Not true. I didn't have to prove I had one peso. I had to show NO money to get my residency. Of course I had to pay for it like everyone else but no one asked how much money I had in the country.hansbert said:Any foreigner who wants to obtain a residence permit in the DR to my knowledge needs assets in the country amounting to a minimum of RD Pesos 500'000. Therefore owning a house for that value enables you to obtain the residence permit provided that you comply with the other conditions required by the laws but does not expedite it.
The price you quoted was about 90 dollars per square ft. That price is way out of line for the DR. Hell I build cheaper in New York than that.shadley000 said:Thats really interesting Jim. I have been getting VERY different numbers on the north coast.
That works out to about 150 $US per square meter.
Does that include tiles and a concrete roof?
I provided letters of credit from NY bank, US Brokerage and a letter of acceptance to give me a loan in high 6 figures. I didn't have to show a dime in the DR (which I had and could have proven had I been asked) at any time.hansbert said:Well jazzcom,
you were just lucky that they did not require you to produce evidence for assets since the pertinent law states clearly that the applicant must prove economic solvency.