Just discovered this informative and friendly forum a few days ago. My wife and I (and small dog) will leave the USA and relocate to the DR(Sosua, Samana or Luperon) as soon as we have liquidated our assets. I visited the north shore several years ago, just sailing through. Now we are ready to start a new life in what I remember as a wonderful country...I have read a number of threads and have a pretty good idea of what's going on there. Here are some questions (excuse me if I am repeating previous threads):
1)Will we realistically be able to receive 15-20% on US$120,000 if it is deposited in pesos?
2) Until we discover which money-creating direction we will take there, is it realistic to live modestly (rent, utlities, food) on the interest generated from that capital?
3)Is the tourist economy strong, or has it really been knocked sideways the last year or so?
4)Is it still possible to buy a "fixer-upper" house in a decent area (NOT a gated community, thanks)for $50,000?
5)How soon after we arrive on a tourist visa can we begin the residency process?
6)How soon after the residency process begins, will we be allowed to go into business?
7)Is there anything like "Public Storage" or a similar secure storage situation for personal possessions? (We won't be bringing a lot - we live on a sailboat, so don't have too much!)
I understand that using a lawyer is imperative and it seems Fabio Guzman is highly recommended.
For those of you who have rolled your eyes at these questions, my humblest apologies...
Jon White
1)Will we realistically be able to receive 15-20% on US$120,000 if it is deposited in pesos?
2) Until we discover which money-creating direction we will take there, is it realistic to live modestly (rent, utlities, food) on the interest generated from that capital?
3)Is the tourist economy strong, or has it really been knocked sideways the last year or so?
4)Is it still possible to buy a "fixer-upper" house in a decent area (NOT a gated community, thanks)for $50,000?
5)How soon after we arrive on a tourist visa can we begin the residency process?
6)How soon after the residency process begins, will we be allowed to go into business?
7)Is there anything like "Public Storage" or a similar secure storage situation for personal possessions? (We won't be bringing a lot - we live on a sailboat, so don't have too much!)
I understand that using a lawyer is imperative and it seems Fabio Guzman is highly recommended.
For those of you who have rolled your eyes at these questions, my humblest apologies...
Jon White