Potential Issues:
* would have to travel to the US to maintain citizenship
Reply: Note: If you are a Resident of the USA then you can lose it But Not your Citizenship
* dual taxation?
Response: When you retire there is no dual taxation in DR; If you live 6 (six) months and One Day in DR the use exempts a large portion of the income/ last time I check it was 250K
* better access to medical care in the US (I have a chronic health condition for which I take daily medication for, don't know how much that would cost in DR).
When you travel Always buy the travel insurance/ it cost about 120.00 it covers medical emergencies up to One Million Dollar......I like Allianz/ You can buy it at AAA.
If you have 10K dollars in a foreign country you must file and declare it; the same if you have property there.
any person or entity subject to the jurisdiction of the United States (includes
individuals, corporations, partnerships, trusts, and estates) having a financial interest in, or
signature or other authority over, bank accounts, securities, or other financial accounts having a
value exceeding $10,000 in a foreign country shall report such a relationship. Although there are
some limited exceptions, filing requirements also apply to taxpayers that have direct or indirect
control over a foreign or domestic entity with foreign financial accounts even if the taxpayer
does not have foreign account(s). For example, a corporate-owned foreign account would require
filings by the corporation and by the individual corporate officers with signature authority.
Failure to disclose the required information to the U.S. Department of the Treasury may result in
substantial civil and/or criminal penalties
Benefits:
* miss the island and the culture, want to connect back to it.
* dollar/peso exchange rate: money can probably do more in DR.