Renewal of an investor residency

M

Matilda

RIP Lindsay
Sep 13, 2006
5,485
338
63
Sorry, yes another residency renewal question. I have a friend who has an investors residency, which he got for the first time last year. It says on his residency card - Residencia por inversion definitiva.

It is now up for renewal after a year. Do I assume he goes straight for permanent, or has he got permanent already? is there no temporary for investors? And from what I can work out on line he needs to provide nothing at all - just fill in the form at migracion and pay the money?

Is that right? Any one any idea on this?

Matilda
 
franco1111

franco1111

Bronze
May 29, 2013
1,248
229
63
Gringo
I have the same. The first one (whatever it was) was good for one year. After that first year, I had to go to the Immigration Dept again to renew. I had to show them I have a bank account. It was kind of mysterious because they explained to me there was a new administration (president, etc) and they were not sure what the requirements would be. Anyhow, it was easy. Now that card is good for two years. I have been told the next time - when I go back for the second time - it will be permanent. (Who knows though, if there are rule changes, etc). I have not found a good explanation of this anywhere since this kind of residency seems to be not so common. Wish I had better answers. Maybe there is someone with more experience that can do better.
 
M

Matilda

RIP Lindsay
Sep 13, 2006
5,485
338
63
Thanks Franco. Did you only need to show bank details? No medical, no good conduct report?

Matilda
 
cobraboy

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
936
113
I'm not for sure, but I think it renews for 4 years after the expiration of the provisional.
 
F

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
2,359
252
83
www.drlawyer.com
If you are in compliance with the investor requirements, you may renew your permanent residence for 4 years. If you obtained your residence as a retiree. the renewal is for two years.
 
T

Tungsten

New member
Sep 5, 2013
26
0
0
www.abreuimmigration.com
Matilda said:
Sorry, yes another residency renewal question. I have a friend who has an investors residency, which he got for the first time last year. It says on his residency card - Residencia por inversion definitiva.

It is now up for renewal after a year. Do I assume he goes straight for permanent, or has he got permanent already? is there no temporary for investors? And from what I can work out on line he needs to provide nothing at all - just fill in the form at migracion and pay the money?

Is that right? Any one any idea on this?

Matilda
Click to expand...

Immigration has been in a state of flux where the investor residency is concerned, however, as of two weeks ago those who obtain residency through investment are granted permanent residency form the outset. This residency is good for two years and then must be renewed. In order to be renewed the investor must show they still qualify for this type of residency. For example if they receive rental income from foreign property/investments in the amount of US$2,000.00 or more they will have to provide proof that this is still the case in order to continue qualifying for this type of residency. Many obtain this type of residency because their real objective is to apply for naturalization which they will qualify for after six months.
 
C

Contango

Banned
Dec 27, 2010
2,196
5
0
investor residency? I never knew about this. So are you saying there is an "advantage" to those who actually bought property in acquiring permanent residency? I like the two year thing, and then permanent... ?
 
T

Tungsten

New member
Sep 5, 2013
26
0
0
www.abreuimmigration.com
Contango said:
investor residency? I never knew about this. So are you saying there is an "advantage" to those who actually bought property in acquiring permanent residency? I like the two year thing, and then permanent... ?
Click to expand...

There are two residency categories that can provide you with permanent status. The first is through investment, which applies to those who invest US$200,000.00 or more in a company registered to do business in the DR (the company must provide
employment to Dominicans). The second is as a rentista which applies to those who either receive a minimum of US$1,500.00
for retirement/pension or income in the amount of US$2,000.00 from rental property or investments in their country of origin. Residency as an investor or rentista is permanent and renewable every two years. In order to renew you must prove that
you still qualify for this type of residency by presenting paperwork which shows you are still in the same category.
 
You must log in or register to reply here.
Top Bottom