Thoughts on Dominican Republic?

[wellington]

Considering longer term (lived on islands now for a long time - usually connected by bridges etc to mainland with their own airfields etc).

Never been to DR, but thinking about the future (wife with two little ones) - education etc.

DR gives me a bit of what i have already, but is a switch from Asian to Western (if anything like the bahamas etc).

It's bigger than little caymans (which did appeal) though less civilised from what i see than Barbados.

Only issue not so sure on young education (older private boarding europe/us/asia)

Its (IMO) safe spot for any conflict(s) in the future.

Not one hundred % on citizenship after so many years (possible?) i know you can buy.

 

[Simon4466]

What made you decide on the DR over Barbados? The latter is outside of the hurricane belt, seems to have less crime and - in your words - more civilized people.

 

[JohnnyDoe]

Territorial taxation, great variety of landscapes and climates, great food and low cost of life. If you don't mind being a gringo, it's a nice place to be.
Citizenship can be obtained, realistically, after 7 years of residence.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[saintjohnny]

It's great. I'm a citizen by birth. While I would not live in Santo Domingo... the rest is amazing. Feel free to AMA via TG. Ideologically speaking, DR is a free country, pro-business, pro-money. While it's true that the people are not "very civilized", they are the kind that will revolt against tyranny, and won't take authoritarian, anti business BS from government. Regarding education, I studied in a top tier school that enabled me to go to uni in the US. There are many.

 

[bonox]

DR may be as good as the Bahamas and other Islands for instant in the Caribbean.

 

[RealDude]

JohnnyDoe said:
Territorial taxation
Click to expand...

Source?

 

[JohnnyDoe]

RealDude said:
Source?
Click to expand...

https://taxsummaries.pwc.com/dominican-republic/individual/taxes-on-personal-income

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Marzio]

JohnnyDoe said:
If you don't mind being a gringo, it's a nice place to be.
Click to expand...

If you don't mind about DR crime rates than yes, it could be a nice place to be.

 

[RealDude]

JohnnyDoe said:
https://taxsummaries.pwc.com/dominican-republic/individual/taxes-on-personal-income
Click to expand...

”žIn the case of individuals who become residents, this foreign-source income is taxed only after the third year.“

When do you become a resident?

marzio said:
If you don't mind about DR crime rates than yes, it could be a nice place to be.
Click to expand...

U.S. State Department: “The wide availability of weapons, the use and trade of illicit drugs, and a weak criminal justice system contribute to the high level of criminality [in the Dominican Republic].”

”žIt's also worth noting that the Dominican Republic's risk of natural disasters is higher than in many other places, and the nation is susceptible to environmental calamity, including hurricanes, tropical storms and depressions, earthquakes, floods, droughts, and other forms of extreme weather. Hurricanes, in particular, are frequent, and many Dominican buildings are not erected to code.“

Last edited: Oct 19, 2022

 

[JohnnyDoe]

marzio said:
If you don't mind about DR crime rates than yes, it could be a nice place to be.
Click to expand...

It's as safe as any other normal country. Just avoid those places where you have no good reason to go and don't get into arguments with locals.

RealDude said:
”žIn the case of individuals who become residents, this foreign-source income is taxed only after the third year.“

When do you become a resident?
Click to expand...

When you have a residence permit

RealDude said:
U.S. State Department: “The wide availability of weapons, the use and trade of illicit drugs, and a weak criminal justice system contribute to the high level of criminality [in the Dominican Republic].”

”žIt's also worth noting that the Dominican Republic's risk of natural disasters is higher than in many other places, and the nation is susceptible to environmental calamity, including hurricanes, tropical storms and depressions, earthquakes, floods, droughts, and other forms of extreme weather. Hurricanes, in particular, are frequent, and many Dominican buildings are not erected to code.“
Click to expand...

The guy who wrote this has never been in the DR. Or made confusion with Florida.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Marzio]

RealDude said:
When do you become a resident?
Click to expand...

JohnnyDoe said:
When you have a residence permit
Click to expand...

...and when you stay 182+ days in year

https://taxsummaries.pwc.com/dominican-republic/individual/residence

 

[RealDude]

marzio said:
...and when you stay 182+ days in year
Click to expand...

that doesn't make it very attractive?

 

[JohnnyDoe]

marzio said:
...and when you stay 182+ days in year

https://taxsummaries.pwc.com/dominican-republic/individual/residence
Click to expand...

There are no minimum stay requirements for keeping your residence. The 182 days rule is the usual general one that applies to those who don't have a permit.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Marzio]

JohnnyDoe said:
The 182 days rule is the usual general one that applies to those who don't have a permit.
Click to expand...

Really? I thought only after gaining citizenship a person could escape the 182 days rule.

 

[JohnnyDoe]

marzio said:
Really? I thought only after gaining citizenship a person could escape the 182 days rule.
Click to expand...

Yes really. Once you have your permit you can stay out of the country as long as you want. They check how long you remain if you don't have a permit, and if you overstay you must pay a (small) fine for each day.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Marzio]

Johnny so why don't you relocate there?

Plenty of nature, territorial taxation, no minimum stay requirements, what's wrong with DR?

 

[void]

marzio said:
Johnny so why don't you relocate there?

Plenty of nature, territorial taxation, no minimum stay requirements, what's wrong with DR?
Click to expand...

I guess it's about the GRINGO syndrome that disqualifies all the other sensible options as well 😀

 

[JohnnyDoe]

void said:
I guess it's about the GRINGO syndrome that disqualifies all the other sensible options as well 😀
Click to expand...

Exactly. Even though I'm a citizen (after many years of residence), I remain a white gringo, which has also some pros btw.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Marzio]

The only place where you would not feel as a white gringo is in Bad Ragaz!

 

[crypto7figs]

interesting thread. anyone have ever tried RD?