residency (I searched)

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monaco09

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Jun 4, 2003
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Ok, I am clearly missing something here. Everything I read seems to say residency is easy to obtain. The guide here and elsewhere seems to state that you need 500k in investments in the DR to show solvency.

Is this true? Many on this board do not sound like they have 500k. Furthermore, for those that do, many would not want to invest it with DR banks.

What am I misunderstanding? Do you really need to leave that much money in the DR? That does not seem like an easy residency program at all!
 
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Escott

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Jan 14, 2002
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www.escottinsosua.blogspot.com
monaco09 said:
Ok, I am clearly missing something here. Everything I read seems to say residency is easy to obtain. The guide here and elsewhere seems to state that you need 500k in investments in the DR to show solvency.

Is this true? Many on this board do not sound like they have 500k. Furthermore, for those that do, many would not want to invest it with DR banks.

What am I misunderstanding? Do you really need to leave that much money in the DR? That does not seem like an easy residency program at all!
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First off it is in US$ in your post and RD$ in reality which isn't that much. Secondly I don't remember having to prove anything about assets other than giving two letters, one from a Stock Broker and one from a Bank in the states which I used as a recommendation to open bank accounts here and in other countries. You will need a sponsor that will pay for your dead carcass to be shipped back to where you come from. Speak to a attorney and maybe they can help you through what ever is your problem.
 
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Ken

Platinum
Jan 1, 2002
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Did you see this? http://www.drlawyer.com/txt/articlesimm.html

RD$500,000 is about US$18,000 at present rate of exchange.

Perhaps the rules have changed since I got my residency, but I wasn't required to have invested in the country before getting residency. I was required to give evidence that I had financial resources available to me. But as Scott indicated, this was satisfied by a couple of letters with knowledge of my (limited) resources.
 
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monaco09

New member
Jun 4, 2003
106
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You are of course, correct. I read it as 500k USD not RD. Thank you for clearing it up!

Ken said:
Did you see this? http://www.drlawyer.com/txt/articlesimm.html

RD$500,000 is about US$18,000 at present rate of exchange.

Perhaps the rules have changed since I got my residency, but I wasn't required to have invested in the country before getting residency. I was required to give evidence that I had financial resources available to me. But as Scott indicated, this was satisfied by a couple of letters with knowledge of my (limited) resources.
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