How to retire in the Dominican Republic

Do you dream of spending your retirement on a sunny Caribbean beach with a cool drink in hand? There are many alternatives, but one that you may want to consider is the Dominican Republic. From affordable housing to adventurous activities, this Caribbean island nation seems to have something for every retiree. Additionally, their expat laws favor Americans looking to retire there. Retiring abroad can help you extend your retirement savings, and a financial advisor can help you stretch your nest egg further. Cost of Living and Housing in the Dominican Republic Housing in the Dominican Republic is very affordable. For example, the average cost of a one-bedroom apartment in a city center in the U.S. costs $1,376 per month, but only costs $400 per month in the Dominican Republic. If you prefer to purchase an apartment or home there, the average cost per square foot of an apartment in a city center in the U.S. is $330, but in the Dominican Republic is $120. If you want to live even more frugally, you can purchase or rent a home outside of the city center or a bit farther from the beach. Safety in the Dominican Republic While the Dominican Republic is a beautiful place to retire, there are many safety concerns in the country.The development of a professional tourist police corps, institution of a 911 system in many parts of the country and a concentration of resources in resort areas means these tend to be better policed than urban areas like Santo Domingo, the State Department says. Getting a Visa in the Dominican Republic If you want to retire in the Dominican Republic, you will need to get a visa to stay in the country. Fortunately, it is relatively quick and easy to get a retirement visa. The Dominican Republic offers a pensionado, or a retirement visa. You can enter the Dominican Republic on a standard tourist visa, then apply for a retirement visa while in the country. The process can take several months, and many people recommend hiring a local lawyer to help you get all your paperwork in order. You will need to show proof that you have an income of at least $1,500 per month and other documents, including your birth certificate and a background check. Healthcare in the Dominican Republic The Dominican Republic has a three-tier healthcare system. The first tier, which is paid by the government, guarantees free, socialized healthcare for citizens. However, most people end up paying out-of-pocket for medical supplies and various services regardless of which tier they have access to. The second tier, known as the contributive tier, is paid for by employers and their employees. The third tier of healthcare, known as the contributive subsidized tier, is paid for by people whose income is greater than the national average and is also subsidized somewhat by the government. We are here to assist you find your next Real Estate Investment opportunity. The Dominican Republic is our backyard. Contact: Phone: (829) 645-6366 info@swecinvestments.com www.holasw.com

Comments

  1. Shamsul Alam25 March 2023 at 13:37

    Belize Real Estate & most of all Ambergris Caye Real Estate have seen a boom over recent years. Most of the buyers are people looking at living and/or investing overseas. This is seen by the growth in Belize real estate transactions over recent years.

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