We seem to have two different groups of readers when it comes to 2nd Passports and immigration. The first group has already read and researched the advantages of securing a 2nd passport and have already decided to add this important tool to their back up plan. For them, the services offered through the PassportDR link to the right are one of the fastest ways to achieve that goal.
There is another group of readers that are still exploring why a 2nd Passport might be beneficial and want to learn more about exactly how or why. We will dig deeper into the whole 2nd Passport strategy in a future post, but in today’s interview with one of our immigration consultants, we will explore specifically why the Dominican Republic may be your best option for a fast track immigration leading to a 2nd Passport.
Barry: There are many readers of this article that have already decided they want a second passport in view of the economic crisis and governmental restrictions affecting a good number of countries around the world. The question that begs answering is why the Dominican Republic.
Attorney: I get that question all the time. Basically the DR offers one of the most efficient and least costly alternatives for an expat to establish residency, gain citizenship and ultimately acquire a 2nd passport.
Barry: So what are some of the biggest factors that should lead an expat to pick the Dominican Republic.
Attorney: Here are just a few of the main factors I consider:
Growing economy – most expats want a place on the upswing
Low tax rates – most epats do not want to give everything they earned back to the government in taxes
Stable government – most expats want a stable but more hands off government
Most Americans want the ability to hold dual citizenship and want to hang on to their US citizenship, just in case
No physical presence required in the country to hold residency status – for some this is important and is a big benefit for my clients that are not yet ready to make the move
Investment opportunities – because of the growth here there are plenty of opportunities to diversify into one-of-a-kind real estate and business ventures
REAL ESTATE for a reasonable price – you can find beautiful property with the most amazing views.
Better quality of life – what can I say, compared to many large cities in the US, every day here is more relaxed
Low cost of living – even an expat on a very limited pension or social security can live very comfortably
Beautiful country which has diversity (not just mountains and beaches)
Barry: I understand, those are a lot of the same reasons that we ended up here. For us this has been a great place to live.
Is there anything about the immigration process here in the Dominican Republic that you find especially beneficial.
Attorney: Like in any country the immigration process and bureaucracy can be a challenge and frustrating from time to time. But I also discovered a group of people that were open to making the process better. I have seen them implement a whole series of improvements and incentives to make the process more and more attractive for foreign nationals that wanted to come to the island and be good citizens. I think the addition of the NEW fast track program for real estate investors is just the latest in a series of improvements that are beneficial to expats.
Barry: So overall, are most expats happy they made the move to the Dominican Republic.
Attorney: Of course. That is not to say everything is perfect here. I doubt there is such thing as a perfect place. But most of my clients have definitely found that this is an ideal place for them.
Each individual must think about what they want out of the country they invest or reside in and then make a move. After analyzing all that the DR had to offer many expats will make the decision that this is the place for them.