Top 9 Reasons To Live In The Dominican Republic Right Now
9 Reasons We Say This Is The Best Of The Caribbean
The Dominican Republic is popping up on a lot of hotlists recently. The Samaná Peninsula—our preferred lifestyle choice in this country—was among “Six Surprise Destinations” highlighted in a recent Huffington Post article.
Meanwhile, Forbes included Playa Rincón (also on the Samaná Peninsula) on its list of best beaches in the Caribbean for 2016.
The rest of the world is catching on to this unsung corner of the Caribbean that we’ve been endorsing enthusiastically for more than a decade.
Beaches are still the main draw for most visitors to the island. But, for someone with a longer-term stay in mind, here are nine more things to love about the Dominican Republic:
1. Unbeatable weather. Living in the Dominican Republic, you enjoy summer temperatures and sunshine year-round (average temperatures are between 73 and 87 degrees)… along with a nice Caribbean breeze, so it doesn’t feel intensely hot.
2. Low cost of living. Forget your idea of Caribbean pricing. You can live well in the Dominican Republic on just US$1,355 a month (including many luxuries that you would have to do without on this same budget back home). Weekly food shopping for two is about US$120—including grocery items and delicious fresh fish, fruit, and vegetables.
3. The best of nature. Apart from the white sand, swaying palms, and turquoise waters that we all expect from the Caribbean, the Dominican Republic is also home to lush forest, mountains, waterfalls, coral reef, as well as rare bird species… and it’s a favorite stopping-off point for migrating humpback whales from January through March (they can often be seen from the shores of Samaná Bay).
4. Truly friendly people. The locals here aren’t just welcoming of new people—they go out of their way to help. Around the town of Las Terrenas, you’ll find many European expats that have been living there for decades… and a growing number of U.S. expats. Its strong community spirit is what entices people to stay.
5. High standard of health care (and cheaper health insurance). Expats in the DR rate the personal treatment they receive by medical professionals very highly. We know one expat who’s saving US$72,000 a year on his health bills thanks to free treatment at his hospital in Santo Domingo.
6. Cosmopolitan capital. Apart from the natural wonders of the Dominican Republic, you have the city of Santo Domingo at your disposal. The oldest settlement in the New World, it has plenty of history and culture, diverse dining options, entertainment, and shopping. (For our upcoming Live and Invest in the Dominican Republic Conference, we’ll be staying at the Sheraton Santo Domingo—just minutes from the cobbled streets and Spanish colonial buildings of the Zona Colonial, a UNESCO World Heritage site.)
7. Easy, straightforward residency. Once you can prove a minimum monthly income of US$1,500 (plus US$250 for any additional dependents), you can qualify for provisional residency in as little as 45 days.
8. Generous tax breaks. Acquiring provisional residency immediately offers you many great tax benefits—including tax-free receipt of your pension income and a 50% reduction on your property tax. Of course, lowering your personal tax bill means you have more disposable income to enjoy your new Caribbean lifestyle.
9. Your dream home at the beach at a fraction the cost. It’s hard to think of anywhere in the Caribbean that matches the opportunities in the Dominican Republic to build or buy your dream home—at the beach, with stunning views, in an uncrowded location—for such an unbeatable low cost.
It’s possible to buy an apartment for less than US$100,000… or a villa at the beach for as little as US$250,000.
This is the best buy in the Caribbean.