I moved to the DR because

We started vacationing here and fell in love with the beauty of the country and the warm, welcoming nature of the people!

We moved here for the same reasons and because we were able to retire a lot earlier here - mainly due to the insane prices of health insurance in the US if you're not working but too young for Medicare!

I expect many don't understand the tax benefits of leaving one's home country.
Americans get little benefit.... others much more

If you pay 25% in taxes....
you can improve your retirement income by 33.33%
Net $60,000 will be $80,000..... almost $2,000/month more

After tax 75% jumps up 1/3 to 100% when untaxed
For many, that's the difference to much more comfort - a better lifestyle
Couple that w/ the DR cost of living....

A lot of people protect their Cdn residency for their health care -
Just calculate your income increase and see how much you have to for ex-pat coverage
Mine even covers me in the US.... Cdn does not !

Win/Win situation

When your work is in the Caribbean, you begin to consider where to make your base.

Living on the small islands is limited and 'rock fever' soon kicks in.

DR being so much bigger gives one options and to add had a very easy and inexpensive route to residency. Cost of living was much less too.

Now when older I look at some of my friends who opted to stay and make their lives on the small islands and the costs have continued to rise as they get older. It will be hard for them to survive the small island retirement without a very big cash reserve.

Definitely.... the size was an important factor in our decision too
Small & $$$ = Bermuda

That - plus, a 'no minimum stay' requirement that many islands have.

Back then (2008), residency was an easier process than today.
One yr temp.....

Did you give up residency of your home country or added DR?

To be exempt of all UK taxes you notify non residency which takes effect after one whole tax year (qualifying period) abroad. Thereafter you are limited to time stayed in the UK each tax year. You are considered resident if you have a property/home there.

Still a UK Citizen

DRVisitor
I left Canada in 1995.... moved to the USA
Had visa status - avoided Green Card until 2008/9 when I came to RD

lennox
Yes, visits to USA & Canada are restricted to less than 6 mo
To leave Canada, you file an 'Exit Return' indicating your leaving
After that, you are not a resident.....
The home ownership may be the same ruling as the UK....

Although I am a DR citizen, I only carry/use my Cdn one

Question: my husband is a German citizen and holds a green card, not a citizen of US. When we retire to DR, I know I will always be paying Uncle Sam taxes...but would my husband? He qualifies for social security in 7 years...so I know that will be taxed, but what about his German pension? Anyone experience this???

Let's stay on topic please.  Open a new thread to get into details of tax issues.  Thanks!

Some people actually do choose a country of residence based on the tax treatment.

A factor that can weighs quite heavily in some decisions.
Plus, it is a misunderstood issue for many

The thread is 'I moved to the DR because'........

Taxes is an answer...

I absolutely agree it is a reason.  I don't want the conversation going too far into the ins and outs by country.  That's a separate thread.  And a good one!

Correct. Moving abroad for tax reasons is something that motivates many expats whether here or elsewhere.

DR offers that option plus cost of living plus ease of residency plus diversified living plus sand sea and sun and more.

It is not yet on the A list of expat retreats being under the radar for many. Most foreigners know DR from Punta Cana and Sosua.

Very narrow reference imo.

Because of the weather and low cost of living

brodies2013 wrote:

Question: my husband is a German citizen and holds a green card, not a citizen of US. When we retire to DR, I know I will always be paying Uncle Sam taxes...but would my husband? He qualifies for social security in 7 years...so I know that will be taxed, but what about his German pension? Anyone experience this???

I am Cdn and have worked in the US...

I get both a Cdn & a US pension... old age/retirement type

He can cancel his Green Card..... and will not be liable for taxes.... I am not

I held a Green Card in the late 70's and gave it up
Subsequently, I only used visas - the ones I needed

He should be fine, but should get residency ASAP to show he is officially residing here.

Ultimately, you need to show residency somewhere.....
the 'Citizen of the World' idea does NOT work - trust me!

Hmmm…he qualifies for US social security payments when he turns 62…will that be affected should he cancel green card?

It didn't affect my payments......

I get both - as stated above - Cdn & US.... a resident of neither.
Cdn citizen....

@Willi:
Yes, taxes are lower in DR, but concerning Germany, if you leave the country they keep a much higher amount of your pension as german tax.
As long as you stay in the country the first 9.000 $ per year are freed from tax. When you leave, they take the full tax level beginning from the first Cent you have. Kind of punishment, so it seems to me.

I am not yet sure, to leave Germany 'officially'. Of course I will not have an additional flat / postal adress in Germany, because that takes an amount that allows you to pay everything in DR for the whole month.

Not yet clear about the solution in my case.
Only thing I am sure about is to take the plane to DR onn1st of august.