So very impressed by the DR and being able to retire with perks, and Tax exemption… nearing retirement age and I am shopping around… I am going to definitely research more. Great Video, seems very straightforward and informative… Thanks so much….
Counting the day I can retire there here in the us with my retirement I have to be cutting cupón there I can live like normal plus whether thanks for info I bean doing. my home work
It is normal, that foreign rental income is not taxed. However, most countries deduct withholding tax on the social security income and the important question is, whethter or not you get this withholding tax refunded. And there is the big problem with DR. Currently there is no double taxation treaty for ss-income at all! For dividends, there are treaties, but not as favourable as it should be, meaning, big parts of withholding taxes are lost as well. As a result, the lost withholding tax is extremely high taxation and only fot that reason, you should not choose DR as retiree domicil. Further buying real estate is another tax trap, because real estates are multiple taxed: - income - capital gain - inheritance - real estate tax All of them are rather high. If that is not enough, also the consumer tax is very high, especially for petrol and VAT. Even health care services are taxed on VAT.
What if you will not have the $1,500 a month from SS but only say $1,200? My wife is a Domincan by birth and we have an apartment that is paid for in Santiago. This will obviously lower our living expenses. I have been trying to figure out how to approach applying for a pensionado visa with less than the required $1,500 and the additional $250 for my spouse. Would she even need to qualify if she is already a Domincan by birth? Any ideas? Thanks, Nick
hey Nick, you guys do not need "pensionado visa" ...your wife is a Dominican citizen if she was born there, and for you if you guys are legally married then you get award Dominican citizenship for being married to a Dominican...
@@reyvaldez23 Thanks for your reply. Yeah that makes sense. I saw the same on a Dominican Attorneys YT channel. Are you living in the DR and is this how it worked for you? Thanks again, Nick
@@nickboork I’m still in the states but I’m planning to retire there in few years, I go there all the times, I’m already preparing to be ready when the day comes…I have duo citizenship, Dominican/ American. My wife is American but she’ll become Dominican once we move…
@@nickboork I’m still in the states but I’m planning to retire there in few years, I go there all the times, I’m already preparing to be ready when the day comes…I have duo citizenship, Dominican/ American. My wife is American but she’ll become Dominican once we move…
@@reyvaldez23 Is your first name Rey? Sounds like we have similar plans. My wife Yngris and I talk about retiring to the DR all the time. I have less than 5 years to go till I'm 62 and planning on taking SS asap! It seems like there is a steady increase in expats retiring to the DR. We will be living in Santiago when we do make our move. Good to connect let's keep in touch.
*** Good day. I will be in DR in december for four months planning to retire there. Why do you say houses are cheaper in the north compare to Punta Cana in the south?? Punta Cana is located on the east side !
Thank you for promoting our Nation for the retirement of foreigners 🇩🇴👍👈
So very impressed by the DR and being able to retire with perks, and Tax exemption… nearing retirement age and I am shopping around… I am going to definitely research more. Great Video, seems very straightforward and informative… Thanks so much….
How is the Health Care in the DR? Retirees need to consider cost and quality of Health Care wherever they plan to retire.
Great information. Thank you
Counting the day I can retire there here in the us with my retirement I have to be cutting cupón there I can live like normal plus whether thanks for info I bean doing. my home work
Thanks for sharing this. Can you please mention few north coast resort towns to purchase property. Thank you.
Best info thx
Wow ❤
This is a special video! Was launched the 02/02/2020!
My beautiful country
activo desde Allentown pennsylvania durisimoooo rep dominicana
Thank you so much for the information very important...
A pity it's still 10 years before i can retire :)
It goes by quicker than you think!
3 more years for me!! I’m ready to move to DR ASAP👍🏼
Only 8 years left 🎉
Fantatico es mí pais
Con dinero, la RD es una maravilla!
@@maryannwaters339en todas partes
Wuow bellísimas Dominicana yo soy de ayas
Me quiero retirar en tu isla!!!
I got 7 months to retire how do I contact your agency or to start the process to get the passport
Great info!
Beautiful place. Id like to talk to an expat
Don't listen to her, head down and find out on your own, she almost screwed us
It is normal, that foreign rental income is not taxed. However, most countries deduct withholding tax on the social security income and the important question is, whethter or not you get this withholding tax refunded. And there is the big problem with DR. Currently there is no double taxation treaty for ss-income at all! For dividends, there are treaties, but not as favourable as it should be, meaning, big parts of withholding taxes are lost as well. As a result, the lost withholding tax is extremely high taxation and only fot that reason, you should not choose DR as retiree domicil.
Further buying real estate is another tax trap, because real estates are multiple taxed:
- income
- capital gain
- inheritance
- real estate tax
All of them are rather high. If that is not enough, also the consumer tax is very high, especially for petrol and VAT. Even health care services are taxed on VAT.
The legal concept "caveat emptor " applies to buying property in this country. Caveat emptor means buyer beware.
Like beware of buying in the states too with houses full of termites and bad roofing
What if you will not have the $1,500 a month from SS but only say $1,200? My wife is a Domincan by birth and we have an apartment that is paid for in Santiago. This will obviously lower our living expenses. I have been trying to figure out how to approach applying for a pensionado visa with less than the required $1,500 and the additional $250 for my spouse. Would she even need to qualify if she is already a Domincan by birth? Any ideas? Thanks, Nick
hey Nick, you guys do not need "pensionado visa" ...your wife is a Dominican citizen if she was born there, and for you if you guys are legally married then you get award Dominican citizenship for being married to a Dominican...
@@reyvaldez23 Thanks for your reply. Yeah that makes sense. I saw the same on a Dominican Attorneys YT channel. Are you living in the DR and is this how it worked for you? Thanks again, Nick
@@nickboork I’m still in the states but I’m planning to retire there in few years, I go there all the times, I’m already preparing to be ready when the day comes…I have duo citizenship, Dominican/ American. My wife is American but she’ll become Dominican once we move…
@@nickboork I’m still in the states but I’m planning to retire there in few years, I go there all the times, I’m already preparing to be ready when the day comes…I have duo citizenship, Dominican/ American. My wife is American but she’ll become Dominican once we move…
@@reyvaldez23 Is your first name Rey? Sounds like we have similar plans. My wife Yngris and I talk about retiring to the DR all the time. I have less than 5 years to go till I'm 62 and planning on taking SS asap! It seems like there is a steady increase in expats retiring to the DR. We will be living in Santiago when we do make our move. Good to connect let's keep in touch.
*** Good day. I will be in DR in december for four months planning to retire there. Why do you say houses are cheaper in the north compare to Punta Cana in the south?? Punta Cana is located on the east side !
yes
Check Puerto Plata. I heard is very nice there.
Just started recieving my SS but because I retired at 62, my monthly payment is $1,275/mth
Go go please dont stay , in USA
While more than half of the population is living in deplorable conditions.
What about the destabilizing factor of the flood of migrants from Haiti?