Investor visa - Visas de Residencia por Inversión

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kamoe

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Hi so I bought my first property here and expect to buy the second now shortly and continue. This adds up.. so how to make this investment count for obtaining residency as an investor?

I know they ask for a certificate, Certificado de Inversionista, from the Centro de Exportación / Prodominicana. That's a bit ahead as I need to invest more. But how to I make sure that what I do count for this in the future. Investments sometimes need to be registered with the central bank ++ depending on the country. Any particular thing I should keep in mind as I bring money into the country and buy property with this in mind?

It's tourism related so I see in some cases it's the ministry of tourism that certifies the investment.

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kamoe

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Manuel01 said:
Hi, i do not really see the Benefit of this type of Residencia. The effort to get this one compared to the regular "Residencia Temporal" seems pretty much the same so why bother !?
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They are VERY different. The temporary visa is just that.. while i residency basically gives you the same rights as many Dominicans. Drivers licence++ And you can bring stuff into the country at a discounted rate after getting the visa, including a car from the country of origin and your "moving goods", that last part is minor.. but acting as a tourist here formally when I'm here to work and do business is not a long term alternative.
 
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kamoe

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So guys.. Thanks for your replies.. but I posted a quite concrete question about moving money and buying property and the related certificates / declarations... so if you don't have the answer.. keep your personal visa-choices to yourself. I did not ask about getting this or that visa. We all have very different reasons for choosing whatever path we choose.
 
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kamoe

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johne said:
I kicked that can around several times in the past couple of years. I, too came to same conclusion that it has no real value. In fact, I see negatives to it as an "investor". Think hard on that move and you might come to the same conclusion as well.
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A permanent residency is very different to the options. I'm not here on holiday or to retire.
 
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MariaRubia

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I have that residency and to get the tax breaks is quite a process and you will definitely need a lawyer to help you. I qualify for the 50% reduction in IPI but to get this involved a lot of backwards and forwards between Immigration and I think Hacienda and DGII. Even when I had a letter from the director of DGII saying I was eligible for the discount the DGII still didn't want to give it to me and I had to go to four different offices and finally have a bit of a gringa melt down to get them to give it to me.

Also ignore these people who say you don't need residency. You definitely need it if you are doing any serious business or investment here. I get asked for mine several times every day.
 
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kamoe

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My question was very specific. Related to money transfer and if they are declared in any particular way etc... Most comments above are just distracting guys... No answer, or I don't know would have been better than all this noise. Myself I assume there's no such system here.. it's the certificate from Centro de Exportación / Prodominicanao or Ministro de Turismo that does it... My best guess for the moment. Anyone know anything SPECIFICALLY about that.. feel free to share.. anything else.. post it somewhere else ;)
 
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MariaRubia

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kamoe said:
My question was very specific. Related to money transfer and if they are declared in any particular way etc... Most comments above are just distracting guys... No answer, or I don't know would have been better than all this noise. Myself I assume there's no such system here.. it's the certificate from Centro de Exportación / Prodominicanao or Ministro de Turismo that does it... My best guess for the moment. Anyone know anything SPECIFICALLY about that.. feel free to share.. anything else.. post it somewhere else ;)
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I understand the question, but the answer is that this is a very complex matter, and you will need to pay a lawyer. The point is that you are very focused on this certificate but the whole process of Investor Residency, and the tax breaks that can potentially come with it, is extremely complicated. Even if someone does answer your question on here, the reality is that there are a lot of steps involved, a lot of bits of paper, a lot of government departments, and unless you pay a lawyer it will almost certainly end in tears. In my case, even though I had the residency, they wouldn't give me any of the tax breaks and that bit took literally years to sort out.

For the record I don't know the answer to your specific question about these certificates, my point is that this isn't the right place to be getting detailed and complex legal advice.
 
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william webster

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kamoe said:
They are VERY different. The temporary visa is just that.. while i residency basically gives you the same rights as many Dominicans. Drivers licence++ And you can bring stuff into the country at a discounted rate after getting the visa, including a car from the country of origin and your "moving goods", that last part is minor.. but acting as a tourist here formally when I'm here to work and do business is not a long term alternative.
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Importing the car and household goods come with all residenies.

Temporary too...it leads to permanent.

I hope you are confused on this...... ask a lawyer for the easiest route - seems that's what you're looking for....
hassle free!
no such animal here !
 
chico bill

chico bill

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kamoe said:
So guys.. Thanks for your replies.. but I posted a quite concrete question about moving money and buying property and the related certificates / declarations... so if you don't have the answer.. keep your personal visa-choices to yourself. I did not ask about getting this or that visa. We all have very different reasons for choosing whatever path we choose.
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Seems kind of rude response for a person requesting free advice don't you think ?
 
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kamoe

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chico bill said:
Seems kind of rude response for a person requesting free advice don't you think ?
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It's for others to interpret.. but I see her that nobody actually have the answer to my question. And are throwing out all sorts of non-relevant opinions and personal experienced that are not very relevant. Again if you don't know the answer to the quite specific question.. go to the next thread please. But I do realize it's a waste of time here.. nobody seem to know because either people did not opt for this path to residency or they left it all in the hands of another person a lawyer etc. Just to add a piece of unsolicitated advice here, as it seem to be the way of things in this thread.. If you ever do use a lawyer here, check with various of them and educate yourself on the matter... because being a lawyer in not a qualification in it self. Much money and time are wasted by many who practice that profession.
 
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