Rental income requirements for “Fast Track” Residency in the Dominican Republic

One of the ways foreigners can qualify for “Fast Track” residency in the Dominican Republic is through rental income from property owned outside the DR.

Foreigners who get this type of residency can apply for Dominican citizenship within six months of being issued their residency card. The alternative pathway to Dominican citizenship takes seven years, hence the name “Fast Track.”

The minimum monthly amount needed to qualify is $2,000 monthly for a single person and $250 for each additional family member. For example, the total income required for a family of four (4) would be $2,750 monthly.

The qualifying amount is based on monthly gross rental income versus net (or income after expenses). In other words, the state wants to see a minimum of $2,000 entering your account every month.

You will need to provide documentation to prove your monthly income.

Also, the law establishes that the source of income must be in existence for a minimum of five (5) years.

The proof of income documentation that you will need to provide as part of the residency application is:

• Title or deed showing ownership of the rental property;
• Rental contract or lease showing the amount the property is being rented for;
• Three months of bank statements showing the rental amount received.

When legalizing these documents, keep your original deed or rental contract unchanged. Do not apostille the original property deed or title.

Instead, visit a notary to obtain a certified copy. A certified copy is simply a photocopy of the original document that the notary verifies as a true and accurate replica.

With this certified copy, you can then have it apostilled. Once apostilled, it is ready for submission to immigration and the consulate as part of your residency application process.

________________________________

Maria Abreu is the CEO and Managing Attorney of Abreu & Associates, a law firm practicing exclusively in Dominican Republic Immigration and Nationality law. She is also the founder of Retire and Invest DR. This organization hosts conference events for foreigners interested in living, retiring, and investing in the DR. You can contact Maria at: mabreu@abreuimmigration.com.