Dominican Republic economic citizenship
April 11, 2018 at 8:00 pm #1589
I got an advertisement for a real estate project that supposedly provides D.R. citizenship at a very low cost. I’m pretty suspect, but one interesting thing is that this same company was promoting a project in another country that I visited and that was quite legitimate (it didn’t lead to citizenship or residency though).
I’m including the entire email here:
Thank you for your initial inquiry into our latest project in the Dominican Republic.
Please find attached the information for your perusal.
· Perfectly located 5* Resort
· Minimum investment – $58,000.00
· Dominican Republic Citizenship & Passport Issued within 8 days
· Guaranteed 8% Returns for 10 years
· Current Capital Growth is at 7.5% Yearly
· Guaranteed Buy Back at Year 10
· Tax Free – No purchase or income taxes for 15 years
When buying a Royal Resorts property, we give you an option to apply for Dominican Republic citizenship and a passport, but more importantly, present an opportunity to become a permanent resident of Spain.
This opens up doors into the EU
By becoming a citizen of the DR you can then become a permanent resident of Spain in 45 days without the need to invest in Spanish property. We offer two different ways to achieve this.
Full freehold ownership of a 1-bed apartment is from $264,600 and for 1/12th fraction of the freehold, the price is just $58,000. No other program offers citizenship for such a small investment.
We don’t have a lot of fractions left at this price and that is why we have started promoting the opportunity at $58.000,00. If you are interested in buying at the lower price we would need to act quite quickly.
The legal fees for issuance of passports and naturalization papers – $6,400.00
(Absentee Fees) – $2,000.00
Arrangement Fees – $16,800.00
This includes all government and legal costs.
Overview video: https://www.dropbox.com/sh/byt2u50dabu21wm/AAAuiN3EI1Bs9ME6nz2TtZ4ca?dl=0&preview=Royal+Resorts+at+The+Rock+(2).mp4
Royal Resorts at The Rock offers luxury and spacious residences in the perfect location. Suites at the resort have been designed to the highest standard and benefit from fantastic orientation ensuring maximum levels of light and panoramic views of the Nicklaus Design golf course set in a backdrop of tropical lush greenery and Palm trees with the breathtaking white sandy beach just moments away. The Rock suites are also attended by a dedicated butler that creates an environment that anticipates and satisfies every need with seamless efficiency and gentle discretion.
Completion is scheduled for Q2 2018. During construction, owners can use all the facilities of the neighbouring 5-star Hard Rock Resort whilst receiving a 50% discount on an all-inclusive day passes.
Buyers of full units receive a complimentary all-inclusive one week stay for two at: The Hard Rock Hotel & Casino.
1 bedroom virtual tour: https://livetour.istaging.com/5948df357286700065fdd5dd
2 bedroom virtual tour: https://livetour.istaging.com/595244df9a446a00633da2d8
Here are details about the process and next steps:
• You’re only required to provide 2 documents 1) Birth Certificate (apostilled and Spanish translated); 2) Police Certificate (also apostilled and Spanish translated); and 2 x passport photos
Residency & Citizenship:
1. Your documents will be approved by the immigration lawyers.
2. Once your documents are approved you can either visit Dominican Republic (DR) to complete the immigration process and leave with your citizenship & passport within 8 business days – or complete the process without visiting the DR (the lawyers can complete the process on your behalf with what is called power of attorney). If you intend to visit the DR and require a visa, please provide your documents to register and approve you for the program and we will finalise dates for your visit and provide you an invitation letter.
3. Once you decided, you pay the government and legal fees to the immigration lawyers to expedite your citizenship.
4. When your residency and passport have been issued, pay your investment.
1. Minimum investment: $58,000 USD per family (husband, wife, and children under 21 years of age).
2. Fees: $6,400 USD per person if able to travel to DR to complete the procedures (plus an additional $2,000 USD per person to assign power of attorney and expedite immigration without the need to visit DR).
3. Arrangement fee: $16,800 per person
1. Complete attached qualification form
2. Send documents (as outlined above)
3. Pay invoice for legal and arrangement fees
4. Application process commences on receipt of legal fees and arrangement fees
5. Pay balance fractional investment on issuance of passport (note: final balance must be paid in full for client to receive passport)
The reason we are the only vendor offering such a low entry-level cost passport program for the DR, is solely due to our established relationships at the highest of levels. This provides us unique ways in which we can package this opportunity and enable our clients to benefit from our resources and established network.
It is also important to know that we are an established UK company that have to abide by UK laws and are a part of, and regulated by, entities such as the Property Ombudsman, AIPP and TSO trading standards.
I’ve attached a number of due diligence documents for you to go through so you have total peace of mind.
1. Investment citizenship programme letter of endorsement (CEI-RD), signed by the Secretary of State of the Dominican Republic.
2. Due Diligence document from the immigration law firm, outlining the process and which laws and programmes this project falls under.
3. Signed letter of endorsement from the Ministry of Tourism, both in Spanish and English.
If you want to speak to the immigration lawyers or existing clients, that would not a problem to arrange.
I’ve uploaded a quick video of one of our consultants explaining to a client how she verifies her citizenship papers on the government website. The website is: http://www.pgr.gob.do/
Here is a link to the video: https://youtu.be/pZcrR8wYhdM
I don’t know if I’ve mentioned this but clients through our programme qualify for a 15 year tax exemption so no income tax is due on investment returns, no stamp duty on purchase and no tax on foreign income.
The true value in the DR citizenship offer is the option to obtain a permanent residency in Spain. Spanish residency will provide visa-free access to all 26 Schengen countries; rights to live in Spain; right to work in Spain and other EU countries; and the right to eventual naturalised citizenship.
Other comparable programmes
If a client opted for another affordable program (eg; St. Kitts & Nevis) that does offer visa free travel, he would be required to make an investment of $400k plus costs and receive the passport in 9-12 months and a far more rigorous application process versus our offer of European residency in 60 days (or 18 months) with an investment of $58,000 + costs.
Spain has a closer relationship with the Dominican Republic than with any other former Spanish colony. The majority of the DR’s all-inclusive hotels are Spanish owned, part of more than US $10 billion worth of Spanish investments in the country. This underscores the level of economic and political cooperation between the two countries, and explains why both feel that relatively easy residency policies are in their mutual interest.
The DR passport through our investment scheme allows you to become a permanent resident of Spain very quickly for an incredibly low cost and in a very short time, giving you the right to live and work anywhere in Europe. This usually takes years to achieve and the minimum investment to make to gain residency through the golden visa programme in Spain is €500.000,00 property investment or €2.000.000,00 investment in government bonds (+ costs).
Either way, this program is ultimately unmatched.
I hope this gives clarity on the process and the incredible opportunity that this really is.
If you have any questions regarding the steps outlined above, or would like further information, please feel free to contact me.
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