Dominican Republic Residency via Real Estate Investment

Dominican Republic Residency via Real Estate Investment

Your Perfect Villa

is waiting for you at casa linda

Did you know that you can apply for residency when you invest in the Dominican Republic? Below we’ll discuss the different options for obtaining a Dominican Republic Residency as an investor.

What is the difference between residency and citizenship?

One of the most common questions asked when investing in the Dominican Republic is whether the individual will receive residency, citizenship or tourist visa. Typically, visitors from the USA, Canada, EU and UK do not require a visitors visa to enter the DR as a tourist. As long as you have a valid passport and show proof of return travel, you can be granted a 30-day tourist visa.

For those unfamiliar with the process of residency and citizenship, it might be somewhat confusing to determine the difference between them. Generally speaking, citizenship enables you to apply for a passport and become an official citizen in the country, whereas obtaining residency is usually applying for a travel document that will enable you to travel to the country more freely and offer you a few benefits. When buying property in the Dominican Republic, you are considered an investor, which then allows you to apply for a Dominican Republic residency. Below are two ways to obtain a Dominican Republic Residency:

Option 1: Temporary Residency to Permanent Residency

If you intend to live in the Dominican Republic and shop around for villas, you can apply to the Migration Office for a “provisional residency” through a temporary residency permit at your local Dominican Consulate. This permit will allow you to reside in the Dominican Republic for a year, which will then permit you to apply for a permanent residency. It’s important to know that Permanent Residency Cards are valid for only two years and can be renewed at the Immigration Department for a range of periods.

Option 2: Investor Residency

As an investor in the Dominican Republic, you are eligible to apply and obtain a permanent residence by investing $200,000 USD in the DR. Instead of spending a year in the DR on a temporary residency and going through the process of applying for a permanent residency; you can invest in the DR and fast-track the application process. Most homeowners who have decided on moving to the DR apply for an investor residency to be able to visit their homes any time of the year. Rather than coming down every other month for 30-days, property owners prefer to closely follow up with the construction of their dream home.

Casa Linda Quality Communities

For over 40 years, Casa Linda has been home to many European, American and Canadian citizens. We have helped many couples move from the cold winter countries to the beautiful sunny Caribbean island throughout the years. Not only do we help homeowners plan their trips and design luxury villa, but we also provide them with all the help they need when applying for a residency. Casa Linda Quality Communities is not your average real estate company; we help our clients with the buying process, provide them with ex-pat support and information and offer them different options to rent their villa.

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What Are The Benefits of Gated Communities In The Dominican Republic?

What Are The Benefits of Gated Communities In The Dominican Republic?

Your Perfect Villa

is waiting for you at casa linda

When looking for properties to buy in the Dominican Republic, price is not the only factor to consider. As you’re moving miles away from home in a country you aren’t entirely familiar with, it’s always better to choose an area that provides a gated community. Read on to learn more about the benefits of a gated community and what to look for when moving into a new community in a foreign country. 

1. Familiar Faces

Living in the Caribbean has its perks, from the beautiful white sandy beaches and the exquisite cuisine to the exciting adventures, but it can also have downsides. When moving to the Caribbean, you will feel relaxed and refreshed in the beginning, but as time goes by, you might start yearning for the familiarity you felt back home. Even though everyone in the Dominican Republic is incredibly welcoming and overly generous, you might still feel homesick; however, when living in Casa Linda’s gated community, you will feel like you’ve never left home. 

Home is not the place where you grew up; home is where you are surrounded by people you love and care about. Since Casa Linda’s gated community has been home to all ex-pats for over 40 years, homeowners have the opportunity to create friendships, connections and bonds with people from all around the world. At Casa Linda, we facilitate a lifestyle where owners can partake in several activities and join a community that suits their interests and hobbies. 

2. Lock Up and Leave

Many owners in Casa Linda’s community feel safe in our gated community as they can simply lock up and leave anytime they want. Owners going out for a dip in the ocean early in the morning or meeting up with some friends for late-night drinks can lock up their villas and leave any time of day without worrying about the safety of their homes. Our gated community is one of the safest and most secure communities in the Dominican Republic as we make sure to always have surveillance and guards walking about day and night. Our gated security patrols the subdivision twenty-four hours a day to provide our residents with safety and peace of mind during their adventures. 

