- Thread starter hiigara
- Start date
How much money do I need to apply for residency?
What do you want, residency or a bank account?
If you're looking for residency then look at that thread of mine 'what do you make of these figures'. Should still be on the drop down as it is recent, that will give you an idea of what people are making of recent costs regarding different lawyers. Should you decide to do it yourself it is cheap, but you will need plenty of help from close natives, preferably well to do natives with a little knowledge of these things.
If it is a bank account then there is also a recent thread on this from yesterday, search the menu, should still be there.
If you're looking for residency then look at that thread of mine 'what do you make of these figures'. Should still be on the drop down as it is recent, that will give you an idea of what people are making of recent costs regarding different lawyers. Should you decide to do it yourself it is cheap, but you will need plenty of help from close natives, preferably well to do natives with a little knowledge of these things.
If it is a bank account then there is also a recent thread on this from yesterday, search the menu, should still be there.
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He wants residency. I think question about bank account is only regarding being able to show he has whatever financial resources are required to get residency
Yes that's what I want, thanks.
I read your thread Anastacio. So it's 5000 USD with lawyers. But how is the financial solvency proved?
It is not required, although from what understand may be reintroduced in the future.
And as far as lawyers go Fabio is recommended and rarely screws up but I'd say he is the higher priced end of your options. I think if you can afford him then it is a good move, if not tread carefully.
It does not cost US$5,000, that's if you include nationalization, becoming a Dominican, passport etc.
I believe the solvency requirement is no longer required.
I suggest you read the threads in this forum, we must 50+ on this exact subject, they cover every little detail.
January 2008....
I was required, by Fabio Guzman's office and the government, to post $5000 in a bank account to establish my residency.
In lieu of property.
It worked... residency granted
Just ask a good lawyer.
With all due respect... some on this forum are ill informed.
My application may be out of date...... ask a recent applicant.
Things may have changed since my time..... therefore seek counsel
WW
I was required, by Fabio Guzman's office and the government, to post $5000 in a bank account to establish my residency.
In lieu of property.
It worked... residency granted
Just ask a good lawyer.
With all due respect... some on this forum are ill informed.
My application may be out of date...... ask a recent applicant.
Things may have changed since my time..... therefore seek counsel
WW
You are correct, some are I'll informed. I doubt Fabio is one of them, and confirmed from at least July 2010 The solvency requirement is not in place.
I'm sure he is well informed......
The rules change all the time - not just for residency.
There was a thread here a while ago about opening a bank account.
The discussion revolved around whether or not one could open an account without a cedula.
The consensus here was that a cedula IS needed to open an account.
I found that odd, because I needed a bank account in order to APPLY for my cedula/residency.
It ain't easy keeping up on the rules and regulations.
Something about carts and horses or chickens and eggs.... I can never get those straight
WW
Not only different banks, but different branches of the same banks have different requirements. The capital is a nightmare without residency, everywhere IME. Head over to Bavaro and they almost take your word for who you are, bish, bash, bosh, debit card in hand. It is a nightmare to navigate all the contradicting experiences and information, I think there is a national joke among the natives to try and confuse foreigners as much as possible, under every circumstance.
As a foreigner I've had the same experience dealing with banks in the USA. Maybe the natives there have the same sense of humor as Dominicans.
Never has a problem: I choose a lawyer carefully: we talked for 1/2 hour and I showed him the various documents. After that use him as reference and no problems. When I lived in France it was far more difficult. As in all latino countries pays to be patient, polite, respectful. Its their country after all.
:bunny:
Yanandu
That would be right. You live on cheap wine and a roadkill to budget and then use a lawyer to open a bank account.
Seriously I would deposit sufficient money initially in a local bank to cover emergencies etc. as travel insurance may be on a reimbursement basis. If you need to go in a hurry or pay an initial deposit etc.
Maybe just $5,000. After all is set up and running - residence applied for etc. -deposit paid for a place to rent or buy, deposit paid for electric etc. the balance can be reduced. The local bank will be useful as a reference.
Other destinations required considerable deposit for long term stay. Thailand for example for retirement visa.
Yanandu.
Maybe just $5,000. After all is set up and running - residence applied for etc. -deposit paid for a place to rent or buy, deposit paid for electric etc. the balance can be reduced. The local bank will be useful as a reference.
Other destinations required considerable deposit for long term stay. Thailand for example for retirement visa.
Yanandu.
Quality red table wine please - high in anti- oxidents.
A lawyer is required to buy property in the DR. Once you have quote - fixed price - why not ask him to help with other details?
He is most likely friends with bank managers etc.
Bank account is needed ideally for house transaction anyway.
You can send money directly to lawyers escrow account from Europe, USA etc. but its better to have local bank draft.
Yanandu