, with tip, with razor trimming and probably 40 minutes of TLC in the chair was only about $4 US! Also, labor is really cheap, real estate is really cheap, the sand and the beach and the sun and the stars and the warm friendly people are cheap too…in fact, those last five things are all free!
Tomorrow, I will write more about the reasons people would want to obtain residency and/or Citizenship (passport) status. Just exactly what are the benefits? Are there any downsides? Then on Thursday, I will Outline the actual step-by-step process for doing so.
Until then, I have enjoyed sharing one of my many passions, the stunningly gorgeous Dominican Republic with you and I look forward to sharing again tomorrow!
Your friend in the DR,
DR Paradise Realty