News Bulletin Section On-Line:
Topics Include Banking Investments Interest Rates Small Business Free Zones - Taxes Incorporation Services Mutual Funds Offshore Life insurance Annuity Retirement Products  - Panama Dominican Republic Belize Argentina Bahamas Chile Argentina Ecuador
  
Offshore Incorporation Services   Offshore Banking - Investments   Mutual Funds   International Business    Residency Services Citizenship
banking
                incorporation services
This site offers news articles and information pertaining to expatriation, offshore banking, offshore investments, residency in other jurisdictions, second citizenship and second passport matters.  Jurisdictions covered in our main section and our on-line newsletter sections include: Argentina, Bahamas, Belize, China, Dominican Republic, Ecuador, Nevis, Panama, United States and Uruguay.   Ascot Advisory assists with incorportion services, banking introduction services, free zone  license  assistance, residency and naturalization (second citizenship) in the Dominican Republic, Panama, Nevis and some of the other jurisdcitions mentioned above.
Telephone 
. 809-334-5387 or 809-756-1917
Email 
info@ascotadvisory.com
Sign up via the form below for our newsletter bulletins, which include current news and information of interest to our clients (and readers).   Note: We do not rent or sell our newsletter subscription list to anyone.
'news bulletin sign up' All of Newsletters from 2003 until current issues are available on-line.   If you missed an issue or simply want to read previous issues - including the very popular Readers Write In section .......Click Here
Complete Our On-Line Reply Form

CLICK HERE
.
WHERE CAN YOU AFFORD TO RETIRE TAX FREE?           WHY ARE SO MANY OF THE MIDDLE CLASS LEAVING THE US & EUROPE?

Our May 2003 Newsletter:
..
Retirement Issues for Americans.  IRS and Tax Expatriates.  Economics in the news:  Foreign Investors pulling out of the US.
John Schroder - Author of The Ascot Advisory News Letter Bulletin and Numerous Expatriate  Articles

..

IN THE NEWS:
.
.

ARE YOU CLUELESS ABOUT RETIREMENT?  Study shows Americans are confident they'll retire comfortably. But many of us need a reality check.  April 11, 2003-By Sarah Max, CNN/Money
.
BEND, Ore. (CNN/Money) - Stock market losses, serial layoffs and a buckling Social Security program haven't taken the wind out of the great American dream of retiring in style. But are people just great planners -- or delusion?  Many are counting on Social Security to bear the brunt of their retirement needs and believe that they are eligible for Social Security at a younger age than they actually are. (Only 16 percent of respondents were correct when asked when they would be eligible.).  You'd be amazed at the amount of people who come in and have $100,000 and think they'll have plenty to retire in 15 years, said Frank Armstrong, a financial adviser in Coconut Grove, Fla., whose clients are primarily high net worth individuals. Most people are completely oblivious to how much money it will take to support their lifestyle.
.
http://money.cnn.com/2003/04/10/retirement/confidencestudy/index.htm
.
.

THE MARKETS NEXT WORRY?  Global investors appear to like U.S. assets less and less.  April 14, 2003 - By Justin Lahart, CNN/Money
.
NEW YORK (CNN/Money) - The war with Iraq left no doubts in the world's mind about U.S. military might. The supremacy of U.S. assets, on the other hand, remains very much in question.  Used to be that in times of trouble, global investors came flooding to America's fair shores. The dollar would hop higher and Treasury bonds would fly.  But the war with Iraq has been different. Whenever things got uncertain, or downright hot, the greenback dropped and Treasuries, though rising, wouldn't do quite as well as their overseas counterparts. Over the past month U.S. stocks have risen, yes, but stocks in London, Frankfurt and Paris have risen even more.
.
http://money.cnn.com/2003/04/14/commentary/bidask/bidask/index.htm
.
.

