Investments Residencies in the Dominican Republic
The approach of granting residency to foreign investors is a common strategy to attract investment and stimulate economic growth. In the Dominican Republic, this has advantages such as attracting foreign capital, simplifying processes, and generating employment and development. However, it has disadvantages, such as the potential lack of control that could facilitate illicit activities, the risk of increasing inequality by favoring high net worth investors, the dependence on foreign investment that can be volatile, and the pressure on resources and infrastructure if not properly managed.
Residence Visa for Investment
The residence visa for investment is a type of visa granted to foreigners who wish to reside in a specific country, in this case, the Dominican Republic, for the purpose of making economic investments in the country. In the Dominican Republic, this type of visa allows foreign investors to live in the country for a determined period while making significant investments that benefit the local economy.
The requirements to apply for a Resident Visa for Investment in the Dominican Republic are as follows:
– Visa Form duly completed, available at the consular offices or at the service portal.
– Visa application letter addressed to the corresponding consular office, including personal information of the applicant, such as name, nationality, place of residence and details about his/her productive activity as an investor in the country.
– A 4 x 5-centimeter photograph, with white background and the applicant facing forward.
– Original passport with a minimum validity of six months.
– Legible photocopy of the Residence Card, if applicable.
– Birth Certificate, which must be submitted in original and be duly legalized or apostilled, as applicable. If it is in a language other than Spanish, it must be translated by a court interpreter and legalized by the Consulate of the Dominican Republic or apostilled, as appropriate.
– Certificate of No Criminal Record, issued by the competent authority of the countries in which the applicant has resided in the last 5 years, duly legalized or apostilled, as appropriate.
– Medical Certification showing that the applicant does not have any infectious or contagious diseases.
– Investor’s Certificate issued by the Center of Export and Investment of the Dominican Republic (CEI-RD), specific for the type of investment made (direct, in free zones, border development projects or tourism).
– Dominican visas and visas from other countries, both current and expired.
– Documents that demonstrate the economic solvency of the applicant, such as bank letters of savings accounts, checking accounts, bank certificates, real estate titles, vehicle registration, among others.
– Interview: The Ministry of Foreign Affairs reserves the right to summon the applicant for an interview with a consular officer.
Investment Residency for foreign managerial and/or technical personnel
It is the Dominican Residence for one year is granted to individuals who occupy managerial or technical positions in a foreign company. This permit is identified by a gray Temporary Residence Card and is valid for one year. To obtain such Residence, the Applicant must provide the following documents:
– Application Form for Residence by Investment: It must be completed by the company and signed by an official accredited by the foreign investment company. Three originals are required.
– Letter from the Authorized Company: The company must submit a letter requesting the inclusion of foreign managerial or technical personnel in the investment residency program. Details of the employee, position, salary, and justification for inclusion must be provided.
– Employment Contract: This contract must be registered at the Ministry of Labor, notarized, and visaed at the Attorney General’s Office of the Dominican Republic. If employees are hired abroad and transferred to work in the Dominican Republic, copies of the employment contract must be provided, apostilled, and translated into Spanish, along with the letter of appointment.
– Certified Proof: A certified proof is required from the corresponding institution according to the regime the investment is under.
– Copy of Passport: A copy of the passport with a minimum validity of six months must be provided. If the name in the passport is different from the one in the birth certificate, documents supporting the change must be submitted.
– Business Visa for Labor Purposes (NM1): Must have a valid business visa for labor purposes issued by the Dominican consulate in their country of origin or residence.
– Medical Examinations: Medical examinations must be performed within three days of payment by institutions authorized by the DGM (Dirección General de Migración).
– Birth Certificate: The birth certificate must be duly apostilled or legalized and translated into Spanish if it is in another language. If the foreigner has acquired a different nationality, a copy of the naturalization certified by the naturalization department must be provided.
– Certificate of No Criminal Record: It must be issued by the competent authority of the country where he/she has resided in the last five years. If you are from a country other than your country of origin, you must back it up with an identity document from the country where you resided.
– Photographs: Four (4) recent photographs of the same set, size 2×2, two (2) front and two (2) right profile, without jewelry or accessories, with white background, are required.
– Guarantee Policy: A guarantee policy must be contracted with ARS Reservas.
– Special Power of Attorney: The company must grant a special power of attorney to a Dominican executive or permanent resident.
