How to obtain the rentista visa in Dominican Republic?

There are different formulas for those who wish to retire in the Dominican Republic. At the beginning you will have to apply for a visa, and it is usually best to choose the one that best suits your situation according to your income.

Obtaining a visa is relatively easy for most foreigners who are planning their future in one of the best places in the Caribbean, both in terms of price and legal conditions, to enjoy the Caribbean. better quality of life.

Previously we told you about how to obtain the investor visawhich can be the ideal way to obtain residency for those who are going to do an internship. real estate investment that meets certain requirements.

Today we are going to tell you about another of the possibilities you have for apply for your visa in Dominican RepublicThe first step is to obtain an annuitant visa, which can be a very good possibility for those who receive a pension, dividends or interest from abroad, even if you have not yet purchased an apartment.

What is the rentista visa in the Dominican Republic?

The annuitant visa in the Dominican Republic is a type of visa that is granted to foreigners who can demonstrate that they receive passive income or regular income from another country, so they do not need to work to earn income.

This is the case, for example, of any person who receives a retirement pension, or receive income from dividends, bank interest or rents of other properties located in countries other than the Dominican Republic.

What are the requirements to obtain an annuitant visa?

To be eligible for this visa, you must have a regular income of $2000 USD per month.

In addition, you need a certificate or letter from the foreign institution from which your income originates to prove the continuity of such income.

On the other hand, to apply for this type of visa you also need a valid passport with at least 6 months of validity and a certificate of no criminal record.

In addition, you must submit the application form, 4 recent passport-type photographs and a valid health insurance to cover your expenses in the Dominican Republic.

Advantages of the Dominican Republic visa for renting a car in the Dominican Republic

There are a number of benefits that make it worthwhile for an annuitant to apply for this type of visa if he/she wants to reside in the Dominican Republic.

1. You can live in the Dominican Republic without having to work.

You don't need find a job in Dominican Republic if you are able to prove that you receive monthly income from a pension, or from interest or rents.

However, if you want to do so, you can do paid work, and this will be subject to taxes, but it would not be a problem for you to continue receiving your pension in your country.

2. You have an easier time applying for permanent residency

This visa allows you to apply for a permanent visa one year has elapsed since you have been living in the Dominican Republic on a rentista visa.

In addition, the residency application process is simple and fast, so you will save a lot of time on paperwork.

3. 50% IPI exemption on your first home.

As a renter you will enjoy a 50% Real Estate Tax Exemption if you buy a home.

However, we must inform you of a benefit that is even more attractive, whether you are a renter or not. And it is that if the apartment is considered as a tourist apartment under the benefits of the Confotur Lawwould be exempted from the IPI for 15 years, so you would only start paying the 50% IPI after 15 years.

4. Tax exemption on dividends and interest

Not only those who receive a pension from abroad can apply for an annuitant visa, but also those who have a pension from abroad. dividends and interest that exceed the minimum amount.

In this case, you must be clear that you will be exempt from taxes levied on the payment of dividends and interest.

5. Your spouse has the same benefits

The tax benefits obtained by annuitants are also imputed to their spouses. Even in the event of your death, the rights you had are awarded to your spouse, in accordance with the Law No. 171-07, on Special Incentives to foreign source Pensioners and Annuitants.

This is a great advantage for those who plan to move to the Dominican Republic with their spouse, which brings the same benefits to your estate.

Are you a renter thinking of moving to the Dominican Republic? We invite you to consider our real estate opportunities for buy luxury properties in Punta Cana in some of the best areas.