< Magazine Index > < Index For This Edition > < Subscribe >

There are quite a number of people that either desire a Second Passport from a stable democratic country, or in the least know that they can gain some important benefits from the possession of a secondary travel document.  The problem for many is of course the expense and time involved.  In the case of countries like Belize or Grenada, an almost immediate passport is possible through special economic citizenship programs.  However, with costs reaching up to US$ 50,000, the price tag is prohibitive for some people. One can also look at special residency programs from countries such as Panama, Ecuador and elsewhere.  While the expenses may be much lower than the figure mentioned previously, clients must often wait up to five years to obtain their passport.  The Dominican Republic - The Best Kept Secret in the Caribbean for Expatriates While the Dominican Republic does not offer formal economic citizenship programs, the process and cost involved for both residency and eventual naturalization makes it one of the best bargains around.  The Dominican Republic is also one of the best places in the Caribbean for bargain Caribbean Real Estate, Tax-Free Banking, and the added bonus of beautiful climate should your interests include a comfortable place to call home.  Being situated on the second largest Caribbean island (for those that want to explore the possibility of a second home), the country offers both the highest Caribbean mountain range ~ Pico Duarte, and miles of unspoiled beaches.  In short, this means that those people seeking either a cooler climate found in the lush mountain range or the endless summer lifestyle of a tropical beach can find what they want. In addition, the Dominican Republic does recognize dual citizenship.  This means that you do not have to renounce your current citizenship should you choose not to do so (contrary to what many people believe, current US citizens can obtain a second citizenship without jeopardizing their current US passport).

John Schroder has over 15 years experience on Wall Street and currently provides assistance regarding Investment information for the Dominican Republic including Residency, Passports, Real Estate, Apartment Referrals, and Company Representation. He lives in the Dominican Republic - Telephone:  (809) 334-5387 Cellular: 809-756-1917 On-Line Request For Information Expats Save on Calls From  Anywhere To Everywhere

The country also has a number of special "free-zones", allowing entrepreneurs or business owners to operate a business 100% free from any corporate income tax for up to twenty years.  This is in contrast to places like the Bahamas, which prohibits owners of a Bahamas IBC or "International Business Company" from owning real estate or operating a company within the Bahamas through the IBC structure. As a result, it is possible for individuals to live in the Dominican Republic and own property without restriction through a Dominican Incorporated "Offshore" Company. In addition you can enjoy tax-free bank account interest (up to 12% tax-free in US Dollars) and also may own and operate a business through a local Dominican Incorporated Company or other offshore company 100% free from corporate income tax.

Cafe Conde ~ Colonial Zone ~ Few places have more opportunities with less hassles than the Dominican Republic - It is a nation with low real estate prices and a loyal European tourist community. The beaches, mountains and countryside are magnificient!

The Process for Obtaining Residency and a Second Passport Clients would need to visit Santo Domingo in order to begin the residency process, but there is no requirement that clients remain in the country during the residency process.  In addition, there is no specific required minimum investment in the country in order to apply for residency.  Clients should bring with them at least 3 original or official copies of their birth certificate and a letter of good conduct from their local police department. The process would begin with a client's completion of a residency application.  In conjunction with this, we normally would also help the client form a Dominican Company as part of our service.  This is to help with both the residency process, and to provide the client with some additional tax savings & asset protection benefits.

The client is also required to take a local medical examination.  This is fairly quick and painless process.  The reason of course is that the government wants to make sure prospective applicants do not have TB or AIDS, a valid health concern for any country.

Within 90 days of the initial application, clients would receive a special card from Immigration, which is dated for 6 months.  At this point, clients have the legal right to both live and work in the country, should they choose to do so.  Unlike in Panama, where the initial temporary residency card must be turned in to immigration should the client wish to travel, this first Immigration card obtained from the Dominican Republic is kept by the client at all times.  Clients may exit and enter the country at will.

Within six months thereafter, the client would obtain their "Cedula", indicating that they now have provisional permanent residency.  This card is what all Dominicans receive at the age of majority (18 years of age), and provides for all of the rights and privileges of any other Dominican, with the exception of the right to vote in local elections. The right to vote comes when the client is naturalized as a citizen.

The initial Cedula carries a one-year expiration, and must be renewed after the first year expires. Upon completion of the second year, the client may then move forward with the naturalization process (citizenship) and application for a Dominican Passport.

What is the cost involved?  Much less than half of the costs required by other programs, and in fact a much easier process as well.  In short, clients have the opportunity to pursue second citizenship from a stable democratic country, at a cost that is downright inexpensive in comparison to some other programs.  In addition, should someone wish to retire, live or perhaps start a business in the Dominican Republic, there are a number of attributes that make this country one of the best places for relocation as well.  When you also consider the additional investment or tax-free banking opportunities, this wonderful island nation is ideal place to call home.

For additional information about how you can benefit from Dominican Republic residency or a second passport, tax-free banking or the formation of an offshore company, please contact Mr. John Schroder at (809) 334-5387 or (809) 293-9427.  You may also send an email to info@ascotadvisory.com - or request information on-line - On-Line Request For Information  -