However, there are some positive comments about the US economy coming from TIME Magazine this month, and some conflicting comments coming from Business2.0 – CNN/Money.  Who is right?  It seems like we would have to wait and see.  Read the articles below:
.
.

Why the Bear Will Lose Its Bite - As the war winds down, Bush will get help fixing the economy. Here's how: By DANIEL KADLEC
.
http://www.time.com/time/magazine/article/0,9171,1101030421-443209,00.html
.
.

We Win - Then What?  Even with geopolitical uncertainty removed, the economy is not ready to rebound anytime soon.  By Adam Lashinsky, Mar 19, 2003
.
http://www.business2.com/articles/web/0,1653,48173,00.html
.
.

READERS WRITE IN:
.
.

In Reply to Our Information from Our Last Bulletin (repeated below):
.
To be quite plain, there is nothing I am aware of that allows you to check out of the great experiment known as socialism - at least not without some discomfort and a fight.  According to US legislation passed in recent years, if you expatriate, you are required to pay a 50% tax on all your assets to the US government (you can thank former senator Patrick Moynahan for that one).  If the IRS thinks, and I stress the word thinks, you might be expatriating for tax benefit reasons, they claim the right to tax you for up to twenty years even though you may no longer be a US citizen.

John, here's the new "skinny" on the above (a reprint from another newsletter sent in by this reader):
.
Dear A-Letter Reader:  The very day I flew off to South Africa last week, the US Senate dropped another legislative bomb on America's offshore financial freedoms. But, clearing away all the political blather, the bomb turns out to be a dud.  I refer to the Senate adoption of an unrelated rider on a military tax bill mainly designed to give tax breaks to US troops and reservists called to action in the Iraq war. The rider pretends to impose new taxes in order to make up for the lost revenue from the military tax breaks and who better to tax in order to finance this new revenue gap than the traditional punching bag used by many demogoging US politicians -- "the rich." Not only the rich, but nasty, unpatriotic rich people who leave the United States to avoid paying taxes, acquire a new citizenship and then renounce their US citizenship.  What a perfect political ploy for those brave hearts in the US Congress -- soak the rich deserters to help our valiant fighting men and women.  Perfect for the politicians, except that the entire concept is total fiction.  You can read the details of the US Senate bill in the Financial Times. In summary, it says that any US citizens who renounce citizenship to avoid taxes who paid over $100,000 in annual tax liabilities for the past 5 years, will be taxed 50% of the value of all assets they own over $600,000. But no one mentioned that this is the current US law that has been on the books since 1996, and in a different version, for over 20 years.  In a meaningless act of feel-good politics, the US Senate restated current tax law.  And guess what? As far as I can discover, not a penny has ever been collected in taxes from US expatriates as a penalty for renouncing US citizen status -- because the IRS, thank God, has no way of proving the departing person's intent. In fact the records show that most US persons who end their citizenship, which is a constitutional right, do so for personal reasons such as marriage or return to their native land.
.
There's an irony in my writing this whilst in South Africa, a nation with 40% unemployment and a desperate need for foreign and domestic investment. One of the greatest impediments to this nation's growth and prosperity has been restrictive high taxes and stultifying controls on currency movements offshore by foreign investors.  This grandstanding by the US Congress on tax expatriation may slip by an ignorant news media, even satisfy a few jingoist voters back home, but it makes a mockery of truly intelligent representative government.  That's the way that it looks from here.  By Bob Bauman, Editor
.
The readers own additional comments below:
.
Actually, under the Tax Exiles Act of 98 & 99, it's an exit tax of ten years at the rate you would normally pay - but only if the Attorney General adjudges you to be a tax exile.
.
