Dominican Republic Investment Visa – Application and Types
Do you know that you can become a citizen of the Dominican Republic without visiting the country? Of course, it is possible only through the Dominican Republic Investment Visa, which allows foreign nationals to attain citizenship status from their nation.
However, you must either donate to the government or invest in real estate in the country.
Over the years, Dominican Republic has become the fastest country for investors to gain residence permit status. Thus, if you can contribute to the economy, you can live in the country with your family as citizens.
Find out the easy way to gain citizenship in the Dominican Republic without stress. The requirements, steps, fees, processing time, and many more.
What is the Dominican Republic Investment Visa?
The Dominican Republic Investment Visa allows foreign investors to acquire citizenship by investing US$200,000 in the nation. Through the investment in the Dominican Republic, the foreigner and his family can live in the Dominican Republic as permanent residents. Then, later, they can attain citizenship status in the country.
However, the investment must be under the Foreign Investment Act No 16-95.
The investments can be in the form of investing in a Dominican entity, a fixed term deposit, stocks or securities, or even acquiring a real estate property.
Ways to participate in the Dominican Republic Investment Visa program
You can participate in the Dominican Republic Investment Visa Program in two ways. They include:
- Donation to a government fund
- Investing in real estate
Donating to a government fund
Donating to a government fund is the simplest way to participate in this program. A single applicant t can start with a donation of $100,000. And for a family of four, the minimum amount is #200,000.
Investing in real estate
The second option to participate in the Dominican Republic Investment Visa is investing in real estate in the country. Thus, you can put your money on any property in the Dominican Republic. The minimum amount for this program is $200,000.
Eligibility criteria for the Dominican Republic Investment Visa
To participate in the Dominican Republic Investment Visa program, you must meet the following eligibility criteria. They include:
- You must be free from contagious diseases
- You must be free from mental illness
- You must have a clean criminal record
Benefits of the Dominican republic Investment Visa
The benefits of the Dominican Investment Visa include the following:
- You are allowed to maintain dual citizenship
- You can live in the country with your family
- You can own land in the country
- You may not reside physically in the Dominican Republic
- No language skills required
- No interview required
- You will have free access or a visa on arrival to 56 countries
- Enjoy a low-cost citizenship
- You will have the legitmate right to live and work in the Dominican Republic.
- You will enjoy the educational and healthcare benefits
Documents for the Dominican Republic Investment Visa
In addition to the eligibility criteria for the Dominican Republic Investment Visa, applicants must also have some requirements. Therefore, you must provide the following documents while applying for this visa in the Dominican Republic. They include:
#1. Application form for the Dominican Republic Investment Visa
Firstly, you will need an application form for the Dominican Republic Investment Visa. You will indicate your intention of traveling to the country in the application. In addition, you also provide the following information. They include:
- your nationality
- place of birth
- time of travel
#2. Certified copy of passport
You will also have to provide your passport. The international document must have at least six months of validity from the day you apply for your visa. Plus, it must be in good condition.
#3. Original or Certified copy of Birth Certificate
You will also provide your birth certificate if the Dominican authorities demand it from you.
#4. Original or Certified copy of Marriage Certificate
In addition to the birth certificate, the officials may also need your marriage certificate.
#5. Original Police Clearance Certificate
You will require a police clearance certificate from your local authorities. It will confirm that you have a clean criminal record in your country of origin.
#6. Evidence of Health Insurance
You will also need health insurance from an accredited insurer. It will show you have enough money to cater for your health anytime you visit the Dominican Republic.
#7. Medical Certificate
A medical certificate will confirm you have good medical conditions. Therefore, you don’t have a contagious disease or mental illness that is dangerous to the public.
#8. Nine passport-size photos
You will need nine pictures that are of the same size and colour. The photo must show at least 80% of your face.
#9. Affidavit of support for Dependents
You also need documents supporting the claim for your dependents.
#10. A letter signed before a notary by a Dominican or permanent resident
A Dominican or permanent resident of the country must sign a letter before a notary indicating that you will not be a nuisance to the Dominican Republic in the future.
#11. Certificate of Investor
You will require a certificate issued by the CEI-RD (Export and Investment Center of the Dominican Republic). It will confirm that you have invested the right amount of money in the country.
#12. Original and copy of the Act of the administrative board of the company
Shareholders in a company must provide the Original and photocopy of the Act of the Administrative Board of the company.
#13. Bank letter
Your bank in the Dominican Republic must give you a letter to show that you have a bank account in the country. Otherwise, you will not obtain your Dominican Republic Investment Visa.
How to apply for a Dominican Republic Investment Visa
Applying for a Dominican Republic Investment Visa is not easy. However, we have gone into research to make the process achievable for you. Therefore, you have to follow the steps below when you plan to enrol on the program. They include:
Step1. Contact the embassy or consulate of the Dominican Republic in your country of origin.
First of all, you have to contact the embassy of the Dominican Republic in your country of origin or residence. Then, get all the information you need about the Dominican Republic Investment Visa, including the application form and requirements.
Step 2. Complete an application form for the Dominican Republic Investment Visa
Secondly, you have to complete an application form for the visa. You must provide the correct information while filling the spaces in the application.
Step 3. Gather your documents
Thirdly, gather all the documents you need for your Investment visa in the Dominican Republic. You must not miss any documents. Otherwise, you will not obtain a permit to invest in the country.
Step 4. Submit your application and other documents for the Dominican Republic Investment Visa
Fourthly, submit your application to the embassy of the Dominican Republic in your country of origin or residence.
Step 5. Wait for a reply from the Dominican Republic embassy in your country
Fifthly, wait for a response from the embassy about your visa application. Once the embassy decides on your permit, you will get a reply from them. Thus, you can visit the Dominican Republic anytime you wish.
See Also: Guide on how to apply for the Dominican Republic Short Stay Visa
Frequently Asked Questions
Are there restrictions on an investment visa to the Dominican republic?
No, there are no restrictions for any country to participate in this program. Applicants who meet the requirements for the visa can apply irrespective of their country of origin.
Will you renounce your citizenship to participate in the program?
No, you will not renounce your citizenship if you become a citizen of the Dominican Republic through the Investment Visa program. The Dominican Republic recognizes dual citizenship.
How much do I need to apply for Dominican Republic Investment Visa?
The amount you need for a Dominican republic Investment Visa depends on the number of applicants. A single applicant will need a minimum of $100,000 for the program. However, a family of four can qualify for the program with an investment of $200,000.
How long does it take to become a citizen of the Dominican Republic through the investment program?
You can become a citizen of the Dominican Republic 24 months after obtaining your investment visa in the country. However, you can become a p[permanent resident after three months of getting your entry permit to the Dominican Republic.
Can I renew my residency permit in the Dominican republic?
Yes, you must renew your permanent residency permit in the Dominican republic after 12 months. However, you must extend your Dominican Residency permit every four years after your first residency extension in the country.
Conclusion
In conclusion, getting a permanent residency permit in the Dominican Republic is now easy. However, you must apply for the Dominican Republic Investment Visa program. Therefore, you can follow the guidelines about the permit we have provided in this blog post. Plus, you will need the requirements above to obtain your investment visa to the country.
Above all, you have to contact the embassy of the Dominican Republic in your country of origin or residence to get the full details about the program for the nationals and residents of your country. Once you follow these guidelines strictly, you will obtain your Dominican Republic citizenship through this program.