Our gated community also allows owners who stay in their luxury villas for a short period of time to leave their homes in safe hands while they’re travelling away for the majority of the year. You won’t have to ask your friends or family to drop by and make sure everything is okay, as our trained guards will ensure that your property is safe and monitored all year round. Enjoy a stress-free trip whenever you lock up and leave your home in Casa Linda’s gated community.

 3. Villa Management

International buyers can sometimes require special services when travelling away for a period of time, but not many communities can accommodate these requests. At Casa Linda Quality Communities, we have plenty of owners who visit their property for a month or two and leave for the rest of the year, which is why we offer many villa management services, including:

  • Housekeeping Services
  • Maintenance Services
  • Pool Services
  • Garden Services
  • Monthly Bill and Tax Payment

Our team is well equipped to provide you with the proper care and attention for your property and more than happy to accommodate any necessary villa management services you might have. Our fully staffed administration office is onsite, where you can contact the full-time Owner’s Liaison to assist you with all your requests.  

Join Casa Linda’s Community Today

Whether you’re a part-time visitor or a permanent resident, our gated community will always make you feel at home. You can check out our owner’s testimonial on their experience with Casa Linda’s gated community or contact us today to start your journey!

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Everything You Need to Know About Retiring in The Dominican Republic in 2022

Everything You Need to Know About Retiring in The Dominican Republic in 2022

Your Perfect Villa

is waiting for you at casa linda

Retiring by the sunny Caribbean beach is everyone’s dream, but is it doable? Read on to learn everything you need to know about how to retire in the Dominican Republic.

Will I Need to Apply For a Visa?

According to the Dominican Embassy in Canada, nationals from Canada, the United States of America, Great Britain and the European Union can enter the DR without a Dominican Visa in the case of tourism purposes. However, if you want to retire in the DR, you will have to apply for a visa to stay in the country. You can apply for a retirement visa while you’re in the DR, but the process is quite lengthy. Generally, the steps of applying for a residency visa are straightforward, but you do need to provide the proper documentation to support your application. If you want to obtain a residency visa, make sure to hire a local lawyer to help you get all your paperwork ready. 

How’s The Healthcare?

When experiencing a health issue in the Dominican Republic, many people were surprised as to how impressive the healthcare system is. For the last 25 years, the Dominican Republic has experienced a period of phenomenal economic growth, which has allowed the country to upgrade and develop its healthcare system. The DR now has a world-class healthcare system that is designed to provide you with top-quality healthcare services and treatment at a cost that is accessible to almost everyone. If you’re an ex-pat and wondering whether you’ll be able to communicate with your medical professional, don’t worry. Contrary to popular belief, medical professionals in the DR can communicate with their patients in both English and Spanish, offering world-class treatment to everyone. Many residents have received outstanding medical treatment in the DR, all the way from regular checkups to life-saving surgeries. 

As an ex-pat, your international healthcare insurance can cover almost everything, including most procedures, some prescriptions and emergencies, for as low as $200 USD per month. Depending on your insurance plan, it can cover hospital stays, dental procedures, doctor’s visits etc., and can be purchased on a quarterly or yearly basis. Whether you’re a part-time or full-time resident, you can rely on insurance to provide you with the best medical care in the Dominican Republic.

What’s The Cost of Living?

Typically, the cost of living in the Dominican Republic (DR) is around 40% lower than in the U.S and Canada, making it an affordable country to live in as a retiree. On a monthly basis, you will only need about $1500 CAD to live comfortably. You can dine out every day, go shopping and buy groceries without having any trouble making ends meet. 

Housing is also quite affordable in the DR, where you can customize and purchase a luxury villa for as low as $200,000 USD. You can modify existing floors, plan new designs or even install a grand infinity pool if you want while still staying within an affordable budget. Residents that have built their dream homes with Casa Linda Quality Communities have been living in the Dominican Republic for over 20 years, enjoying their retirement and experiencing new adventures every day.

Ready To Retire To The Dominican Republic? 

Start your buying journey and join our community full of friendly and active retirees! Contact us today to learn more about retiring in the Dominican Republic with Casa Linda.

