1. Beat inflation

If you have a pension or retirement income in US dollars or euros, then you can expect to get a lot more pesos for it under the exchange rate (which puts stronger currencies at a definite advantage). And you can get even more if you invest in fixed deposits in the Dominican Republic, some of which can earn you between 12 and 24 percent, perhaps tax-free.

2. Banking is easy

As a withdrawal, it is not difficult to open a bank or a time deposit account in the Dominican Republic. (Unlike the hassles at home), you only need to have a passport and you are not asked for a tax identification number. The Dominican Republic is one of the best places for offshore banking.

3. Affordable cost of living

There are other advantages of retiring in the Dominican Republic. It is the only place you could afford to hire a full-time maid to help you with daily tasks that become difficult to complete as you age.

4. Entertainment galore

There is also so much you can do in your spare time as a retired in the Dominican Republic. This is a place that has it all: exclusive golf clubs, adventure trails, and sports clubs. You will discover a much better lifestyle than the one you have at home for the same income.

For a beachfront retreat, DR offers charming beachside communities in Punta Cana, Las Terrenas, and Cabarete. Plus, you’ll meet a community of like-minded people, mostly of American and European descent, who like and value the finer things in life, just like you.

Incentive bill approved by Congress

Currently, a new law is expected to be enacted that will make it easier for foreign retirees to obtain permanent residence in the DR in a few days, provided they meet the minimum income requirement of $ 1500 with a government or private pension.

Other tax incentives offered by the bill include:

– Annual property tax reduced by 50%

– No taxes on dividends and interest

– Reduction of taxes on imported motor vehicles

– Exemption from transfer taxes for the first purchase of a property.

– Mortgage taxes reduced by 50%

There are so many reasons why it makes perfect sense as a retiree to live in this serene land known as the ‘Natural Island of the Caribbean’.

A variety of housing solutions

Cap Cana and other booming areas will soon offer all kinds of retirement housing solutions, from condominiums and gated communities to seaside villas offering opulent living as well as luxury apartments. Due to this demand, property prices in Cap Cana have increased by twenty percent in a single year.

With Donald Trump’s backing plans for $ 2bn (£ 1bn) cliff-top properties with a Trump Tower, golf courses and villas began to take shape. Agreements have been made with giant companies such as Altabella and Sotogrande and the Ritz-Carlton has plans for a luxury housing and hotel complex in this area.