As a new member at dr1.com, I want to kickoff my first post by acknowledging what a wonderful resource we have here. Many thanks to the folks at dr1.com and the community that makes all of this possible!
I'm trying to understand the relative benefits of Dominican residency vs citizenship. I am a US citizen/resident who wants to apply for dual citizenship based on being the son of two Dominican citizens. My dad lives full-time in the DR and has all of his assets there. My mom and I live in the US.
Based on a previous post by Fabio Guzman, I understand that a nonresident beneficiary must pay a 50% surcharge on inheritance estate taxes; residents are not subject to this surcharge. Does the 50% surcharge also apply to nonresident Dominican CITIZENS?
More broadly, what are the major differences in rights and responsibilities of Dominican residents vs (nonresident) citizens?
Any feedback is greatly appreciated.
I'm trying to understand the relative benefits of Dominican residency vs citizenship. I am a US citizen/resident who wants to apply for dual citizenship based on being the son of two Dominican citizens. My dad lives full-time in the DR and has all of his assets there. My mom and I live in the US.
Based on a previous post by Fabio Guzman, I understand that a nonresident beneficiary must pay a 50% surcharge on inheritance estate taxes; residents are not subject to this surcharge. Does the 50% surcharge also apply to nonresident Dominican CITIZENS?
More broadly, what are the major differences in rights and responsibilities of Dominican residents vs (nonresident) citizens?
Any feedback is greatly appreciated.