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Ascot Advisory Services - Dominican Republic
106 followers -
Legal Services including Residency & Citizenship application services
Legal Services including Residency & Citizenship application services

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Ascot Advisory Services - Dominican Republic's posts

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Reason #482 Why The Dominican Republic Is Still One Of The Best Places To Consider For Relocation & Real Estate Investment. While many US States are increasing real estate taxes to plug insolvent and underfunded municipal pension plans, the Dominican Republic LOWERED Real Estate Taxes! The real estate or property value subject to taxation was increased from RD$4 Million Pesos up to RD$7 Million Pesos (about US$ 152,000). So, what that means is, if you buy a home, land or condo in the Dominican Republic and it is worth less than US$152,000 you pay NO annual real estate tax. If the property is worth over amount, then you only pay 1% of the value OVER that amount. So, let's say you buy a home valued at US$200,000 (or equivalent in Pesos) – in such a case your annual real estate tax in the Dominican Republic would be the equal to US$480 per year (1% of US$48,000 which is the difference between US$200,000 minus US$152,000).
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Numbeo Reports That Cost of living in Dominican Republic For 2017 is 31.11% lower than in United States (aggregate data for all cities, rent is not taken into account). Rent in Dominican Republic is 68.75% lower than in United States (average data for all cities).

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Even though a “cautious” tone to article, some key points are: Dominican Republic had 6 percent positive GDP growth for 2016. Fiscal deficit, which fell from close to 7 percent in 2012 to less than 3 percent in 2015, even as the country doubled education spending and invested more in infrastructure. The DR's poverty rate has fallen. Our Comment: President Medina Medina knew about economic imbalances in US & EU, and tried to prepare country to weather 2017 economic storm, this was reason for deficit reductions.

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Why the Dominican Republic? Positive GDP growth of 6+ percent in 2015 and the country is poised to about do the same in 2016 (in fact, it has had positive GDP growth for the past 8 years). The country offers the most affordable real estate in the Caribbean (no asset bubbles due to cheap credit), and has one of the best programs in place for residency leading to citizenship. Interest rates in the country are real market rates and not central bank manipulated (our clients are earning 10 percent interest with government bonds at the moment).

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The current madness of central banks now involves inflation, to eradicate the excessive debts we would assume (they say they are worried about deflation). The next step (we think) will be the call for some kind of new currency – monetary system. However, regardless of what new system is called for or put in place, if that too lacks honesty, integrity and truthful dealing by government and the financial sector, it will be useless exercise.

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Cruise Ship traffic to the Dominican Republic is up almost 70 percent according to the latest tourism. But on the economic front, there is also positive news as well. The IMF recently announced an expected 5 percent annual GDP growth for 2016 in the Dominican Republic, which reflects yet another year of positive growth.

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We recently highlighted that the IMF created a table regarding a number of citizenship programs globally but failed to include the Dominican Republic on that list. Why? We could not say but the truth of the matter is, the Dominican Republic Investor Residency to Naturalized Citizenship beats some of them on time line and ALL OF THEM on cost or requirements.

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One of the best kept secrets is The Dominican Republic. Why? While the Dominican Republic does not offer a so-called economic citizenship program, it does have a very attractive process in place for investor residency, allowing the applicants to apply for citizenship after 6 months. There are a few ways to qualify so lack of space prohibits us from detailing them all (see information on our own website: http://www.ascotadvisory.com/Dominican_Republic_Immigration_Services.html) but in terms of costs, it is FAR LOWER than many of the other programs listed in the chart from this article. If you are not at least considering the Dominican Republic, you are missing out on one of the best and least expensive opportunities.

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In one of our recent articles we touched upon the theme of immigration, but perhaps more importantly we should say it is really an issue of jobs. For the developing or emerging markets it is about keeping out unemployed people from the developed nations (US and EU) to assuage any job competition issues for local citizens. However, interestingly enough we have an employment or jobs issue between two nations in Europe (Switzerland and Italy) mentioned in this article. The proclaimed problem is the issue of lower wage cost Italians competing with the supposedly higher wage Swiss for jobs in Switzerland. So, this is not ONLY an issue or argument about lower wage job competition coming from the developing or emerging markets in terms of the stealing of jobs (read manufacturing relocating to the lower wage jurisdiction) from the developed markets.

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Want to know what's next? History is one of the best economic and political teaching tools at our disposal. The only thing different today are the tools and technology, but other than that, we would argue human nature has not changed since recorded time. And both economics and politics is in reality, the study of human nature. Is it not?
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