Unsung Programs Part 7: The Dominican Republic’s 6-Month, $200,000 Path to Citizenship

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There are 11 programs around the world that we typically consider citizenship by investment programs (CIPs): The Caribbean 5, Malta, Vanuatu, Egypt, Turkey, Jordan, and Cambodia. But we should, perhaps, add a 12th program to that list: The Dominican Republic’s Investor Visa.

General Requirements for the Dominican Republic Investor Visa

The General Law on Migration No. 285-04 and the corresponding regulation No. 613-11 state that foreign investors who invest US$200,000 or the equivalent in another recognized currency are eligible for immediate permanent residency. While termed “permanent residency,” the permit is initially valid for just one year, after which it is renewable in four-year increments.

The law does not stipulate any limitations on asset classes, so, in principle, the applicant is free to invest in local businesses, shares, securities, or real estate, among other things. The law further states that, if the applicant invests in a Designated Investment Project, the minimum investment amount is to be set by the Dominican Republic Export and Investment Center (CEI-RD).

This means, at least in theory, that the minimum investment amount could be even lower than $200,000, which represents an opportunity for enterprising investment migration advisories to engage the government in a discussion around structuring a Designate Investment Project at the right price point.

Why it’s effectively a citizenship by investment program

Now, on the face of it, this is just a residence by investment program, which is also how the program is termed in the legislation. But what many investment migration market observers don’t know (indeed, it had also escaped the attention of this venerable publication until recently) is that Law No. 1683 on Naturalization also provides for the expedited naturalization of individuals who can demonstrate “at least six months of uninterrupted residency in the country, if he has founded and sustained urban or rural industries, or if he is the owner of real estate located in the Republic.”

In other words, if you own real estate in the Dominican Republic and you live there full-time for at least six months, you are eligible for naturalization.

This, of course, is not a direct CIP like those with which we are familiar in the Caribbean. And you do need to live in the country for at least six months. But it’s still faster than Malta’s MEIN, which most consider a CIP even though it takes a minimum of 12 months to obtain citizenship in Malta under that policy.

Another advantage of the Dominican Republic’s program is that you only really need to hold on to the asset for a short while if you intend to get citizenship. If you just want the permanent residency, it may be necessary to maintain the investment indefinitely. But if you become a citizen, you are free to divest as soon as you have your passport since citizenship is not conditional.

What does a Dominican Republic citizenship offer?

Because it doesn’t offer visa-free travel to Schengen, it’s not in the top flight of citizenships. According to the Henley & Partners Passport Index, the country’s passport comes with visa-free access to 74 destinations globally. Nonetheless, this passport affords visa-free travel to several attractive destinations, including Russia, Japan, South Korea, Brazil, Turkey, and Singapore. In other words, it’s a Tier 3 passport.

As far as we know, the program also remains open to Russians and other discriminated-against nationalities.

Moreover, since the Dominican Republic is part of the Ibero-American community, its citizens are considered to have “preferred nationalities” in many Latin-American countries, giving them shortened naturalization periods in the following countries (even those who are not naturally-born Dominicans):

• El Salvador: 1 year (normally 5)
• Honduras: 2 years (normally 3)
• Mexico: 2 years (normally 5)
• Panama: 1 year (normally 5)

Learn more about how long it takes to get citizenship in each Latin American country under various circumstances (if married to or parent of a citizen, if originating from a preferred country, or under ordinary circumstances) in our recent article: How Long It Takes to Get Citizenship in 21 Latin-American Countries.

What does $200,000 get you in the Dominican Republic?

$200,000 goes quite a long way in the Dominican Republic. Below are some examples of properties in the $200,000 price range:

1. This 115m², 2-bedroom, 2-bathroom apartment just 100 meters from the beach.

2. This 140m² 2-bedroom, 2-bathroom condominium with pool access.

3. This brand-new one-bed, one-bath in Sosúa.

See more articles from our Unsung Programs series:

• Unsung Programs Part 6: Mauritius Investor PR – Instant PR for US$375,000
• Unsung IM Programs Part 5: Argentina’s Rentista and Pensionado Visas
• Unsung IM Programs Part 4: Philippines Special Investor Residence Permit (SIRV)
• Unsung IM Programs Part 3: Brazil’s Permanent Residence Investor Visa (VIPER)
• Unsung IM Programs Part 1: Andorra Residence Without Lucrative Activity