Make Americans and Europeans Tax Exempt for 5 Years and Permanent Resident upon Arrival If they invest and Employ Dominicans

pinonuevo

Active member
Dec 7, 2020
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Roman
1-Exempt from transfer taxes when they purchase a property
2-Exempt from income tax for 5 years if they employ at least one Dominican
3- Exempt Americans and Europeans from Visa / Visa Free ( Other countries give them 90 days entry)
4) Require only their passports

Reason:
1) Simple Economics; they bring in the Money and they automatically employ at least one person and spend money in the country.
2)Transfer of Technology.
3) American and Europeans already host lost of Dominicans working in the respective countries
 
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Reactions: AlaPlaya
Jan 9, 2004
10,253
1,434
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1-Exempt from transfer taxes when they purchase a property
2-Exempt from income tax for 5 years if they employ at least one Dominican
3- Exempt Americans and Europeans from Visa / Visa Free ( Other countries give them 90 days entry)
4) Require only their passports

Reason:
1) Simple Economics; they bring in the Money and they automatically employ at least one person and spend money in the country.
2)Transfer of Technology.
3) American and Europeans already host lost of Dominicans working in the respective countries
The DR, like many other places, already offers residency incentives by investment...............

The incentives they offer pale in comparison to their island neighbor........Puerto Rico............


Respectfully,
Playacaribe2
 

beeza

Silver
Nov 2, 2006
3,383
569
113
1-Exempt from transfer taxes when they purchase a property
2-Exempt from income tax for 5 years if they employ at least one Dominican
3- Exempt Americans and Europeans from Visa / Visa Free ( Other countries give them 90 days entry)
4) Require only their passports

Reason:
1) Simple Economics; they bring in the Money and they automatically employ at least one person and spend money in the country.
2)Transfer of Technology.
3) American and Europeans already host lost of Dominicans working in the respective countries

1- Many foreigners purchase property that belongs to a corporation - therefore no transfer tax on property as the owner stays the same, ie: the corporation.
2-Not many foreigners pay income tax, very few are employed by Dominican companies. Many are self employed, contractors or entrepreneurs.
3-If you don't have a visa, you can stay as long as you like and simply pay an overstay fee when you leave.
4-See 3 above, just your passport is required.

Reason
1)There is already a huge foreign investment in the DR. Hundreds of foreign multinational corporations hire Dominicans.
2) Technology sector is growing. Adoption of tech by young Dominican graduates is a booming industry.
3) Dominicans have to jumps through the same hoops as most Latin American citizens to live and work in American and European countries.

In short, DR is VERY foreigner friendly compared to many Caribbean / Latin American countries.
 
Jan 9, 2004
10,253
1,434
113
Quite true---Plus - the current gov't has a knack for bringing in money

Any special 'foreigner' deal would yield such low numbers, it might not rank too high on the priority list
Perhaps it is not the numbers of persons, but the number of pesos those persons have. At least that is how Puerto Rico seems to view it;



Respectfully,
Playacaribe2
 

william webster

Platinum
Jan 16, 2009
28,307
3,175
113
Number of pesos -
Yes, there should always be 'minimum amount' in the program.... the DR already has this in it's offers