Although it is possible to stay in the Dominican Republic without obtaining the official residency permit, there are many reasons why it is better to do so. Reasons include:
- A legal resident can work and do business legally in the Dominican Republic - a non-resident cannot.
- A resident is allowed to bring in his household items, ranging from kitchen appliances, to furniture, tax free. A non-resident must pay all applicable import duties on these goods.
- In case of inheritance, a non-resident beneficiary must pay a 50% surcharge on applicable estate taxes - residents are not subject to this surcharge.
- For many foreigners interested in not paying taxes in their home countries on income earned outside their home country, it is a prerequisite to obtain residency status in another country.
- A resident can enter the Dominican Republic without having to buy a tourist card; a non-resident must obtain a visa or buy a tourist card.
Should you wish to obtain your residency status, we can put you in touch with the right people to help you with the process.
For more detailed information, please visit Guzman Ariza Law Firm's website.