living in the dominican republic

living in the dominican republic

Postby mjac » Thu 14 Jan 2010 17:53

Hi, we are considering retiring to the Dominican Republic and have read about residency applications, but are still unsure as to whether there are any monetary requirements. If so,what are they?
Are there any particular areas that have cheaper permanent/long term rental charges and cost of living?
Does anyone know how the cost of living compares to Goa?
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Postby DRAddict » Wed 21 Apr 2010 05:30

There are two stages of Residencia in the DR - temporary & permanent. If you are fluent in Spanish you can handle both yourself for about RD $10,000 (just under US $300) & RD $8,000 (just over US $200) respectively. However, if you are unsure of your way around the bureaucratic systems of the DR you would be best advised to get a lawyer to handle obtaining at least the temporary Residencia for you. His/her fee will probably be in the region of US $600 - 700 but it WILL include all the running around on your behalf, the obtaining & organising of all documentation required AND the medical fees needed etc.

You SHOULD have financial reserves &/or assets to the level of US $50,000 but this can be (& often is) circumnavigated by the lawyer. Similarly the need for a sponsor. You WILL need to bring a statement of good conduct from your local police/law enforcement authority proving you have not been a naughty boy & girl in Goa!!

Sorry, I can not help you with cost comparisons between the DR & Goa as I do not know what things cost there. However, if it helps you any a reasonable 2 bedroomed house in a fairly safe area will cost between US $90,000 & US $150,000. Telephone with internet (0.512 MB transfer rate & called FLASH) costs from US $90 per month inc taxes, Petrol is US $5 (variable month to month depending on crude import prices) per gallon & gas (propane) is US $40 per 100 lb tank. OUR monthly food shopping basket (for two & two normally hungry dogs) is US $600 but car purchase is high against a USA equivalent!

Hope this helps & please come back for more if you need to.
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