- Buyer’s Resources
Punta Cana is a part of the Coconut Coast known for lavish resorts and a 32 km stretch of clear water beaches. Situated in the heart of the Caribbean, the Dominican Republic’s rapid economic development and consistent tourism growth attract tourism. Who doesn’t want to go snorkeling with dolphins? Zip-lining, windsurfing, kayaking, and sailing are other popular excursions. Vacation rentals are excellent property investments in Punta Cana. 8.5 million tourists visited Punta Cana in 2022.
The Dominican Republic has the fastest-growing economy in Latin America and the Caribbean. Foreclosed properties are rare in Punta Cana. The Word Bank states that “the robust growth performance continues in 2022, with GDP reaching in the first half of the year a 5.6% y/y growth” in the Dominican Republic.
Is Punta Cana dangerous for tourists? The crime rate in Punta Cana is low. Politur, the Dominican Republic Tourist Police, was formed in 1975 to protect travelers. They patrol on land and in water, using cars, horses, and jet skis. There are more crimes committed in Florida than in Punta Cana. The Dominican Republic is the safest destination in Latin America. Punta Cana is much safer than comparable tropical destinations, like Cancun, Mexico.
Luckily for investors, Punta Cana’s tourism is unrivaled. Travelers want a cheap way to experience sipping a piña colada under a palm tree and getting caught in the rain. Direct flights are available in most major Canadian and American cities.
Residency and Time Allowed in the Dominican Republic
If you plan on staying in the Dominican Republic for over a month, you must obtain a residency visa. No restrictions or visas are required for short-term stays, but getting a residency visa is necessary for those who plan on spending winters or living in the country. The process is straightforward as long as you can prove your income, have a valid passport and are in good health with no criminal record. A residency visa does not affect your citizenship or passport in your home country. The cost of obtaining a residency visa is typically around USD 2-4k per person.
Life on the Island (Communities, Languages, Activities, Banking, Health Insurance, & Pets)
Living on the island requires specific considerations such as healthcare, banking, communication, power supply, and transportation. It is recommended to purchase local insurance for medical and dental care, which costs around $700 to $1500 per year, depending on the coverage. The Central Bank regulates the Dominican banking system; the national currency is the Dominican peso. Communication services are available from various providers, with Codetel and Orange being the most popular for landlines and cell phones, respectively. Codetel and cable providers offer Internet connection and free Wi-Fi services in most areas. UPS, FedEx, Caribe Tours, and the Metro Bus provide delivery services. Power outages are frequent, so many homes have backup power sources like inverters or generators. Tap water is unsafe for drinking, but clean drinking water can be easily purchased in storage containers.
Housekeeping, gardening, and pool care are available at different monthly rates. Bringing pets into the country requires specific documents such as vaccination certificates, and airlines may restrict the number of pets that can be transported. Driving is on the right side of the road, and a North American or European driver’s license is valid for three months. A Dominican license is required for extended periods and can be obtained after residency. Public transportation is available by air-conditioned coaches and minibuses, with the latter being the more affordable option, but it may be crowded at times.
Bringing your pets to the Dominican Republic is a straightforward process for traditional animals like cats and dogs. Cats must have proof of a rabies vaccine administered at least 30 days before their arrival, while dogs need certification of inoculation against various diseases given no less than 30 days before their departure, along with a health certificate issued 15 days before arrival. Fortunately, there’s no quarantine required for either dogs or cats. Before your trip, it’s a good idea to contact your carrier to learn more about the process and associated costs and to book your reservation well in advance, as some airlines may limit the number of pets permitted on board. If you’re returning to your home country with your pet, schedule a veterinarian visit at least a week before departure to receive a health certificate.
The Dominican Republic is a beautiful country in North America’s Caribbean region, famous for its beautiful natural scenery and colourful culture. Its scenic landscapes and seascapes offer visitors and residents breathtaking views. Numerous turquoise beaches, lush green forests, majestic mountains, cascading waterfalls, and vibrant cities characterize the country. Bavaro, Punta Cana, and Juan Dolio are our favourite beaches. Visitors can relax, sunbathe, and indulge in water activities such as snorkelling, scuba diving, and surfing.