– Additional Medical Examinations: Medical examinations must be performed within three days of payment by institutions authorized by the DGM.
– Repatriation Policy: Must include a repatriation policy, as established in regulation 631-11 for the migration law.
Investment Residence as a Retiree or Pensioner
This is the category of residence in the Dominican Republic granted to foreign pensioners or retirees for a period of one year. The corresponding temporary residence card is gray in color and is valid for one year. To obtain this residency, the applicant must provide the following documents:
– Online Application Form through the DGM service portal.
– Copy of passport with a minimum validity of six months. If there are name differences from the birth certificate, legal documents supporting the change, such as marriage or divorce certificates, apostilled, must be provided.
– Residency Visa (RS) issued by the Dominican consulate in the country of origin or residence.
– Original receipt of payment for the required medical exams.
– Necessary documents for the medical exams:
– Original passport.
– Two copies of the passport information sheet, residence visa, last entry stamped in the passport and birth certificate.
– Original birth certificate duly apostilled or legalized, as appropriate. In case of acquisition of another nationality or change of name, the corresponding documents, apostilled, must be submitted.
– Certificate of no criminal record issued by the competent authority of the country where he/she has resided in the last five years, duly legalized or apostilled, supported by a personal identity document if the country is different from the country of origin.
– Four recent 2×2 inches photographs, two front and two right profile, without accessories and with white background.
– Certification of the government, official organism, or private company of foreign origin where he/she rendered services, translated into Spanish by a judicial interpreter, with apostille stamp or legalized by the Dominican consulate. It must include general data of the applicant, time in the company, position and amount of the pension, and confirmation that he/she can maintain the amount for at least five years.
– The pension must be at least US$1,500 per month or its equivalent in Dominican pesos, with an additional US$250 for each direct dependent.
– Salary income does not apply in any case.
– Guarantee policy contracted with ARS Reservas, including dependents (spouse and children).
– Letter from a bank confirming that you have a bank account in a Dominican bank.
– Any other document that the Foreign Investment Window of the Department of Foreigners of the General Direction of Migration may require to verify the authenticity of the alleged quality, according to the stipulated in the law No. 171-07 on pensioners and foreign annuitants.
Residence by Investment as an Annuitant
The residence permit for foreigners as rentista is granted to those individuals who come to the Dominican Republic with the purpose of establishing their residence in the country. This type of permit is directed to any foreigner who can demonstrate a constant monthly income or rent of at least two thousand dollars (US$2,000.00), coming from a company or organization abroad. To obtain such Residence, the Applicant must provide the following documents:
– Passport with a minimum validity of 6 months, according to regulation 631-11.
– Residency Visa (RS).
– Inextensive Birth Certificate, apostilled or legalized as appropriate.
– Two recent photographs of 2×2 inches, front view, without jewelry or accessories, with ears uncovered and white background.
– Certificate of No Criminal Record from your country of origin or the country where you have resided in the last five years.
– Certified proof of the origin of the income or rent.
– Bank certification from a Dominican bank.
– Marriage certificate, declaration of bachelorhood or proof of cohabitation, apostilled or legalized.
– Guarantee policy contracted with ARS Reservas.
– Medical exams made in one of the institutions authorized by the DGM (Dirección General de Migración).
Permanent Residence as an Investor
In the case of foreign investors, either with or without direct investments exceeding US$200,000.00 in capital, they have the option to apply directly for the Residency by Investment. This is considered to facilitate foreign investment in the Dominican Republic; the Dominican Government has presented a simple and fast process, through which the foreign investor obtains his Residency for Investment in the Dominican Republic. The requirements to apply for this permit are the following:
– Passport with a minimum validity of six (6) months. According to the application regulation 631-11.
– Residence Visa (RS).
– Letter of Incorporation to the Foreign Investment Program.
– Certified Certificate of Foreign Investment.
– Inextensive Birth Certificate, original.
– Four (4) recent photographs of the same set, size 2×2: two (2) from the front (2) two of the right profile, without jewelry or accessories and ears uncovered with white background.
– Certificate of No Criminal Record from your country of origin or the country where you have resided in the last five (5) years.
– Marriage certificate, declaration of bachelorhood or proof of cohabitation, apostilled or legalized.
– Guarantee policy contracted with ARS Reservas.
– Medical exams, in one of the institutions authorized by the DGM.