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Hidden Costs of Buying a Private Villa in the Dominican Republic: Part 2

Hidden Costs of Buying a Private Villa in the Dominican Republic: Part 2

Your Perfect Villa

is waiting for you at casa linda

The cost of buying a private villa is usually pretty straightforward, where the buyer has a clear image of the cost. When signing the contract, buyers know the price of purchasing the lot, designing the home and constructing the villa, but what about governmental fees? Every government has its own legal fees and taxes when it comes to buying real estate. Below is everything you need to know about the governmental fees of purchasing Dominican Republic private villas.

1. Legal Fees

As every government implements different rules and regulations on buying real estate, it is strongly recommended that all prospective buyers retain a real estate attorney, or a solicitor, before signing documents or making an agreement. When purchasing a villa in the Dominican Republic, buyers are subject to pay legal fees to their lawyers in order to cover the expenses of due diligence, disbursements and transfer of title fee. Typically, an attorney will charge buyers between 1% and 1.5% of the purchase price to cover the costs of the legal fees and ensure that all your legal paperwork is in place. 

2. Property Transfer Fee

Buyers will also be subject to paying a property transfer tax fee which is 3% of your property value. The 3% transfer tax is usually less than the market value, depending on your purchase price. When paying the property transfer tax fee, buyers are ensured that the title of the property is legally transferred from the sellers to the purchasers. Generally, buyers would be responsible for paying from $2000 – $6000 USD, which is the amount based on the property’s value that the Dominican Republic government assesses.

3. Real Estate Tax Fee

As appraised by the Dominican Republic government authorities, real estate properties owned by individuals are subjected to pay a 1% annual tax that is based on the combined value of all the properties they own. Property owners should only pay the 1% yearly tax fee if their property value exceeds 6,858,885.00 DOP (around $150,000 USD). As a villa owner, your property value is assessed without calculating the value of any furniture or equipment within the property. If your villa is not yet built, but you are the legal owner of the property, then the 1% tax will be calculated on the current appraised value of your property without any exemptions. 

You can pay the real estate tax fee every year at one go on March 11th or before that date. If you prefer to pay the fee in installments, you can pay 50% before March 11th and the remaining 50% before September 11th. Due to inflation, the amount of exemption is generally adjusted annually for all property owners. If your property falls under any of the following circumstances, then you are exempt from paying the 1% real estate tax fee:

  • Farm Properties
  • Properties owned by companies; therefore, pay a separate tax on their company assets
  • Homes whose owner is 65 years or older and has no other property in their name 

Want To Learn More About Owning Dominican Republic Private Villas? 

Contact us today to learn more about purchasing a private villa in the Dominican Republic and how to start your journey to become a property owner. If you want to know more about the hidden costs of purchasing a property from a real estate company, check out part 1 of this blog!

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Hidden Costs of Buying a Private Villa in the Dominican Republic: Part 1

Hidden Costs of Buying a Private Villa in the Dominican Republic: Part 1

Your Perfect Villa

is waiting for you at casa linda

It’s normal for buyers to feel overwhelmed when purchasing a private villa from a real estate company in a country they’re unfamiliar with. Many hidden costs might arise during the buying process, which could make buyers feel confused and stressed. With that said, reputable real estate companies should provide you with a breakdown of all the costs that could come up during your buying process.

At Casa Linda Quality Communities, we are always eager to provide all our homeowners with a list of costs they might come across during their buying process. We understand how difficult it might be to make a costly decision in a foreign country, which is why we have compiled a list of everything you need to know about the additional costs you could face when buying and constructing properties with Casa Linda.

1. Monthly Fees for Casa Linda Quality Communities

Every property manager will have a monthly fee that covers the maintenance and security of the property. Property owners at Casa Linda usually pay a monthly fee of $260 – $340 USD, depending on the size of their lot. This fee includes many services such as:

  • Maintenance of Common areas
  • Maintenance of Outdoor Lighting
  • Office Services
  • Garbage Collection
  • Shuttle Bus Services
  • Owner Liaison Staff Member

The monthly fees are put in place to maintain the security and the cleanliness of the common areas in Casa Linda and offer property owners the opportunity to lock up and leave their property without worrying about any safety issues.

