Do you find yourself looking overseas for a new place to call home?
Well, in today’s post we’ll explore 2 countries offering residency by investment for retirees, and by the end hopefully we can help make your decision on which country you’ll soon be calling home that little bit easier.
To make the most of this opportunity, we’ll look at two principal choices in terms of the countries you have to decide between. Let's see what they are all about in some more depth.
Dominican Republic
If you want to obtain a new citizenship, you have options. This is very important as countries the world over have different schemes to attract people from different demographics, for example, retirees in the case of the Dominican Republic.
The Caribbean island nation presents an attractive location for prospective citizens, especially retirees, and the short time it takes to gain citizenship is another pull factor, as it is only 3 years.
So, what is the process?
1. Prove you have a monthly retirement income of at least US$1500
o This must be from outside of the Dominican Republic
o There is an additional US$250 needed per child under 18 and spouse
2. 2 years after application for permanent residency, apply for citizenship
o Process requires interview in Spanish
o You must also undertake a medical exam
It may seem off-putting if you do not speak Spanish, but fear not, you are actually given the questions beforehand and so preparation of answers can be done, making it possible for even those with minimal Spanish to undertake the interview properly!
New Zealand
New Zealand is made up of two large islands, the North and South Islands, and a number of smaller periphery islands situated in the South Pacific Ocean.
The nation is very well connected considering its relative isolation, closest to Australia over 1,500km away, and the capital city Wellington is found on the North Island, immediately highlighting itself as a hub for those of you looking to relocate to New Zealand’s urban centres.
There are 2 options for residency in the nation, however, for retirees, only the first is applicable. It works as follows:
Investor 1 residency visa: NZ$10 million over a 3-year period, no limit/minimum requirement on age, language or business experience.
Steps: Make your application and wait up to 6 months. Once approved, you make your investment and receive your visa. Easy. Now, you will need to spend 44 or more days a year in New Zealand in year 2 and 3 of your visa to then renew it for an additional 2 years.
So, which program is for me?
Starting with the Dominican Republic, the benefits include:
- No tax on your global incomes
- Citizenship can be inherited
-Optimise your taxes: There is no wealth, gift, inheritance, or capital gains tax
- Dual citizenship is allow
- You can enjoy a free life.
- Visa Free-Access to 145 countries
Now onto New Zealand, and this island nation is home to some of the most diverse landscapes on the planet, providing endless opportunity for travel and exploration for adventurers with experience, and those with none.
This idea of there being something for everyone translates to the locations on offer to you in terms of laying the foundations of your new life, with rural and urban regions exhibiting their own pull factors depending on your desired landscape.
The benefits don’t stop here though, with a high quality of life and world-renowned friendly population, New Zealand is a fantastic option for retirees, meaning there is no reason to take the country off your shortlist of relocation candidates!
Also, with English as the widely spoken language, communication barriers are largely non-existent and should help with your settling in process.
If we have a quick look at both programs together, it certainly seems in terms of budget, Dominica is more suited to those of you who have less disposable income to invest into your retirement residency.
However, what New Zealand loses from a price point, it definitely gains through the benefits. Why? Well, their world-leading industries and facilities pave the way for a quality of life which is very attractive to retiring investors looking to escape to a more relaxed life with the peace of mind they can retire comfortably.
So, if you are interested in finding out more about the pathway to retirement citizenship through investment in either of the countries mentioned above, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
Also, if you want to access our other great content, subscribe to our YouTube channel! At Creimerman, our team of professional global citizens would be happy to help you with your personal or professional cross-border ventures and help make them a success.