Are you currently considering moving or relocating to the Dominican Republic as a second home or taking the opportunity to work remotely there remotely amid the Coronavirus Pandemic? If you’ve had your eye on the Dominican Republic, check out this guide below for information regarding how to move to the Dominican Republic in 2021.
Up until approximately 1996, the Dominican Republic was considered a fairly unstable country. However, things have drastically changed, and now the Dominican Republic is considered a very stable and economically booming country. Notably, over the last five years, the Dominican Republic has outperformed nearby Latin American and Caribbean countries and experienced a growth rate of approximately 7 1/2%. The DR is particularly driven by a strong tourism market, which accounted for 16.9% of the country’s GDP and 2020.
If you’ve ever visited the Dominican Republic, then you’ve probably already been enticed by the country’s white sandy beaches and variety of palm trees. While it is easy to get fascinated by the beauty of the country, those considering moving to the Dominican Republic should have a complete understanding of what it is like to move to the Dominican Republic in 2021 as an immigrant before making a move.
In addition to the white sandy beaches, the Dominican Republic also features beautiful valleys, lakes, some semi-desert zones, and brain fours. From May up until November, residents can expect heavier rainfalls, particularly if they stay in the north northern part of the country.
Basic Information about the Dominican Republic
The Dominican Republic is the second-largest country in the Caribbean (second to Cuba) and is situated on the island of Hispaniola. The island is shared with Haiti and is in between Puerto Rico and Cuba.
The capital of the Dominican Republic is Santo Domingo. The country has an approximate population of 11 million people. The official currency is the Peso (DOP), and the official language of the country is Spanish. The average temperature is 77°F year-round.
Getting a Visa
If you are interested in moving to the Dominican Republic, you must obtain either a business visa or a residence permit. Overall if your stay is expected to exceed two months, you must apply for one of the two visas. Also, keep in mind that all form documents are required to be notarized as well as translated into Spanish.
Housing Cost in the Dominican Republic
Housing in the Dominican Republic is affordable compared with cities in the United States. Renting an apartment in the Dominican Republic is quite reasonable. Keep in mind that housing costs increase the closer you get to tourist areas. However, if you do not mind staying a little farther from these hot spots, rents can start at low as $400.
Alternatively, those interested in purchasing a property in the country can take advantage of the low cost and lucrative tax benefit. An average property starts at approximately $100,000 and sometimes cheaper.
If you have a little more money to spare, you may want to consider building a new construction home in the Dominican Republic, which on average can start at $700-$1200 SQM, not including the costs of purchasing the land.
Overall, as it pertains to housing costs, you undoubtedly get more bang for your buck in the Dominican Republic. Contact a reputable Real Estate Agent or Broker to help you secure housing in the Dominican Republic.
The Cost of Living
The cost of living in the Dominican Republic varies from city to city. As a general rule, you can expect to pay more for food and housing in tourist zones than you would if you rent an apartment on the outskirts.
Spanish is not required. A lot of people speak English in the DR. You should definitely consider learning Spanish before you immigrating to the Dominican Republic to make the transition easier.
Friendly locals are typically happy to help immigrants who relocated to the Dominican Republic.
Cities in the Dominican Republic are similar to major cities in the U.S. in that you must exercise caution when roaming the city, especially at night.
If you need more information on how to move to the Dominican Republic or are interested in relocating or purchasing an investment property in the Dominican Republic, we are happy to help. Our experienced agents can work with you remotely to find housing or investment property to purchase. We also have a network of professionals that we can refer you to.