Dominican Republic has a lot to offer for the foreigners. Growing economy, stable government, low cost of living and beautiful weather are just a few things why the country is so attractive to many investors, expats and retirees who are looking to settle in a tropical paradise. People that want to experience living in a tropical country usually choose Dominican Republic as their first option.
Why Foreigners Love Dominican Republic
- The most obvious reason why foreigners choose to move in the Dominican Republic is the reasonable prices and affordable cost of living. There are plenty of housing options and low-cost apartments to buy or rent. Dominican Republic is ideal for living on a budget, and with a couple of thousand dollars per month you can live a really good life and enjoy numerous entertainment options. This is if you rent but if you invest in buying a property then the cost of living will be much less. You can find some real good bargains in comparison to other countries in the Caribbean.
- Another reason why foreigners move into the country is that there are numerous amenities designed for the expat community. White sandy beaches, warm crystal-clear water, plenty of sunshine and tropical palm trees can be seen everywhere. The way of life in the Dominican Republic is very relaxed and sophisticated. The colonial architecture is influenced by the European nations, especially the capital of Santo Domingo. Dominican Republic has plenty to offer – from shopping and dining options to museums, cathedrals and sports stadiums. There are plenty of International products and in most towns you will find multicultural communities.
- What makes Dominican Republic good place for easy living are also the improved infrastructure like roads, airports and new highways. All places are well connected on the island so you can quickly explore everything the country has to offer.
- Dominican Republic is attractive for retirees because the government encourages foreigners to choose this country as a place where they will retire with many different benefits and tax breaks. If you show a proof of steady monthly income then you and your closest ones can qualify for getting a provisional residency in less than two months.
- Besides retirees, Dominican Republic is attractive for different entrepreneurs and investors because of the local tax incentives provided by the government. Foreign investors are welcomed in industrial free zones where they can set up their business and get some tax breaks. Depending on the type of your business, you can qualify for exemption of corporate and income taxes, value added tax, export tax, municipal tax and others. It does not matter whether your business is big or small because anyone can take advantage of the nice tax incentives provided by the Dominican Republic`s government.
As you can see, there are many reasons why foreigners come in the country and choose to stay in the Dominican Republic. A tip from locals to foreigners is to us apps like MNF to meet residents. Consider all of the above and choose Dominican Republic as your ideal tropical paradise to live in.