2. Cost of Furnishing

When moving to the Dominican Republic, buyers want to bring parts of their home to their new luxury villa, whether that might be adding similar furniture or purchasing nostalgic memorabilia. Depending on your personal taste and style, the cost of decorating and furnishing your villa will probably fluctuate drastically. Some homeowners aren’t necessarily sure how they would like to furnish their villa or where to find the pieces they have in mind, but don’t worry! Casa Linda is happy to recommend professional decorators for buyers who are unsure of how to furnish their new homes. We always advise our clients to be prepared to pay around 10-15% of the villa cost towards fully furnishing their home, including:

  • Appliances
  • Kitchenware
  • Furniture
  • Pool Equipment
  • Linens
  • Window Coverings
  • Electronics, etc.

3. Maintenance Fees

Homeowners can request housekeeping, gardening and pool maintenance throughout the year for a monthly fee. Depending on the size of your villa, yard and pool, the prices will vary accordingly. At Casa Linda Quality Communities, we are happy to provide all our homeowners with a complete outline of the costs for any services, including housekeeping, gardening and pool maintenance. We work closely with our homeowners to ensure transparency with all our maintenance fees.

Contact Casa Linda

Ready to build the villa of your dreams with Casa Linda? Check out our villa floor plans and prices, and contact us when you’re ready to start your Caribbean journey! If you want to learn more about the hidden costs of taxes in the Dominican Republic, check out part 2 of this blog.

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Is Investing In The Dominican Republic Profitable?

Is Investing In The Dominican Republic Profitable?

Your Perfect Villa

is waiting for you at casa linda

The Dominican Republic is a beautiful place to visit, but is it a good place to invest? Read on below to find out! 

Economic Social Stability

It goes without saying that the pandemic significantly impacted many countries and caused a sharp contraction in the economy worldwide. Some countries were able to bounce back while others are still living with the repercussions until this day. One of the countries that were able to strongly recover from the setback and experience a remarkable economic growth of almost 7% in 2020 and 12.3% in 2021 is the Dominican Republic (DR). 

While the pandemic had put intense pressure on the financial sector, the DR was able to overcome the financial challenges successfully. With the significant growth of tourism, mining, telecommunications and foreign direct investment, the DR is now the second fastest growing economy in Latin America. The economic growth in the DR has made it a prime location for investors as it created many different investment opportunities that are both safe and successful. With the DR’s stable economic growth, you can safely invest in many investment opportunities. If you’re a foreigner looking to invest in the DR, you can apply for one of the investor visas and even gain permanent residency by qualifying for an investor visa. 

Best Investment Opportunities

The increase in investment opportunities paved the way for real estate investment to rise significantly over the past years. The DR has even made it possible for foreigners to invest in real estate on the same grounds a local investor would. As a foreign investor, you can gain free access to international currency in local commercial banks and the Central bank, free conversion of funds and repatriation of 100% of the profits. You can also buy real estate all throughout the Dominican Republic, including maritime and touristic locations. The DR has made it possible for you to purchase any property, whether or not you carry the Dominican Residency and without the need of a local partner.

Casa Linda Quality Communities has been one of the most popular destinations for investors and retirees to purchase real estate and build their dream homes. For over 20 years, we have helped retirees, investors and entrepreneurs build the villa of their dreams and start their journey in the Dominican Republic. Our team offers free in-house architectural services to give you the freedom to design and modify your own personalized luxury villa. We also provide different options for rental services that will help you rent out your villa on major travel sites like Expedia, Booking.com, Airbnb etc. At Casa Linda Quality Communities, we are ready to help you every step of the way.

Strong Tourism Industry

Wouldn’t you want to spend your days in the tropical climate, enjoying the white sandy beaches and exploring the diverse mountainous landscapes? Well, so do 6 million tourists who visit the DR every year. The Dominican Republic has become the most popular destination for tourists in the Caribbean, making it one of the top 5 overall tourist destinations in the Americas. In fact, the tourism industry accounts for more than 10% of the Dominican Republic’s GDP, putting it one of the most profitable destinations for investors. Many of the owners of Casa Linda Villas can rent out their villa for most of the year and then come back for a family vacation whenever they want to, making it both profitable and enjoyable for them. 

Start Investing In The Dominican Republic With Casa Linda

Contact us today to learn more on how you can successfully start your real estate investment with Casa Linda Quality Communities. 

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