EDITORS REPLY:  Well, all in all, the final point is that this is nothing brand new.  In other words, the thought process to somehow tax you on earnings elsewhere or literally confiscate 50% of your assets, because you decide to expatriate and live somewhere else  - seems to be the new or shall we say revised American Tax initiative.  After all, the idea to leave the US is, well – just plain old un-American – is it not?  However, the very interesting point to this, for me, is that I am reminded of all the immigrants that came to the US in the past – to seek a better life either for economic reasons or other reasons.  Imagine if you can, the Irish Government taking away 50% of the assets of all Irish citizens that wanted to go to America at the turn of the century (or any other government doing the same)?  Of course, should this have been the case, especially during the demand for factory and construction labor needs in the US at the turn of the previous century, the US would have been up in arms, crying foul all the way.  It is a violation of human rights and abuse of government, denying these people the opportunity to come to America, the US would say (by taking away their assets or continue to try and chase these people for tax money after they started living and working in the USA).  So it would seem it is fine to immigrate to the US, but not so fine to expatriate from the US – a double standard to be sure.
.
But in terms of immigration patterns in the past, that is not the case today, is it?  It is the American middle class that are trying to leave, who are trying to hold onto to what they have so they themselves do not become poor – avoiding the prop up of a welfare state that they themselves will get no benefit from (many publications discuss an already broke Social Security system).  The poor have nothing, so who cares if they leave?  In addition, why should they?  They pay nothing in and get everything out, which is a pretty good deal.  But the wealthy, the so-called wealthy, or those with a few dollars to their name are of course considered villains for wanting to expatriate because they are the bread and butter of tax revenues.  This is the new dynamic at work today, and it baits the question – why are so many educated middle class people leaving the US in the first place (and Europe I might add)?  After all, if life is really so good in the US, and life so terrible everywhere else (as the US mainstream media often seems to indicate), why leave?  In addition, just how many people are doing this exactly?  If it is the case of just a few so-called unpatriotic malcontents, do we really then need a new law to stop it?  Or are the numbers of people leaving so frightening to the government bean counters, that they are becoming quite worried?
.
I would agree with the comments made above in terms of cases of confiscation of assets owned by US citizens abroad (that have expatriated).  We can understand if foreign governments agree to freeze the assets of the likes of Idi Amin, Pol Pot, Sadam Hussein and all the other never ending list of reputed high profile bad guys that have robbed their own people while in political power, but the average citizen who simply decides to move elsewhere?  To elaborate, we are talking about people like Joseph Smith, a retired plumber from California, who has paid his taxes his entire life, never has been in trouble with the law and lead a very normal life.  Or, Mary Jones, the garment factory plant manager from Chicago that has decided to move herself and her teenage daughter to Ecuador because she can perhaps afford to live a better life and educate her daughter – something she can do there, whereas in Chicago it is not an option for her, at least not anymore. 
.
As stated earlier, just imagine if you will, the Irish Government asking the US to deduct taxes from all the newly arrived Irish immigrants in Boston, that were working in local factories at the turn of the century (and whereby Ireland claimed a piece of their earnings simply because twelve months earlier, they were Irish citizens living in Dublin).  Now apply this same logic to Americans, who may in fact not even have an American passport any longer, and are living somewhere else today.  If you were another government, would you want to harass and tax newly arrived immigrants, so you could send all that money somewhere else – another foreign country no less?  Or instead, would you be glad that these new immigrants arrive with two unique things in hand – money and business skills to help a growing economy?  Think about it.
.
.

