- Thread starter cobraboy
- Start date
Residency Renewal Insurance
I am in the batter's box. I go with my lawyer Monday to file initial paperwork. What insurance? At first my lawyer stated I did not need a letter from the bank proving solvency but at the last minute my lawyer said I did.
It's an insurance policy that supplants solvency & guarantees. Costs, I'm old, $115.
Supposedly reimburses the gubmint for your deportation.
My lawyer, who has done three prior residencies, says it's now required, a fairly new stipulation. There has been some discussion on DR1. I'm wanting to know who has gone through that process.
There was discussion but I remember thinking it didn't apply if you could supply other solvency proof.
It was $115 to skip the solvency test - as I remember it.
Bank account, house, car - whatever obviated the need.
I might be mistaken..... where's the group librarian/historian to dig up that thread?
It was $115 to skip the solvency test - as I remember it.
Bank account, house, car - whatever obviated the need.
I might be mistaken..... where's the group librarian/historian to dig up that thread?
Can't help you with this. I am using Guzman law firm again and received a somewhat itemized bill for legal fees and renewal procedure expenses. If I find out anything on Monday I will report back.
Here is Licelotte's quote from her post #14 in the Insurance thread
Permanent residents will have to option of buying the insurance policy or proving solvency as they did under the previous process.
New applicants and temporary renewals are affected
Permanent residents will have to option of buying the insurance policy or proving solvency as they did under the previous process.
New applicants and temporary renewals are affected
Reporting back.................
Not exactly the best day at DGM for me. Best I can understand something went haywire and they could not find whatever they needed to find in the "system" for me.
no mi culpa ................. jejejejeje
This is what I did find out but please don't take it as the gospel truth as things change from moment to moment.
To prove solvency you need to present a bank letter stating you have at least $1,000 USD in an account. A little puzzled on this because what is to stop you from taking the money out two seconds after you get the letter? In the past it was just a bank letter but now they want your balance or at least the un mil minimum.
Now if you don't have a bank letter you can purchase insurance for $115 a year for adults and $65 a year for minors. This provides coverage to ship you back to where you came from if the DR decides you a bad boy. It covers legal fees and plane ticket up to $3,500 USD. My question what happens if you buy the coverage for the first year, get your renewal of cedula/residence and don't purchase the insurance the next year? I am sure that has already been figured out.
There is a BanReservas inside the DGM building to make payments for documents needed. At the entrance door is a lovely lady handing out flyers for Domi-GREX the insurance company and across the street is a mobile office on wheels.
As usual get there as early as you can and expect confusion.............. The things we expats do to be legal. LOL
Web link from the flyer handout.
http://www.dominicanadeseguros.com/intro1/
Not exactly the best day at DGM for me. Best I can understand something went haywire and they could not find whatever they needed to find in the "system" for me.
no mi culpa ................. jejejejeje
This is what I did find out but please don't take it as the gospel truth as things change from moment to moment.
To prove solvency you need to present a bank letter stating you have at least $1,000 USD in an account. A little puzzled on this because what is to stop you from taking the money out two seconds after you get the letter? In the past it was just a bank letter but now they want your balance or at least the un mil minimum.
Now if you don't have a bank letter you can purchase insurance for $115 a year for adults and $65 a year for minors. This provides coverage to ship you back to where you came from if the DR decides you a bad boy. It covers legal fees and plane ticket up to $3,500 USD. My question what happens if you buy the coverage for the first year, get your renewal of cedula/residence and don't purchase the insurance the next year? I am sure that has already been figured out.
There is a BanReservas inside the DGM building to make payments for documents needed. At the entrance door is a lovely lady handing out flyers for Domi-GREX the insurance company and across the street is a mobile office on wheels.
As usual get there as early as you can and expect confusion.............. The things we expats do to be legal. LOL
Web link from the flyer handout.
http://www.dominicanadeseguros.com/intro1/
Maybe I'm reading it wrong, but this seems to contradict what Licolette posted - or were you applying for permanent residency?
Thanks, there are so many different applications I guess I should have clarified. I was basically responding to CobraBoy the OP who is in the process of renewing his permanent residence which was acquired under the old law, much like mine.
Maybe a dozen threads to cover all the possibilities.............. ROTFLMAO
I did chat with a few expats who came down just for the day and I finally feel their pain of all the crap, BS, wasted time to just be legal.