- Thread starter kamoe
- Start date
Investor visa - Visas de Residencia por Inversión
For a person who joined this forum yesterday you seem to be quite the expert.
Maybe you joined the wrong forum, since you possess such vast knowledge already.
It depends on the lawyer you use. I recommend you contact Guzman Ariza, ad at the top of the main page. They offer free consultations and are excellent.
The last time I saw the real answer to this question it was - in theory one could be granted investment residency based on a real estate purchase. But, at that time, no one had ever been granted it that way. That is the value of a lawyer, they know not only the law, but how it is applied in practice.
Wait for a response from Sr Guzman.
Wait for a response from Sr Guzman.
On the contrary, there have been several posts in this forum by persons who have received investor residency. There is a special line for them at DGM. Everything gets expedited. They get the red-carpet treatment. In this thread, MR has already said she has this residency.
What I was trying to say is that, the last I heard, no one has been granted investor residency for buying real estate. But, as I say, the only real answer will be from a lawyer who specializes in these things.
I have investor residency and have had it for many years. And, yes I get to go to an office at Migracion to renew it. Not stand in line outside. There are several ways to get it. And, it is not a visa. People who use that term may be referring to a period of time when they are issued some kind of temporary status while applying for residency.
Better to wait for Sr Guzman to answer.
You're right there - you can't just buy any real estate in general. Post #8 shows what kind of investments qualify. Many posters here throw around the term "visa" way too loosely and create confusion. Most of the time they're referring to the tourist card.
An attorney in the DR is referred to as Licenciado or Doctor, depending on the degree they have achieved. Never Sr.
Hire an immigration lawyer that can tell you all the answers.
I think the common mistake that is made by people who are new to this country is that they think that there are a set of rules and a set of outcomes, ie "you qualify for this visa by doing this, and these are the benefits". And they don't understand that most of the time here the rules are ignored, so when it says you need to do ABCDE to get something, actually you need to do DEFG. Or if you're Dominican and powerful, you call your primo who works in that department, and then you only need to do a bit of F and a bit of G. But to do F you need to go to another department, and then they need you to do S T and U, but you can't do S at the moment because their system isn't working. And before you get any of the benefits, it's another JKLM and they are never exactly like you thought they would be. Nothing here is logical and if you think that by following rules you'll get certain outcomes, it won't end well.
It's a shame that Rey isn't around, he would be able to give the OP a clear answer.
It's a shame that Rey isn't around, he would be able to give the OP a clear answer.
Good description: pretty much the way it works,
As I understand it, It doesn't count since you have to invest in a business that has employees for that. Not for purchasing property alone.
But by all means contact a lawyer and please report back what they say about just buying property alone for this purpose
RESIDENCE FOR FOREIGN INVESTMENT - DIRECCIÓN GENERAL DE MIGRACIÓN
Residence permit for foreigners entering the Dominican Republic for the purpose of making investments, exclusively. The validity of this permit is for one (1) year.
migracion.gob.do
REQUIREMENTS
• Passport valid for a minimum of (18) months. According to the application regulation 631-11.• Residence Visa (RS).
• Letter of Incorporation into the Foreign Investment Program.
• Certified Certificate of Foreign Investment.
• Inextense Birth Certificate, original.
• Four (4) recent photographs, of the same set: two (2) of front and two (2) of right profile, size 2×2, without jewels or accessories and bare ears, with the white background.
• Certificate of No Criminal Record of your country of origin or of the country where you have resided in the last five (5) years.
• Marriage certificate, declaration of singleness or proof of living together, apostilled or legalized.
• Guarantee policy contracted with ARS Reservas. You can go to CLICKING HERE
• Medical examinations, in one of the institutions authorized by the DGM.
What Migracion asks for might not be logical or well stated on its web page,
but when I became a DR citizen, the list of things I had to do to qualify and obtain it was very concise and logical making it
very doable with no lawyer. What the OP asked for requires a lawyer to state the answer to.
I doubt buying property alone qualifies for any legal way to stay in the DR. I know people with over a millions USD in property here
that live in it full time and they are illegal.
but when I became a DR citizen, the list of things I had to do to qualify and obtain it was very concise and logical making it
very doable with no lawyer. What the OP asked for requires a lawyer to state the answer to.
I doubt buying property alone qualifies for any legal way to stay in the DR. I know people with over a millions USD in property here
that live in it full time and they are illegal.
My landlord got it and gets walked through every time he needs to renew - VIP treatment
What kind of property
His only one or part of a string of them??
That’s a business - operating a string of rentals
His only one or part of a string of them??
That’s a business - operating a string of rentals
Operative word here is likely to be: landlord. Your landlord has a business renting.
Or a lawyer came up with a "creative company" on paper. That can happen.
This makes a lot of sense. (Not directed to OP as he is not interested). I read some time back the language of what the "investment of $200,000 is suppose to be and as I recall it said" not to be your personal residence." This lead me to think about how I file my personal taxes in the US...not for discussion here, but VERY similar to... what is your business (?) ...real estate. Clearly, winde..."that can happen".
I do think it's funny that all of us are playing guessing games trying to help the OP in order to save him a few dollars on a lawyer. (I spend thousands and thousands on lawyers every year and wouldn't dream of asking a detailed legal question on a public forum).
And I would avoid lawyers like the plague they are. Especially here.
I was able to get DR citizenship without a lawyer BECAUSE of questions I asked on DR1 and Lindsay (RIP) responded to with the correct procedure I did myself. Different stroke for different folks.