Another Reader Writes:
.
It has been a while since our last communication. In my last message, my wife and I were considering retaining you for relocation abroad to ANY PLACE where we can live in peace and mind our own damn business. We are seeking to obtain a RESIDENCE PERMIT first such as Malta, for example, where you do not need a passport AFTER you have a residence permit in hand and with 2004 coming and Malta joining the EU that would give us some mobility should the need arise. But we are still seeking citizenship so we can formally denounce our US citizenships and be done with the USA once and for all.
.
Given all of the recent crap online and several hours of meeting with professional scam artists to include even having a few arrested by Interpol for selling bogus passports, besides St. Kitts where I need to invest a ton of cash to buy real estate are there any other valid economic citizenships ANYWHERE that you can advise us on? OR like Belize, are they all being shut down?  I am told Croatia, Ecuador, Spain, Swaziland, etc., all have programs still in operation by a firm based in Japan who wants a $1,000.00 finders fee for me to be placed in touch with their expert.  I am seeking the fastest and easiest way to get a residence permit that AVOIDS needing a passport while I process for a second citizenship. THAT is the goal.  If you can advise me on these matters my wife and I would be interested in retaining you. Even though I can afford it, I will not dump huge sums of money into any program for real estate etc., because I simply flat out do not trust many people at this point and I don't need a home either as I already have several.
.
P.S. the US Marshal's service does not go after IRS tax evaders unless they are federally wanted fugitives in which case any law enforcement agency can make a felony arrest. I was a CID agent with the US Army for several years.
.
EDITORS REPLY: First and foremost, thank you for your letter.  I always find it intriguing in terms of the large number of inquiries (and clients) who were former US military.  I am not sure what this indicates exactly, but I find it amazing that people with a former military background, especially those in the intelligence field, all want to escape from America, rather than stay there.
.
In any event, on the question of so-called economic citizenship or instant citizenship programs, it is certainly true that many governments have sopped offering them due to pressure from the US government.  I have heard that the program in Dominica was on again, after being suspended for a short time, but the overall trend has been to not offer such programs any longer – generally speaking.  Regardless, it really comes down to what you have more of – time or money.  The short-term route is some of these economic citizenship programs, if you can still find them in existence – but consider the cost of up to US$50,000 or more.   
.
The longer term and usually less costly route is to apply for legal residency, which is possible in almost every country on earth, with the idea of applying for naturalization or citizenship at some point later on.  Of course, the problem might be whatever requirements the government might have, such as local investment, real estate ownership and so on also (which could also be the case with the much more costly economic citizenship programs as well).  In addition, there usually is some time line you must wait out before you are eligible for apply for naturalization (up to 6 years or longer in some countries).  Some countries of course, such as the Turks and Caicos allow you to apply for residency but you can never become a citizen, as it is not an option.  My advice then is to try and research possible choices based upon a number of factors, which are going to be different for everyone.  In other words, look for a country that has an immigration policy suitable to your needs.
.
However, on the question of applying for either residency or participating in one of these instant or economic citizenship programs, there is absolutely none I am aware of that will permit you to do so without demonstrating a current and valid existing passport as the ID document presented.
.
.

Another Reader Writes:
.
Thanks for your advice about Dominican banking.  I am in the Documentary Production field among other things and have been an investigative journalist before that. What I am concerned about is warnings from the U.S. Government on-line, including the State and Treasury Dept. information about entrusting funds to the island banking system. I understand that the USG laws have sent shudders into the Banking Industry and though they appear to expedite their desires to accommodate Uncle Sam, etc. There appears a strong reluctance between the U.S. and British business folk to risk entrusting these places too much.  Perhaps you could enlighten us on this subject. And would you personally take this risk?
.
EDITORS REPLY:  It is somewhat interesting that there is always bad news about other countries on most US Government sponsored or affiliated public information websites.  For example, not too long ago, the CDC or Center for Disease Control based in Atlanta reported a Polio epidemic in the Dominican Republic.  I telephoned my own doctor, I telephoned some of the leading medical university hospitals, I telephoned people in the business community and I also telephoned a few government officials.  They all thought either I was crazy or was making this up.  They told me, John – we eradicated polio well over thirty years ago, what on earth are you talking about?  Why would the CDC, and indirectly the US Government report such a thing?  Good question, you find the motive, I said. And so it goes with what you read on US government agency websites regarding other countries – and the true reality.
.
With regards to the Dominican Republic or anywhere else for that matter, is it always easier to promote fear to keep investor money at home and tourists as well.   At least, this would seem to be the game plan from my perspective.  In any event, quite a few investors have taken advantage of the higher US Dollar interest rates in the Dominican Republic and to answer your question about myself, let us just say that I put my money where my mouth is.  With regards to the local banking system, there certainly is a superintendent of banking and a type of reserve fund somewhat similar to FDIC, although the name and mechanics of it a bit different.  Either way, if you really want to compare apples to apples, you should probably take a look at the FDIC website and the related financial statistics.  FDIC is about as seaworthy (with respect to it being a stand alone independent solvent insurance institution) as a submarine with screen doors, and considering the current state of the US economy plus the astronomical debt levels of consumers, private business and now government – I would say the US banks will be in for a rough ride as all of those now unemployed consumers start defaulting.  In comparison, I would not say that the economy in the DR is not what you might call great, but I can say it is probably much better than the US economy at the moment.  In terms of your comments regarding US or British investors, I do not know what the statistics are, but one must consider the fact that even the US consulate does not know how many Americans are living in the Dominican Republic.  They estimate the number to be about 50,000 – but they admit they are not sure.  In addition, roughly 40% of local banking deposits are owned by foreigners, so despite what someone may have stated, there is a large number of foreigners doing their banking inside the country.
.
.

