Dominican Republic ~ Residence for Retired Pensioners
Time to Permanent Residency: 0 Year ~ Time to Citizenship: 2 Years
The Residency by Investment program of the Dominican Republic is a legal privilege under the General Immigration Act and its regulations, and the Foreign Investment Act. It exempts a foreign national from the procedure of obtaining temporary residence.
The program may allow you to obtain an instant permanent residence permit by investing in movable or immovable property or bringing your regular passive income or pension to the country.
Permanent Residency must be renewed 1 year after its issuance. The other renewals must be made every 4 years.
Through the program, after 2 years of permanent residency you may be eligible for naturalization, provided that investment/income requirements are still met.
To become a citizen, you will have to be fluent in Spanish, as you are going to attend an interview with an official, where you will state the reasons why you want to be a Dominican citizen, while your knowledge about the country’s values, traditions and culture, and your Spanish skills will also be tested.
Although there is no official physical residence requirement, it is recommended to spend significant periods of time in the country prior to naturalization, and to prove some ties to the country.
Investment
Retired Pensioner Stream
You may obtain your permanent residence in the Dominican Republic if you can prove that you receive a retirement pension from a foreign government, official institution, private company or financial institution of an amount of at least US$1,500 and you are able to transfer it to a local bank. There is no minimum age to be eligible for the program.
For each dependent, an additional amount of US$250 is required.
To renew the permanent residence permit and/or apply for naturalization, you must prove that a minimum US$1,500 monthly pension has been transferred to a local bank.
Requirements
– Do not suffer from a contagious disease or a mental illness that alters your behavior.
– Clean Criminal record.
– Letter signed before a notary by a Dominican or permanent resident alien in the Dominican Republic that guarantees that you will at no time be a charge for the Dominican State. In addition to the expenses of repatriation and others, if necessary, evidence of an insurance policy. This guarantee must include any dependents too.
– Bank letter stating that you have a bank account at a Dominican bank.
– Receipt of foreign currency income to the country and original certification of the receiving bank in the Dominican Republic.
– Certificate from a foreign government, official institution, private company or financial institution that you receive a lifetime pension of at least US$1,500.
Documents Required
Certified copy of passport- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Original Police Clearance Certificate
- Evidence of Health Insurance
- Medical Certificate
- Nine passport-size photos
- Bank Statement
- Original Bank Reference Letter (Not older than 6 month)
- Proof of pension
- Affidavit of support for Dependents
