Retire in Dominican Republic and discover paradise at an affordable price tag.
Twice the size of New Hampshire, this Caribbean island boasts 1000 miles of white sandy beaches...Most of which are devoid of tourists.
amid flourishing valleys and meandering rivers, this sultry spot is
much cheaper than any beachside hangout in the United States.
Yet you will be a short plane ride from a major international airport.
Retiring in the Caribbean is a dream come true for many retirees. By knowing the best places to retire in this tropical paradise and learning strategies for retiring overseas, you can make this a reality.
Punta Cana and Bavaro
Nestled in the east coast of the island are turquoise beaches lined with palm trees. All-inclusive resorts abound here. The area also has its own airport.
A luxurious region of rolling hills 90 minutes from Santo Domingo, La Romana prides itself on championship golf courses, polo grounds and swimming pools...Not to mention a great shopping and cultural district. This spectacular spot is the reason retirees with a heavier wallet are retiring in the Dominican Republic.
Known as "The Bride of the Atlantic", this area reveals Victorian mansions and an historic port. A stroll down the "Malecon" or boardwalk reveals a grand view of the Atlantic ocean.
If you're looking for cheap places to retire in the Dominican Republic as well as one of the most picturesque spots, this is it.
Samana Peninsula boasts a good-sized established expatriate community. This means plenty of goods and services from back home are easily accessible.
Benefits of Retiring in Samana Peninsula
Know the difference between establishing residency overseas and establishing citizenship. You do not need to be a citizen of a country to reside there. Residency only means that you have a right to live in that country. It may even be beneficial to apply for dual citizenship.
Paying Taxes Overseas
When living or retiring in a foreign country, the amount you pay in taxes will depend on your circumstances and where you retire. What if you receive a social security check? Do you still have to pay taxes? Avoid unexpected surprises by finding out what costs are involved first.
Retire Overseas for a Budget Retirement
The largest number of affordable retirement spots are located abroad. For many retirees living in the states has become much too expensive.
If you are on a really tight budget, retiring overseas may be your best option. Extend your boundaries and discover the wonders of a new shore. Frugal living is important but so is quality of life.
--RESIDENCY OPTIONS IN DOMINICAN REPUBLIC--
This type residency can be obtained in 18 months and granted 2-3 months after filing.
(90 DAY PERIOD TOURIST CARD)
A tourist card grants you 90 days to remain in the Dominican Republic without a penalty. Although, generally, penalties are inexpensive here.
Health Care Overseas
Most prescription medications are available over the counter. Private clinics are available to expatriates for an affordable fee. A day at the hospital will usually run you under $75 abroad. This is a strong reason why many are choosing to retire in Dominican Republic.
You could always maintain a home base address when first retiring overseas. That way you can keep your previous health coverage until you are ready to look at other medical options...
Like Using an international carrier for health care overseas with a high deductible in actual emergencies. And then pay out of pocket for regular occurrences.
RENTING Vs. BUYING
Touristy areas like Punta Cana and Puerto Plata come with a higher price tag.
Not so for Samana Peninsula. A one-bedroom rental a few blocks from the beach costs one half to a third less.
If you plan to buy, keep in mind that property taxes are 1% over $140,000. And condos usually include homeowner association fees.
Choosing a retirement location should be simple and straightforward. Create detailed budgets and know the basics when retiring overseas with these easy-to-follow tips.
Goods and Services
Investing During Retirement
Always look for retirement places where tourists are regular visitors. When investing during retirement search for a stable government and signs of foreign investment. Find out more about these and other strategies here.
How to Retire in Dominican Republic
Apply simple retirement planning tips to increase the money that goes into your pocket. If you want to retire in Dominican Republic and are wondering how to come up with the money, you must take control of your retirement. Learn how to put your money to better use and cut your spending without affecting your quality of life.
Choosing when to retire is your choice. How? By having a plan...a serious plan and a goal. Find out how to devise an early retirement plan you can stick to with a little practice. Unless Aunt Betty leaves you a ton of money, you must have a plan if you want to retire early or retire at all.
Tips for Retiring Early
Leaving the rat race behind and traveling full time is a goal worth pursuing. Supporting yourself while you explore new destinations depends on some preparation. Live frugally, reduce expenses and invest. And watch how you can retire early within one to five years.
If you're on a budget and dream of retiring in the Caribbean...
Then retire in Dominican Republic.
It's only a stone's throw away from the U.S. with a killer view. What more could you ask for?
"A year from now, you'll wish you had started today."
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