Another Reader Writes:
..
  .
John: In the most recent newsletter you said: According to US legislation passed in recent years, if you expatriate, you are required to pay a 50% tax on all your assets to the US government (you can thank former senator Patrick Moynahan for that one).  Can you cite the law or IRS regulation on that issue? I had never heard of it and want to read the actual statute to see if it applies to our situation.  BTW - we just got back from 2 weeks in the DR. We stayed in Sosua, Las Terrenas, and Las Galeras. Very friendly people everywhere, and you just can't get a bad meal. We enjoyed the trip and are discussing the Las Terrenas area as a possible relocation destination.
.
EDITORS REPLY:  I honestly do not have the exact technical details, but hopefully the previous letter mentioned above on the very same subject would have answered your question.  In terms of Las Terrenas, I would agree that it is a very beautiful place to consider as a retirement destination. 
.
.

Another Reader Writes:
.
Hello John: Thank you for your weekly newsletter.  I live in Toronto and SARS is a big scare right now.  As I have a vested interest in the Dominican Republic, do you know if SARS has hit the Dominican Republic, if so what are they doing as far as public awareness and containing the disease.  I think the public health department should issue out a warning about it.  What do you think?
.
EDITORS REPLY:  So far I have not heard of any SARS cases in the Dominican Republic and hope not to either.  However, I do find it very interesting the way the Canadian Government has jumped all over the WHO (World Health Organization) and US CDC notices which have now warned about travel to Toronto (and have urged Americans not to travel to Toronto).  The CDC claimed there was Polio running rampant in the Dominican Republic in the past, and I think the Dominican Government should take note of the Canadian reaction to a somewhat similar issue.  Also, it might be very interesting for the Canadian Government to start a travel and advisory warning service regarding the US and elsewhere.  For example, they might want to urge Canadians not to travel to Los Angeles due to the high incident of drive-by shootings, and similarly stay away from Disney World in Florida due to the mosquitoes carrying the West Nile virus, etc.
.
.

Another Reader Writes:
.
Hi John: I read your advisory issues with great interest. Do you have an idea of the number of US and Canadian expatriates living in the DR?  Also, does the DR government regulate ISP's so that private providers cannot set up their own systems? The intent of this question is can a WISP (Wireless Internet Service Provider) be set up in the DR without government opposition?
.
EDITORS REPLY:  Well, I could not in terms of Canadians, but as I mentioned above, the US consulate in Santo Domingo estimates there are about 50,000 Americans in the Dominican Republic – but then again they really do not know, as most Americans are smart enough not to register with the consulate.  In regards to private ISP’s, they are certainly permitted and there is no specific regulation I am aware of, although it really would be a case of using the backbone connection of one of the four existing telephone companies, which must be negotiated directly with them.
.
.

