Certificate of Foreign Investment Registration AND Pro Dominican

Post new topic

ondami Contributor

Member since 25 July 2023

ondamiContributor01 January 2024 19:00:40

133

Happy New Year all!

I am not exploring the Investment Visa and saw that one of the requirements for this route is to get a Certificate of Foreign Investment Registration within 180 days of an investment.

Additionally, I saw on one site that to do so one must contact or register with Pro Dominican. Not sure what Pro Dominican is; hence, my question(s).

1) Who or whom do I contact for the Certificate of Foreign Investment?

2) Can one meet the $200,000 investment requirement via: a) property ownership, and b) investment in Certificates of Deposit (CDs) with a bank in DR? If so,

3) Do I have to invest monies in CDs with a Dominican bank or can I investment monies in a bank like ScotiaBank in Bavarro/Punta Cana area?

Much thanks for your help!

And HAPPY NEW YEAR!!!!

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert01 January 2024 22:27:29

17122

Those do not qualify. Investments must be in an active business that creates employment. That is the intent of this category.

Residency by "pension" type income or "rent or inactive" income is a separate category.

If you intend to qualify as an investor my best advice is get a residency lawyer to assist.

ondami Contributor

Member since 25 July 2023

ondamiContributor02 January 2024 13:35:48

133

I appreciate the clarification planner.

Have a grand day!

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert02 January 2024 14:26:41

17122

De nada!

ondami Contributor

Member since 25 July 2023

ondamiContributor03 January 2024 18:44:45

133

@planner this part of the Foreign Investment Act 16-95 that throws me with regard to investing in other financial instruments like CDs.

“…or other financial instruments authorized by the Monetary Board.”

Direct quite from FIA 16-95 on DR embassy website.

Articles to help you in your expat project in Dominican Republic

Citizenship in the Dominican Republic
Suppose you got tired of renewing your residence permit. In that case, you simply want to commit to the ...
Traveling to the Dominican Republic
Before traveling to the Dominican Republic, whether for tourism, to work, to study, or to settle down, it is best ...
Retiring in the Dominican Republic
Many retirees, or those reaching retirement age, like to visit the Dominican Republic and end up falling in love ...
Getting married in the Dominican Republic
If you are wondering what it's like to get married in the Dominican Republic, this article is for you.
Death in the Dominican Republic
What customs and procedures are common when dealing with death in the Dominican Republic? Find more about it in ...
Divorce in the Dominican Republic
The Dominican Republic offers a number of types of divorce, the most common of which are divorce by mutual consent ...
Birth in the Dominican Republic
This article provides some information about the culture and the customs of Dominicans when giving birth and ...
Working in the Dominican Republic
If you are looking for a job in the Dominican Republic (DR), here are some tips and suggestions. Job hunting can ...