Tax Exemptions and Automatic Residency to Americans/Europeans that Employ Dominicans

[pinonuevo]

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

 

[playacaribe2]

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]

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.

 

[william webster]

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

 

[playacaribe2]

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;

The Ultimate Guide to Puerto Rico Crypto Tax - Donnelly Tax Law

Learn everything you need to know about Puerto Rico crypto tax incentives and why American crypto traders should move to Puerto Rico.

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How Puerto Rico Became the Newest Tax Haven for the Super Rich

Welcome to a paradise for the personal-jet set among the ruins of Hurricane Maria.

www.gq.com

Respectfully,
Playacaribe2

 

[pinonuevo]

Thanks so much for your comments.

 

[william webster]

Number of pesos -
Yes, there should always be 'minimum amount' in the program.... the DR already has this in it's offers