Another Reader Writes:
.
John, in today's weekly update, you answered a question about DR property and income taxes.  Part of your answer was - There is an income tax, both for corporations and private citizens, which is done on a graduated scale, up to about 25% at the top tax rate.  Is it true that DR citizens are taxed on their worldwide income, not just income earned in the DR?  And what about a DR citizen who is not a resident of the DR?  Is a DR citizen that does not reside in the DR subject to DR income taxes?
.
EDITORS REPLY:  The Dominican Tax regulations claim the right to tax certain kinds of foreign source income, but in terms of Dominicans living and working outside of the country, I am not aware of any tax payment system in place either in terms of organized collection or enforcement, or liability in such a case.  In regards to either residents or citizens living inside the country, again, local bank account and commercial paper interest is 100% locally tax-free.  However, the government does claim the right to tax certain kinds of foreign source income - but there is also a number of very legal tax planning strategies to address this and many of our clients have arranged their affairs in such a way as to reduce or possibly eliminate taxation in both jurisdictions.
.
.

Another Reader Writes:
.
Hello John: After reading about the takeover by Banco del Progreso, we read today that the Central Bank decided to take over instead.  It also said that Baninter was having mismanagement problems.  Were they having financial problems?   What about Banco Mercantil how is that one doing? Please inform us.
.
EDITORS REPLY:  It is true that an announcement was made indicating that Banco Del Progesso and BanInter would be merging.  It is also true that Banco Del Progresso later announced they would not be doing so, and that the Central Bank did step in to both supervise banking operations of the bank  (BanInter) and to also guarantee ALL customer deposits as well.  The rumors and reasons are varied and it can be difficult to determine what exactly is the truth (some say it was political while others point to non-performing loans, etc.).  I can say for sure that the Central Bank has guaranteed all funds and that ALL clients that have visited BanInter have been able to withdraw funds without questions or problems.  Also, my contacts in the banking industry tell me that Wachovia Bank, from the US, is seriously interested in purchasing BanInter and that it is highly likely they will do so.  If they do not, it is also reported that two European Banks are supposedly interested as well, although at the moment it looks like Wachovia, but we will have to wait and see. 
.
What is more important to me about all of this is that the Superintendent of Banking, together with the Central Bank (which manages the banking reserve fund), does supervise all banking activities in the country, and should a problem arise – they respond accordingly.  This is a clear and very recent concrete answer to the question – Is there government banking supervision (and insurance) in the Dominican Republic, and what happens if there is a problem? 
.
.

Another Reader Writes:    
.
Have read your article about the Dominican Republic, and the island sounds lovely.  However, I am almost afraid to ask you this question: Could a person retire there on US$500 per month?
.
EDITORS REPLY:  In all honesty, that depends upon what kind of lifestyle that you want, if you home is fully paid for, etc.  I have the tendency to say that US$2,000 per month is a much more comfortable number to calculate, in terms of living a somewhat upper middleclass lifestyle.  Can you live on US$500 per month?  You could I suppose, and you can consider the fact that a Branch Manager of a bank earns the monthly equivalent of about US$800 per month (using current exchange rates), so perhaps that can be a yardstick.  But again, the answer to the question really is rooted in what kind of lifestyle you wish to have.
.
.

Another Reader Writes:
.
John - I have been reading your reports for over a year. I don't always agree with your opinions, but I do read them all.  I find the comments Libertarian in most cases. They are interesting, however.
.
I lived in the DR for 15 years and have married a Dominican. I had to take some of the DR's beauty back with me! Now, I am about to retire and want to return to nuestra tierra. We would like to find a small hotel or a villa that would lend itself to a bed and breakfast.

