Hi,
Maybe its already have been ask, if so i apologize.
According to that page DR1 - Legal
" If I extend my stay over the 15 day period tourist card, what happens?
Nothing. You have to pay a penalty. The US$10 tourist cards allow you to stay for 15 days. A scaled charge from RD$150 (for up to 90 days), RD$250 for 3 months to 9 months, up to RD$2,000 for more than seven year longer stays. Keep the tourist card in a safe place, as you will need it when leaving the country."
That means if i renew my tourist visa card i can stay up to 7 years paying 2000$ RD? No need than to apply for residency permanant or temporary?
Here it say http://dr1.com/legal/FGuzmanTaxNotesFeb2008.pdf ;
" A Do-
minican or a resident foreigner receiving income from
financial investments (for example, stocks and bonds or
certificates of deposits) must pay taxes in the Domini-
can Republic on their income from those investments
(article 269).........For the resi-
dent foreigner, this obligation starts three years after
obtaining residency (article 271)"
Meaning as long as i dont apply for residency i dont have to pay taxes on my investment abroad? (I'm a prop trader living of capital gains)
"For tax purposes, any person residing in the Do-
minican Republic for more than 182 days in a year is
considered a resident (article 12)."
Does that mean even if i dont apply for residency i will still be consider a resident for tax purpose if i stay more than 182 days? Meaning after 3 years with a tourist visa i will have to pay taxes on my revenu even if i never applied for residency?
Am i seeing this correctly? Is it possible to live at least 3 or 7 years in the dominican republic renting a villa on a tourist visa without paying taxes on revenu abroad?
Frank
Thank you
Maybe its already have been ask, if so i apologize.
According to that page DR1 - Legal
" If I extend my stay over the 15 day period tourist card, what happens?
Nothing. You have to pay a penalty. The US$10 tourist cards allow you to stay for 15 days. A scaled charge from RD$150 (for up to 90 days), RD$250 for 3 months to 9 months, up to RD$2,000 for more than seven year longer stays. Keep the tourist card in a safe place, as you will need it when leaving the country."
That means if i renew my tourist visa card i can stay up to 7 years paying 2000$ RD? No need than to apply for residency permanant or temporary?
Here it say http://dr1.com/legal/FGuzmanTaxNotesFeb2008.pdf ;
" A Do-
minican or a resident foreigner receiving income from
financial investments (for example, stocks and bonds or
certificates of deposits) must pay taxes in the Domini-
can Republic on their income from those investments
(article 269).........For the resi-
dent foreigner, this obligation starts three years after
obtaining residency (article 271)"
Meaning as long as i dont apply for residency i dont have to pay taxes on my investment abroad? (I'm a prop trader living of capital gains)
"For tax purposes, any person residing in the Do-
minican Republic for more than 182 days in a year is
considered a resident (article 12)."
Does that mean even if i dont apply for residency i will still be consider a resident for tax purpose if i stay more than 182 days? Meaning after 3 years with a tourist visa i will have to pay taxes on my revenu even if i never applied for residency?
Am i seeing this correctly? Is it possible to live at least 3 or 7 years in the dominican republic renting a villa on a tourist visa without paying taxes on revenu abroad?
Frank
Thank you