Local July 6, 2024 | 12:49 pm

Growing number of Puerto Ricans choosing the Dominican Republic as their retirement destination

Santo Domingo – The Dominican consul in Puerto Rico, César Cedeño, revealed a significant increase in Puerto Ricans choosing to retire in the Dominican Republic.

Although many apply for residency directly in the Dominican Republic, official figures from the consulate indicate that 232 foreigners applied for visas to apply for residency at the diplomatic headquarters between October 2022 and 2024. Added to the official visas, the total amounts to 360.

Cedeño attributes the growing interest to several attractive factors, including legal security, the welcoming climate of Dominicans, available services, and the favorable exchange rate.

“Legal security in the Dominican Republic has improved considerably. The government and the country are prepared to receive thousands of tourists, and the price difference is significant. It is not the same to spend $2,000 in the Dominican Republic, where the exchange rate is around 58 pesos to the dollar, than in Puerto Rico,” he explained.

He indicated that geographical proximity, with flights of less than an hour, and cultural similarities in terms of musical rhythms and gastronomy also play an important role in the choice of Puerto Ricans.

The Dominican Republic offers facilities to regularize foreign citizens through temporary visas or residences, especially for retirees, pensioners, investors, and professionals. Hence, the consul stressed that the Puerto Rican residents are processed by the consulate, which houses other Dominican government agencies.

In 2023, the General Directorate of Migration (DGM) granted 58,629 permanent and temporary residences to citizens of more than 60 countries. Americans, including citizens of Puerto Rico, occupy the fourth place with 2,120 residences. Haitians, Venezuelans, and Cubans occupy the first three places, respectively.

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