Is Dominican Republic a tax haven?
Although the Dominican Republic is not considered a tax haven, it has a territorial tax system, which means you can live there tax free as long as your income comes from abroad (this also applies to businesses).
Second passports
Another attractive fact about the Dominican Republic is that after two years of residence, you can apply for a second passport and have dual citizenship. As long as you have been a good citizen, there should be no issues on obtaining your new passport. You can obtain your dominican pasport for around $10k to $15k plus the two years of residency.
The Dominican Republic lifestyle
The island is certainly a good place to live, specially for people with income from other countries. The capital Santo Domingo, is a modern cosmopolitan city with a colonial feeling to it and a fascinating culture. The Dominican Republic was colonised by the Spanish, and the Americans were responsible of its deveplopment. It is a very diverse country, in Santiago, on the north coast, there is a considerable jewish population and even parts where French and Italian is spoken.
Moving to the Dominican Republic
Surprisingly, the Dominican Republic is not amongst the most popular places to retire. This is actually beneficial, as it gives good value to real estate and obtaining your citizenship is quite easy. In short, making business can be as good as the weather!
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