Undecided

rotondo

New member
Jun 18, 2007
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:ermm:


I HVE BEEN DOING RESEARCH ABOUT D.R. AND PANAMA,SINCE I WILL BE RETIRING IN A FEW MONTHS-LOVE BOTH PLACES-ONE THING I HAVE NOT BEEN ABLE TO FIND ARE IF D.R. OFFERS ANY KIND OF PERKS LIKE DOES P
ANAMA-OR COSTA RICA EVEN IF THEY ARE NOT IN THE RUNNIG ANY MORE
 

drtampa

Bronze
Oct 1, 2004
1,084
29
48
New Ulm, TX
If you mean compared to Panama's Pensionado Program which offers:
Import duty exemption for household goods
Tax exemption to import a new car every two years
50% off entertainment anywhere in the country (movies, theaters, concerts, sporting events)
30% off in-country bus, boat, and train fares
25% off in-country airline tickets
50% off hotel stays Monday through Thursday
30% off hotels stays Friday through Sunday
25% off restaurant bills
15% off at fast-food restaurants
15% off hospital bills (if no insurance applies)
10% off prescription medicines
20% off medical consultations
15% off dental and eye exams
20% off professional and technical services
50% reduction in closing costs for home loans
25% discounts on utility bills
15% off loans made in your name
1% less on home mortgages for homes used for personal residence

The answer is minimal comparison.
 

DavidZ

Silver
Aug 29, 2005
3,512
238
63
www.vipcigartours.com
I have to say that's a pretty impressive program...Actually looks very similar as those travel membership club offers you get in your credit card statements...first month free then like $59/year...except for the last three benefits...

I did read in the news a few months back that Leonel and other Govt officials were "looking into" a similar program for the DR...how far it gets is anyone's guess.
 

zoomzx11

Gold
Jan 21, 2006
8,364
837
113
In short NOOOOOOOO

Sadly the DR has nothing to compare with the package that Panama is offering to retirees. Here in the DR, they talk a lot about making changes to attract people but its just talk and nothing is done. After looking at CR and Panama very closely I ended up here in Sosua on the north coast of the DR. You do not know what hot is till you been to Panama. I like it warm but with limits. The only way to live cool in Panama is to be up in the mountains and then you are far away from conveniences. There is a nice town for expats near David. All in all I am very happy here and think I made the right choice. Costa Rica has priced itself out of the race. Oh and one other thing that may help you make up your mind, The Dominican Republic has without a doubt the most beautiful women in the world.
 

vegasdiva

New member
Dec 2, 2006
50
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0
Feels like someone was listening in . . .

Sadly the DR has nothing to compare with the package that Panama is offering to retirees. . . .

Have you been keeping up with the International Living publication? My dad and I were just speaking of these same things/countries yesterday.

. . . . Oh and one other thing that may help you make up your mind, The Dominican Republic has without a doubt the most beautiful women in the world.

I keep reading/hearing this, and don't disagree. The guys aren't too hard on the eyes either. And then, there's so much more to this culture and these people than "looks" alone.
 

rotondo

New member
Jun 18, 2007
23
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0
undecided

First Thanks To All That Have Rply To My Post Every Bit Of Info Helps.

I Was Not Able To Find Info So Valuable As With You Guys
Intl Mag. Does Not Have Very Much On The D.r.

It Would Be A Shame For D.r.to Loose Out On The Millions Of U.s.citizens That Are Going To Be Retiring In The Next Few Year
I Understand Tht Maybe The Foundation Is Not There Yet But With Cuba On The Horizon .they Better Hurry Now Becouse I Know A Lot Of People Are Waiting To See What Is Going To Happen There.

Again Thanks I Will Keep Posted.

Rotondo
 

zoomzx11

Gold
Jan 21, 2006
8,364
837
113
me and my big mouth

Todays paper has an article on a new law that has just passed and is in effect. It virtually duplicated Panam's pension benefit program. You can be a resident in 45 days and get an auto here without the high costs otherwise incurred. The paper is Listen Diario. The newspaper is in Spanish. You might try looking at "Dominican Today" site as it has English language news. Hopefully this new law will be enforced as enacted and prove a boon to new residents looking to retire in the DR. It has been talked about as coming but I was a bit cynical. Looks like I was dead wrong.
 

Criss Colon

Platinum
Jan 2, 2002
21,843
189
0
36
yahoomail.com
"heard" All That Before!!!

There is a huge difference in the DR between what is "Proposed" and what is "FACT"! There is a "LAW" regarding every part of life,then there is the "REALITY"!
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
928
113
Todays paper has an article on a new law that has just passed and is in effect. It virtually duplicated Panam's pension benefit program. You can be a resident in 45 days and get an auto here without the high costs otherwise incurred. The paper is Listen Diario. The newspaper is in Spanish. You might try looking at "Dominican Today" site as it has English language news. Hopefully this new law will be enforced as enacted and prove a boon to new residents looking to retire in the DR. It has been talked about as coming but I was a bit cynical. Looks like I was dead wrong.
Do you have a link? Mom CB would LOVE to read about that.
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
2,333
184
63
www.drlawyer.com
The new law, awaiting enactment by the Executive, provides for:

(a) Residency in 45 days
(b) Exemption on duty for importation of household goods
(c) Reduction on duty for the importation of a motor vehicle
(d) Exemption on transfer taxes for the first purchase of real estate
(e) 50% reduction on taxes on mortgages
(f) 50% reduction on the annual property tax
(g) Exemption on taxes on dividends and interest
(h) 50% reduction on capital gains.

The minimum income required is $1500 US for retirees with a government or private pension and $2000 in verified income from all others.
 
Sep 19, 2005
4,632
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I wonder if Panama has the same forms of corruption to circumvent as the DR does. because really like cccc says....whats on paper doesnt mean squat when it comes to getting action..or not.

bob
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
Fabio, does this apply to retirees already in the DR or just to those who enter after the law takes effect?