However, I have been worried lately by the increase in real estate prices in many of the areas; and, at the same time, the number of hotels and resorts that are advertised for sale. The North Coast is a good case in point. Nearly all of El Portillo and Las Terrenas is for sale--yet, the prices are still relatively high. I know that real estate dealers that advertise on the Internet are going to be higher than local Dominican agents and private owner sales. However, real estate prices are going up in US$ at the same time that the peso is edging towards RD$25 to US$1! I would imagine that this is because Dominicans correctly perceive that their land is worth more than their devalued peso. Santo Domingo prices are off the wall! What is your reading on this?

The email I get from all my Dominican friends tells me of the higher prices and continued low wages. Professionals like doctors and dentists are telling me that their clients have dropped off because of the economy.  Yet, on our vacation in the DR last year, I was amazed at the economic development and the proliferation of US fast food places in all the major cities. I still can't see how Kentucky Fried Chicken can compete against Victorina!  I didn't have time to see San Diego's own Price Club in either Santiago and Santo Domingo, but I did read their literature and marketing ads. Are their sales still holding?  Are you still as upbeat and positive about living in the DR?
.
EDITORS REPLY:  Taking first things first, thank you for your comments and in terms of political leanings, I would say to call me a Libertarian is about right on most issues (less government intervention in our lives, less taxes, more freedom, etc.).  Due to space, I regrettably could not reprint your entire letter or answer all of your many questions, but I will do my best for the majority of it, which seemed to center around real estate.  However, before I do, you touched upon a very interesting point.  Which is to say that despite of what kinds of things you read on a message board, read on the US State Department Fact or Travel advisory notices or may have heard as general gossip – there seems to be something positive going on economically speaking in the country (which you have attested to).  With that said, it is also certainly true that sales tax and other kinds of use tax increases have curtailed consumer spending as it does anywhere in the world when the local government reduces consumer purchasing power by increasing prices (due to increased sales taxes, etc.).  Of course, people will continue to spend money on those things they want, if they have it to spend.  As a result, they may put off a trip to the dentist (I do not know anyone that looks forward to visiting the dentist), but may continue to stop at KFC for lunch (or whatever else).  On that note also, my wife has commented many times when visiting Price Smart in Santo Domingo: People complain about the slowdown in the economy (9% annual growth down to about 4% in the last two years) yet the parking lot is ALWAYS full.  In other words, using Price Smart as a benchmark, no recession there.  So, while some businesses may have experienced less traffic over the last year or so, it is not a case of massive layoffs, bankruptcies, and all the other issues you currently see in the US at the moment.  In the words of one Dominican friend of mine, after being encouraged to move back to New York by his brother: Are you Crazy?  The economy in the Dominican Republic is far better than it is in the US.
.
In regards to real estate, I will say that real estate prices have certainly being driven up, especially in the capital due to the demand.  Per square foot, new luxury apartments in the capital are also more costly than single family homes, again due to demand.  But there is an incredible amount of new construction and new residential housing developments being built.  However, even still, I continue to compare housing prices to other islands in the Caribbean and in major US cities (in terms of the capital of Santo Domingo) and do believe the Dominican Republic remains a bargain in comparison.  Pricing for property is ALWAYS overpriced in tourist areas as a general rule of thumb everywhere, and will certainly be more expensive than normal residential housing elsewhere in the country.  It is also true that many realtors or developers price properties in US Dollars, especially regarding properties marketed to foreigners, on purpose also.  Then again, if you want to compare apples to apples, make a comparison to new luxury golf course homes in tourist areas on other islands and decide after doing soon if the DR is really as expensive as you may think. 
.
.
This information has been compiled and presented by John Schroder of Ascot Advisory Services, for the benefit of clients and readers. Ascot Advisory Services provides assistance with such matters as offshore company formation, Panama Foundations, offshore banking, and special services in the Dominican Republic regarding residency, free zone applications, etc. For more information:  
... ...
Telephone 809-334-5387 or 809-756-1917 
Email: info@ascotadvisory.com
..
...
Use Our Email Reply Form:
....
CLICK HERE
 .