The practical side of fast-track residency (from the article on immigration in the Guzm?n Ariza website):
EXPEDITED RESIDENCY
Law 171-07, enacted July 13, 2007, acknowledges the benefit of foreign investments to the general and economic well-being of the Dominican people and nation. Foreign nationals meeting certain criteria can acquire residency status within forty-five working days from the date an application is admitted for inspection at the Immigration Department (Decree No. 950-01).
Eligibility Criteria
Property owners with rental income, investors, and retirees are eligible to apply for residency on an expedited basis if certain income requirements and other specific criteria are met. The term used to describe this status is "Investment Residency," and is not always easy to obtain. The foreign national must submit the same documents required for the normal residency process, and additional documents that evidence the foreign national's eligibility for Investment Residency.
Property Owner with Rental Income
a) Income may be derived from rental property anywhere in the world.
b) Income must be a minimum of US$2000 per month. An additional income of US$250 per month per minor in the immediate family and spouse accompanying the applicant must be added.
c) Proof of rental income evidenced by an official document such as a lease must be certified, authenticated, and translated into Spanish for submission to the Immigration Department.
Investor Criteria
a) The investment must be US$200,000 or more.
b) The investment may be direct or indirect, for example, a real estate transaction, a deposit in a bank account, or an investment in a project in the Dominican Republic.
c) The investment must be registered in the Dominican Republic, evidenced by a Certificate of Investment. Regulation 214-04 on Foreign Investment Registration stipulates the criteria for registering investments with the Department of Export and Investments (CEI-RD). The CEI-RD issues a Certificate of Investment approximately one month from the date of application, and the Certificate must be regularly renewed. The holder of a valid Certificate of Investment can sponsor immediate family members, if an individual, or company employees, if a corporation, for expedited residency.
Retiree Criteria
a) Income must come from a public or private plan providing retirement income.
b) Income must be at least US$1,500 per month. An additional income of US$250 per month per minor in the immediate family and spouse accompanying the applicant must be added.
c) Proof of retirement income must be certified by the plan provider, authenticated, and translated into Spanish for submission to the Immigration Department.
Processing Time and Residency Validity
Although the time for the expedited process for residency is set at forty-five days, the actual length of the time required to obtain the Investment Residency card will depend on the time needed to authenticate documents in the country of origin, take the medical exam, and prepare local documents for submission to the Immigration Department.
Investment Residency is valid for one year. One benefit is that within six months of obtaining this status, the foreign national may apply for "Investment Citizenship." If citizenship is not sought, the foreign national has the option of applying for permanent residency.
