With a stable government and a steady economy that grew by 7.1 % in 2014, the Dominican Republic is ripe and ready for expats, retirees, and investors looking for a safe and affordable option in the Caribbean. What makes the DR so attractive right now? I put it down to 5 things:
1 – Prices Represent The Best Value In The Caribbean . From real estate to the general cost of living, it can be hard to believe you’re in the Caribbean. Prices across the board are more Latin American. You could live comfortably in the DR on a budget of $1,200. With a budget of $2,000, you could afford more entertainment and extra household help, for example, and really enjoy the good life.
Invest in a place of your own, and your monthly living costs would be much, much less. Property prices in this country are a bargain, certainly relative to elsewhere in the Caribbean. You could buy an apartment for very low prices.
2 – The Established Expat Community Means Amenities And Services You Won’t Find Elsewhere In The Caribbean. White-sand beaches, swaying palm trees, warm turquoise water, year-round sunshine — you’ll find them in abundance here in the Dominican Republic; What sets the DR apart from other Caribbean islands and nations is its more sophisticated lifestyle — one that is strongly European.
In Las Terrenas, for example, on the Samana Peninsula, you’ll be welcomed by locals and expats alike. And you’ll enjoy a wide range of international products (from patisserie-baked pain au chocolat to German salami to Swiss cheese) thanks to a diverse and multicultural local community. This could be the paradise you’ve been looking for.
3 – Developments In Infrastructure Make For Easy Living. Recently upgraded airports mean you can get to the Dominican Republic from the U.S. East Coast in two hours. On the island, new highways have cut journey times out of the capital by half and more. Best of all, this easier accessibility by both road and air has helped reduce day-to-day living costs.
4 – Easy Retiree Residency. The government of the Dominican Republic is welcoming of foreign retirees. If you can show proof of a monthly pension of $1,500 (plus $250 for each person you’ll be bringing with you), you can qualify for provisional residency in just 45 days. And, as with other retiree residency programs in other countries, qualifying comes with perks, benefits, and tax breaks.
5 – Not Ready To Retire? The Red Carpet Awaits Investors And Entrepreneurs, Too… With its central location in the Americas, a fast-developing infrastructure, and a generous package of tax incentives, the Dominican Republic is one of the best places in the Caribbean region to do business. All while living in one of the world’s warmest, safest, and friendliest havens.