What You Need To Know About Retirement in Punta Cana
Are you curious what retirement in Punta Cana is like? Maybe you’re close to retirement or you want to plan ahead for the future? Maybe you’re already entered retirement and would like a new adventure or investment?
Whatever the reason, you’re in the right place. As a matter of fact, we’ve complied this helpful list to guide you on your retirement journey.
Read on to see the top 10 reasons to retire to Punta Cana- the best Caribbean destination!
1- Punta Cana is a city that caters to retirees.
Retirees relocating to the Dominican Republic will enjoy phenomenal benefits like tax exemptions and other advantages when they purchase a home or property.
Because of this, Punta Cana is seeing a considerable increase in mature adults enjoying the Caribbean with their families and making the most of their retirement years.
2- Retirement in Punta Cana is extremely affordable.
The cost of housing and property in Punta Cana is considerably cheaper than other Caribbean islands. Of course, you can enjoy a beachside home or condo for the same price as an ordinary apartment in the United States.
3- You don’t need to give up the comforts of home.
While the cost of living in the Dominican Republic is very affordable, there won’t be an sacrifice in luxury. Many condos are new construction, and they boast water filtration systems, modern appliances, gated communities, etc.
In addition to beach access, many properties afford residents with access to pools, spas, fitness centers, and the like. In Punta Cana, you won’t have to give up any of the luxuries of home.
4- Advanced medical care is available in nearby cities.
You can expect health care available through public hospitals, private clinics, and even access to world-class hospitals within a short drive. The nearby capital city of Santo Domingo is home to a hospital with the latest medical equipment and top medical professionals, where health insurance is accepted.
You’ll also have access to the same medical prescriptions you receive currently.
5- Retirees qualify for a 15 year tax exemption.
Thanks to legislation, retirees qualify for a 15-year tax exemption on all property taxes, income taxes, corporation tax, etc.
If you have any interest in running a business in Punta Cana, you don’t need to own a large corporation to take advantage of these incentives. Many small business owners enjoy a great livelihood and the innate satisfaction that comes along with running your own business.
6- You may be able to enjoy the perks of a residence visa.
Retirees have the opportunity to qualify for a residence visa and the following residence card. In order to qualify for a residence visa, a retiree must provide evidence of at least $1,500 USD of monthly pension income or $2,000 USD of rental/investment income.
Residency must be obtained within 60 days of entering the country, but the incentives are well worth the effort.
7- The beaches are phenomenal.
The Dominican Republic boasts access to some of the best beaches in the Caribbean! With the beautiful views and year-round warm weather, it’s easy to see why!
Punta Cana has a stunning network of beaches: 31 miles of blue-green sea with fine white sand, to be exact. Some areas of the coast are considered national treasures because of the natural richness and abundance of sea life.
8- There are lots of things to do.
When you’ve had your fill of relaxation (if you ever do!), there is plenty in Punta Cana with which you can occupy your time.
The city offers many activities and services geared towards adults including water sports, shopping, gastronomy, world-renowned golf courses, casinos, and a vibrant nightlife.
9- The Dominicans are a welcoming people.
Many expats remark on the welcoming atmosphere in Punta Cana and perhaps the most important thing to point out is the compassionate character of the people. Dominicans are known for being very warm, respectful, kind, and honest people.
They welcome foreigners from all over the globe and treat them cordially. In Punta Cana, you will always find friendly faces willing to help you with whatever you need.
10- Punta Cana has a growing economy.
The Dominican Government is committed to the growth of tourism throughout the country. It recognizes the potential and opportunity that the beaches and scenery have to offer.
Tourist-driven businesses range from small dive shops to elegant boutique hotels. You can enjoy all of this while living in one of the friendliest, most beautiful paradises in the world.