Hi,
I have been to Dominican Republic several times and I like the country and I can see myself living here. I see there are new immigration rules and, even though some things seems unclear, I kind of understand them. But do I qualify to be a permanent resident and do I want to be it?
I have two questions:
How much do I need to earn a month to get the Permanent Residency? I am not planning to buy Real Estate right away.
I work as a Web Designer and my clients are mostly European.
In the Residency section it says:
"Disadvantages: A resident is subject to income tax on worldwide income from investments abroad after the third year of residency in the country. However, this applies only to income from financial investments, not to income from other sources such as personal work. Of course, the resident will also pay income tax on Dominican income."
"Personal work", so that means me, with no employees, do not need to pay taxes when I work with clients abroad?
What is "dominican income"? If I provide services to Dominican based companies I guess? Or?
Sorry, my first language is not English so the above is not super clear to me.
I have been to Dominican Republic several times and I like the country and I can see myself living here. I see there are new immigration rules and, even though some things seems unclear, I kind of understand them. But do I qualify to be a permanent resident and do I want to be it?
I have two questions:
How much do I need to earn a month to get the Permanent Residency? I am not planning to buy Real Estate right away.
I work as a Web Designer and my clients are mostly European.
In the Residency section it says:
"Disadvantages: A resident is subject to income tax on worldwide income from investments abroad after the third year of residency in the country. However, this applies only to income from financial investments, not to income from other sources such as personal work. Of course, the resident will also pay income tax on Dominican income."
"Personal work", so that means me, with no employees, do not need to pay taxes when I work with clients abroad?
What is "dominican income"? If I provide services to Dominican based companies I guess? Or?
Sorry, my first language is not English so the above is not super clear to me.
