As perfect as an offshore destination can be the Dominican Republic first came on my radar in 2005. It was an oceanfront property of an undervalued country that drew my attention to the time.

I was among the first to shine light on the Dominican Republic for US real estate investors, but its kilometers of sandy beaches had already attracted foreign tourists and European investors for decades before. The French, in particular, were the first to invest in the Dominican Republic for generations.

Today I want to draw your attention to the Dominican Republic in a still greater way. Now that I have come to know it as well, I believe that this island nation is as close to perfection as an offshore destination can be. Everything answers my list of essential things for me to validate this country.

Over the last two years, the Dominican Republic’s economy has been the fastest growing in the Americas. The country recorded rates of 7% per year of growth in 2014 and again in 2015 and is on track for it to be better this year, largely thanks to millions of dollars of North American tourism and of the increasing number of European travellers flocking to the sandy beaches.

Investing in the dominican republic — To Get this every morning !

Along with economic growth, recently re-elected President Danilo Medina has made education a priority, sponsoring adult literacy and vocational training programs and building 2,500 new schools to date, during his four years in office.

The current administration is working hard to make this country beyond the status of a developing country, said a local businessman, with whom I spent time recently.

The country’s infrastructure has improved considerably since my first visit. Today, new roads link most of the resort areas and the beach. The colonial zone of Santo Domingo is in full facelift. New roads and sidewalks are under construction, and overhead cables are buried.

More flights from the United States make the island more accessible, and major international hotel chains target the Dominican Republic, and specifically Santo Domingo, for new properties. Recently opened a JW Marriott and an Embassy Suites by Hilton. And under construction an Intercontinental and a Hard Rock Hotel.

Meanwhile, the Carnival brings a daily cruise ship to the quay of Santo Domingo.

In 2014, 5.14 million tourists visited the country. The Dominican Republic receives about 6 million tourists per year; 60% of whom are from North America. The administration of President Danilo is trying to attract more Chinese tourists and has also targeted Israel successfully. Charters arrive regularly from this country.

Beyond tourism, the economy of the Dominican Republic is based on agriculture (bananas, coffee and cocoa) and mining.

Here is the most important for those who want to settle there: an overview of their residency option for citizenship purposes.

Earning a second citizenship takes time or money the economic citizenship of the offer of Dominica (small island of the West Indies not to be confused with the Dominican Republic) will cost you a minimum of US $ 100,000 plus costs for an individual and US $ 175,000 plus fees for one couple.

And this cost is on the rise. Dominica raises its economic costs of citizenship from 1 August.

In addition, Dominica is a budgetary choice in this context. Other economic options for citizenship are more expensive.

If you do not own or are not willing to spend money to buy the second citizenship, you have to bet on time. Most countries need at least five years as a legal resident before becoming eligible for naturalization.

The Dominican Republic requires only three years of residence … which can be followed quickly.

The Dominican Republic offers classic and accelerated options for residences. The fast track includes residence through investments as well as a program for retirees who can prove a retirement income of $ 1,500 per month.

Get your residence with the option fast lane, and your naturalization process will also be quick. You can begin the naturalization application process after only six months rather than waiting for all three years of residence. This means that you can complete the naturalization process within 12 to 18 months from the time you get your residence … and the processing speed of residence continues to improve, through the addition of staff by the ministry.

You can not rely on this in all cases, but it may be possible to have your residence card in 30 days.

The option to invest for residential purposes requires an investment of 200,000 US $. However, unlike economic citizenship options where the term investment is actually a gift to a local development fund, you get your $ 200,000 in return … plus the associated investment profits.

To qualify for the investment option for residence purposes, you could put your money into a government bond, which currently pays tax-free (in the DR) with interest of about 3.2%. Or you could put your money into a bank deposit certificate and earn between 3.5% and 4%, depending on the terms.

Alternatively, you can create a business to start an activity … or you can create a business to manage a real estate investment (that is, a rental property). Contact our 20+ years experience Real Estate Agency to know more about investing in Dominican Republic

The option to lean for residence through an investment in a Bank Deposit Certificate is something new. The regulations, requirements and opportunities associated with residency qualification and a Dominican Republic passport are changing in real time because the government is actively working to attract more foreign investment and more expatriates and retirees interested in living in the country.

Finally, this playground is constantly evolving, and for the better.