How to send money to the Dominican Republic in 2026: to a dollar or peso account in 1-3 business days, for a home and an investment

Money reaches the Dominican Republic by bank transfer in 1-3 business days: to a dollar account with no exchange or to a peso account at the recipient bank's rate, and currency exchange in the country has been free since 2002. The sender gives a 28-character account number and the bank's international code. In 2026 the bank checks the purpose, and from $10,000 asks for a statement and a document for that purpose.

In detail

Money is sent to the Dominican Republic by bank transfer in 1-3 business days: to a US dollar account with no exchange, or to a peso account at the recipient bank's rate. Currency exchange in the country has been free since 2002. The sender gives a 28-character account number and the bank's international code; from $10,000 the bank asks for a statement.

A transfer to the Dominican Republic on 8 October 2026: 4 working routes

All 4 routes were checked on 8 October 2026, and amounts are converted at 60.4 pesos per US dollar. For a transfer from abroad the sender's bank gives the account number in the 28-character international format and the recipient bank's international code.

Is the sender's bank asking about the purpose of a transfer to the Caribbean? There are usually more options than it seems: a manager will check your case and suggest a route for your amount and timing.

A dollar or peso account: which currency to keep on the island

The 2002 Monetary and Financial Law made currency exchange in the country free. Banks open peso and US dollar accounts for foreigners, and resort homes, villa rentals and many services for visitors are priced in dollars from the start. So a large sum is easier to send in dollars and change into pesos in parts, as expenses come up.

An account is opened with a passport plus documents on income and the source of the money, and with a residence permit a resident card and a tax number are added. The tax administration issues a foreigner's tax number by passport, and it is also needed to buy a home.

Deposits are protected by the central bank's fund: since March 2025 up to $39,000 (2,355,000 pesos) per person. The bank withholds 10% on deposit interest, and this tax is final. Inside the country money moves between banks through the central bank's system on the same day, and in 2027 the central bank launches a new instant payment system: money will arrive in about 10 seconds by phone number or email.

Independent income and pensions: $2,000 and $1,500 into the country every month

A residence permit for a person of independent means is granted with a steady income from abroad of $2,000 a month (120,900 pesos), and for a pensioner with a pension of $1,500 (90,700 pesos). The threshold rises by $250 a month for each family member, so a family of three needs $2,500. Independent income is proven by a contract of at least 5 years: from deposits, investments in companies, rent or securities abroad.

The main condition concerns transfers: the money must reach the Dominican Republic by bank transfer for the whole term of the residence permit. The first card is issued for 1 year, then for 2 years, and at each renewal the migration service reviews statements of incoming payments. So it is convenient to send the income on the same date each month to the same account in the country.

In return, the law on pensioners and persons of independent means gives benefits: the first apartment is bought without the 3% tax, the annual property tax and mortgage taxes are halved, and household goods are imported duty-free. A pension from abroad does not become local income. Documents and steps are on the residence for persons of independent means in the Dominican Republic page.

A residence permit for $200,000: the investment comes from abroad

An investment of $200,000 (12.09 million pesos) or more in a Dominican company or property gives permanent residence at once, without a temporary stage. The money is sent from abroad, and the state investment agency certifies the investment. Since March 2024 investor applications are accepted through the single investment window, and the law allows about 45 business days for review.

A spouse and dependent children get residence together with the investor. A transfer to buy an apartment for $200,000 or more covers both the home and the grounds for residence, if the deal documents are prepared for the application. A manager will suggest how to make the transfer so the agency counts it as an investment from abroad.

An apartment by the sea: 3% on purchase and 1% a year above 10.7 million pesos

Foreigners buy homes with the same rights as citizens, without separate permits. Demand is concentrated in Punta Cana, Cap Cana, La Romana, Las Terrenas and Santo Domingo, and prices there are set in US dollars. The buyer pays by transfer, pays a 3% transfer tax on the price or the tax valuation, whichever is higher, and registers the title in the state title registry.

The annual property tax is 1% of the total value of all of the owner's properties above $180,000 (10,695,494 pesos). Apartments in tourism projects approved under the tourism development law pay neither the transfer tax nor the annual tax for 15 years, so the project's status is checked before the deposit.

Example: an apartment in Punta Cana for $250,000 (15.11 million pesos). The transfer tax is $7,500 (453,200 pesos), the annual tax about $730 (44,100 pesos) on the value above the threshold, and the lawyer and title check about 1-1.5% of the price. On a sale the owner pays 10% of the gain.

So that the deposit goes to the seller's account only after the title and cadastral plan are checked, we will suggest how best to send the money in stages of the deal. Properties and checks are on the property in the Dominican Republic page.

Taxes after the move: 2 years without tax on foreign investments

You become a tax resident after 182 days in the country in a calendar year. Mainly local income is taxed: salary on a 15%, 20% and 25% scale above $6,900 (416,220 pesos) a year. A new resident does not declare income from foreign investments, dividends and interest from abroad for the first 2 years; tax on them starts in the third year of residence.

From 2027 the tax-free threshold will rise to $8,000 (480,000 pesos), and the top 27% rate will apply to income above $80,000 (4.8 million pesos). The country has double tax treaties with Canada and Spain. Rates, return deadlines and benefits are on the taxes in the Dominican Republic page, and a country overview on the Dominican Republic page.

What to show the bank for a transfer to the Dominican Republic by amount

• Up to $10,000. The bank checks the name, account number and purpose: rent, first weeks' expenses, a transfer to family.
• $10,000-100,000. The bank asks for the sender's account statement and a document for the purpose: a rental contract, a deposit agreement, proof of pension.
• From $100,000. The bank studies the source of all the capital: the sale of an apartment or business, inheritance, years of savings. For an investor residence permit the investment agency reviews the same file.

General rules are in proof of source of funds and moving home sale proceeds abroad, and a plan for all your capital on the capital relocation page.

From the Dominican Republic onwards: the USA, Spain, Canada

According to the central bank, in 2025 the country received $11.87 billion in transfers from relatives abroad, 10.3% more than a year earlier. About 80% came from the USA and Spain came second: these are also the most common destinations for money leaving the country.

• To the USA: New York and Miami, home to most Dominicans abroad.
• To Spain: a double tax treaty and a shared language.
• To Canada: the second tax treaty and direct flights from Punta Cana.

Sending money to nearby countries

• How to send money to Mexico: Cancún and the Caribbean coast
• How to send money to the Cayman Islands: funds and banks with no income tax
• How to send money to the British Virgin Islands: companies and yachts
• How to send money to Haiti: the national currency is the gourde
• How to send money to Jamaica: no currency controls
• How to send money to Cuba: in foreign currency and in pesos

How to move capital as a whole and in what order to send the money is covered on the capital relocation page.

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