DR Investor's Visa (new law?) - tax insentives promised

I just saw this on local TV (so, don't quote me on the following).
Apparently, there would be a new (?) immigration law which would provide qualifying residencia applicants who wish or plan to invest in the DR with the following advantages when compared with the regular process:

• 45 days process time (vs. 6 to 18 months).
• Reduction on some taxes, including elimination of the real estate tax on the first purchase (commercial or residential).
• Besides the usual allowance to import home goods and a vehicle, the option to instead buy a first vehicle here without paying ITBIS nor the infamous impuesto selectivo (a particularly intelligent option, for all parties involved, I think).

The amount to "invest" or job generation/preservation numbers to qualify were not discussed in that TV segment.

Upon verification of these claims, maybe prospecting immigrants planning to invest, might find it to be worth the while to at least ask an immigration lawyer if this is an option they might qualify for.


... J-D.

Gracias Licenciado.

That would seem to be the law discussed. I see, the "investment" is really minimal, basically limited to committing to spend a guaranteed income from a from an annuity or other retirement income from abroad.
Certainly a type of "investment" but one would like to think that just like many other countries, there would be special treaty visa or residence with perks attached for people seeking to seriously invest by creating jobs and committing a sizable amount at risk (hotels, restaurants, colmados, call centers, excursion enterprise... or even better, some manufacturing outfits, which is what the country really needs).

... J-D.