The natural beauty of the Dominican Republic extends beyond the beaches, boasting several national parks and protected areas. The Parque Nacional Los Haitises, Parque Nacional del Este, and the Parque Nacional Jaragua are just some of the protected areas in the country that are home to a diverse range of flora and fauna, including endemic species.
The country’s culture is also a significant part of its beauty, with a fusion of African, European, and indigenous influences. The vibrant music, dance, and cuisine of the Dominican Republic reflect this unique mix of cultures. The country’s capital, Santo Domingo, is home to the oldest colonial city in the New World, with its historical buildings and cobblestone streets.
The Dominican Republic is a beautiful country with diverse natural and cultural attractions, making it an ideal destination for travellers seeking a unique and memorable experience.
Weather & Climate
The Dominican Republic is an attractive option for Canadians and Americans looking to move abroad, with a mild and stable climate that offers year-round warm and humid conditions typical of the Tropics. The country experiences only two seasons, summer and winter, with a slight variation between them. The temperature ranges from 20‐25˚C in the winter months (December to February) to 25‐27˚C in the warmer months of June to August and September to November. The wet season occurs between May and November, during which most regions receive at least 100‐200 mm of monthly rainfall.
The Dominican Republic is fortunate to be located in a Caribbean region that is typically unaffected by hurricanes. The country’s north coast is not usually affected by hurricanes, and the south and east coasts are more susceptible to hurricanes during the Caribbean hurricane season, which runs from June to November. August and September are the most active months for hurricanes.
Government in the Dominican Republic
The Dominican Republic is a popular destination for Canadian and American expats looking to move abroad due to its beautiful climate, affordable cost of living, and friendly locals. However, before proceeding, it is crucial to understand the country’s government structure and how it affects daily life.
The Dominican Republic has a presidential system of government, with the President serving as the head of state and government. The country’s legislative branch consists of a bicameral National Congress, which is responsible for creating and passing laws, approving the national budget, and overseeing the activities of the executive branch. The judiciary is independent, with the Supreme Court of Justice serving as the highest court in the land.
Expats in the Dominican Republic are subject to the same laws and regulations as locals, and they must abide by the country’s immigration laws. Canadian and American citizens can stay in the Dominican Republic for up to 90 days without a visa, after which they must obtain a residency permit or leave the country. Securing residency can be lengthy and complex, and it is essential to seek legal advice before beginning the process.
The cost of living in the Dominican Republic is relatively low compared to Canada and the United States, with housing, food, and transportation being remarkably affordable. However, expats may find certain imported goods and services more expensive due to tariffs and taxes.
The Dominican Republic’s healthcare system has improved in recent years, but it still lags behind that of Canada and the United States regarding quality and accessibility. If necessary, expats can obtain health insurance covering any medical treatment in the Dominican Republic and medical evacuation to their home country.
The Dominican Republic has a thriving tourism industry, with over 6.5 million tourists in 2019. Canadians and Americans are among the top visitors to the country, with 929,000 Canadians and 2.7 million Americans visiting in 2019. The government has free trade agreements with Canada and the United States and is a popular destination for economic investment.
The Dominican Republic can be an excellent destination for Canadian and American expats looking to move abroad. However, it is vital to understand the country’s government structure and regulations, seek legal and medical advice, and research the cost of living before moving.
Foreign investment taxes in the Dominican Republic are indeed low, which is one factor that makes the country an attractive destination for foreign investors. The country has a stable and predictable regulatory environment, and the government has been actively encouraging foreign investment in various sectors of the economy.
Foreign investors in the Dominican Republic are subject to the same tax laws and regulations as domestic investors. The corporate tax rate is 27%, which is relatively low compared to many other countries in the region. Tax incentives are also available for specific industries, such as tourism and renewable energy.
In addition to low investment taxes, the residency requirements in the Dominican Republic are relatively simple. Several residency options are available for those looking to move to the country, including investment residency, retirement residency, and family residency. The investment residency program requires a minimum investment of $200,000 in real estate or a business in the country. In contrast, the retirement residency program requires proof of a monthly retirement income of at least $1,500.