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Retiree visa

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maximoto
  1/3/2018 13:35 EST

Not that I am considering this, but I was just wondering under the retiree visa does the DR tax any of the reported income that allows one to qualify for the visa? A typical complaint on other forums is the having to file a tax return and pay income taxes on pension income.

abreuimmigration
  1/9/2018 13:21 EST

The Dominican Republic does not tax foreign pensions.

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Kiskeyanos
  1/9/2018 19:36 EST

Well, that's a relief!

maximoto
  1/10/2018 13:49 EST

That's good to hear.

maximoto
  1/10/2018 13:49 EST

That's good to hear.

mcorral18
  2/9/2018 17:36 EST

Dear Maximoto,

I believe there is a misunderstanding on the program for foreign pensioners and investors, that I'd gladly address.

I'm both an expat and a tax advisor in the country, and I deal on a daily basis with this kind of situations. First of all, there is a general exemption to pay taxes for worldwide income (i.e., outside of the D.R.) under the retiree visa program. However, any person residing in the country for more than 182 days must comply with the duty of filing his/her tax returns, more so those beneficiaries under said program.

The reason is that a retiree can perfectly have Dominican-source income (which still pays income tax); secondly, for purposes of declaring the origin and amount of assets. Now there is a new, more comprehensive law on anti-money laundering and combat of terrorism, and the Dominican Tax Authority has been granted more powers to supervise compliance with this law, particularly, with regards to assets bought or held in the country that have not been reported on the appropriate schedule of the individual tax form.

I hope I have clarified your doubts.

Have a great weekend.

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li
  4/23/2018 19:41 EST

mcorral18,
Thank you very much for your thorough explanation. To make sure I fully understand; the bottom line is that If I have a residency visa or a retiree visa I'm required to file a tax return (after 182 days there) even though i have no income earned in the DR. Is this correct???
Thanks!

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