| 1. Beat inflation | | | | better lifestyle then the one back home for the |
| If you have a pension or retirement income in US | | | | same income. |
| Dollars or Euros then you can expect to get far | | | | If you want to retire on the beachfront, DR |
| more pesos for it by virtue of the exchange rate, | | | | offers charming beach side communities in Punta |
| (that puts stronger currencies at a definite | | | | Cana, Las Terrenas and Cabarete. Moreover you |
| advantage.) And you can get even more if you | | | | will find yourself with a community of like minded |
| invest in fixed deposits in the DR some of which | | | | people - mostly of American and European origin, |
| can earn you 12 to 24 percent - perhaps | | | | who like and value the good things of life, just as |
| tax-free. | | | | you do. |
| 2. Banking is easy | | | | Incentive Bill approved by Congress |
| As a retiree it's not difficult to open a bank or | | | | A new law is currently waiting for enactment that |
| time deposit account in the Dominican Republic. | | | | makes it easier for retirees from overseas to |
| (Unlike the hassles back home)- you only need to | | | | obtain permanent residency in DR within a few |
| have a passport and no tax identification number | | | | days, as long as they met the minimum income |
| is asked for. The Dominican Republic is one of the | | | | requirement of $1500 US with a government or |
| best places for offshore banking. | | | | private pension. |
| 3. Affordable cost of living | | | | Other tax incentives the bill offers include: |
| There are other advantages to retiring in the | | | | - Annual property tax reduced by 50% |
| Dominican Republic. It's the only place in which you | | | | - No tax on dividends and interest |
| could afford to hire a full time maid to help with | | | | - Imported motor vehicle duty reduced |
| daily chores that become difficult to complete as | | | | - Waiver of transfer taxes for the first purchase |
| you get older. | | | | of real estate |
| 4. Entertainment galore | | | | - Mortgage taxes reduced by 50% |
| There is also so much you can do in your spare | | | | There are so many reasons why it makes |
| time as a retiree in the DR. This is one place that | | | | perfect sense as a retiree to live in this serene |
| has it all-the signature golf clubs, the adventure | | | | land known as the 'Nature Island of the Caribbean. |
| trails and sports clubs. You will discover a far | | | | |