The Investment Residence or for Retirees procedure is a Dominican immigration permit available for foreigners, employees, and company executives that have a registered investment in the country as stated in Law 16-95 on Foreign Investment. This residence permit also applies for retirees or passive investors as stated in the new Law 171-07 which grants these individuals special incentives.
During the Investment Residence or for Retirees application process, the applicant must travel twice to the Dominican Republic. During the first trip a simple medical exam will be done and during the second trip the applicant must pick-up the residence card through our VIP service.
Once your residence permit has been issued you will also receive a Dominican ID card, also known as Cédula. The Investment Residence or for Retirees is granted in only 45 business days and is valid for 1 year. After the permit expires, this residence is renewable for 2 years by the General Immigration Department.
The following can apply for an Investment Residence or for Retirees:
- Direct Investors: Employees or owners of companies operating in the Dominican Republic with an investment of foreign source of a minimum of US$200,000. This investment must be registered in the Center for Export and Investments of the Dominican Republic (CEI-RD).
- Companies that operate under the Free Zones Regime
- Employees or owners of Companies Hired by the Executive Power
- The companies linked to Specific Incentive Legal Regime
- Retirees or Passive Investors: Retired individuals who desire to reside and invest in the Dominican Republic. Passive Investors are those that enjoy permanent and stable income of foreign source that also wish to reside and invest in our country.
“This service is only available to those individuals who register under the name and identity of the person who will be requesting the document or legal service.”
Legal Fee: US$1,600.00
REQUIRED DOCUMENTS:
1. Complete passport copy of the applicant.
2. Original birth certificate legalized in the Dominican Consulate where the document was issued. If document is not in Spanish we will proceed to translate.
3. Original employment agreements legalized by the Secretary of State for Work. Does not apply for retirees and passive investors.
4. Copy of the company’s list of employees. Does not apply for retirees and passive investors.
5. Employment letter in Spanish specifying the employees position, salary and entry date. Does not apply for retirees and passive investors.
6. Foreign Investor: Original certificate issued by the CEI-RD (Center of Export and Investment of the Dominican Republic) certifying the US$200,000 minimum investment.
7. Free Zone Regime: Certification issued by the National Council of Free Zones certifying the company operates under this regime.
8. Foreign Companies Hired by the Executive Power: Original document of approval by the Executive Power, National Congress, decree that authorizes to operate or project financing agreement.
9. Retirees or Passive Investors:
Retirees: Certificate from the foreign government, official institution or private company where applicant was employed certifying that he/she receives monthly income of at least US$1,500. If the monthly income does not reach the minimum, you can complete the requirement with a bank letter that certifies additional income. These documents must be legalized by the Dominican Consulate in the applicant’s country.
Passive Investors:
Income Agreement certifying the applicant receives permanent income of a minimum of US$2,000 for more than 5 years and must have remittance receipts of money sent to the Dominican Republic for 5 years as well. If the monthly income does not reach the minimum, you can complete the requirement with a bank letter that certifies additional income. These documents must be legalized by the Dominican Consulate in the applicant’s country.
eLexPersona.com’s total legal fee for the Investment Residence or for Retirees service includes the payment of the corresponding fines if you have been in the country for more than 3 months without a valid residence permit. If you have exceeded the 3 month limit, the difference of fees will be charged separately.
Frequently Asked Questions
1. How many times must I travel to the Dominican Republic during the Investment Residence application process?
You must travel twice, first to get a medical exam done by the General Immigration Department and second to pick- up the residence card.
2. How long does it take to obtain my Investment Residence permit?
The Foreign Investment Department at the General Immigration Department issues the residence card in 45 business days.
3. Do I have to pay for immigration taxes?
Yes, immigration taxes are paid based on the applicant’s last entrance to the country. eLexPersona.com’s total legal fee for the Provisional Residence service includes the payment of the corresponding fines if you have been in the country for more than 3 months without a valid residence permit. If you have exceeded the 3 month limit, the difference of fees will be charged separately.
4. What should I do if there is no Dominican Consulate in my country?
You should travel to the nearest Dominican Consulate. If documents, issued or signed abroad, are not legalized by a Dominican Consulate, the documents will not be valid in our country.
5. How long is the Investment Residence valid?
The Investment Residence Card of is valid for 1 year. When you renew your Investment Residence it will be valid for 2 more years.