Residency insurance?

We are in the process of renewing our residency  (for the 4th time) and this is the first time we have run across the need for immigration insurance guarantee which is a charge of $115 USD per person.  I think i have seen somewhere that you do not need this if you have either
Car titled in your name
Bank accounts
Property (home) title.
Can anyone confirm this before we waste even more money on once again renewing something that is permanent.???
Thanks

Bob K

I was just hit with this fee at the consulate ladt week as I applied for my visa. Was told its a new mandatory policy

I have not heard about the exceptions Bob. I will ask my lawyer.

Really? Aren't we paying the government enough? We live in DR, every peso we  have in their banks, and spend here stays in the country, etc.. That's in addition to all the many processing fees we've already paid. I guess you can't take what the president said in his January 27th speech seriously he said he would make it easier to bring in foreigners into the country, including offering health insurance (probably national insurance, Planner might know)  But, I don't see any changes coming anytime soon. In the mean time, looks like we'll need to start opening our wallets.

This insurance pays should you be deported from the country.

In the big picture, it is still easier to qualify here. It is still much cheaper here then many places.

I had to pay this insurance as part of my application for Temp Visa. It  has been in place for  about three months and it supposedly is for exactly as Planner has stated. I located BM Cargo and got a fair price from them.

His question is in regards to renewal and whether having assets negates the  need. I am waiting on a response from my lawyer.

Bob that is correct on renewal,if you have assets you do not,need the insurance. Lawyer confirms!

Thanks.  However a few hoops to jump through and it takes more time, which we currently do not have.  So bought the damn insurance :(

Bob K

I would imagine you have to show proof to,avoid buying the Insurance.

When you have time Bob tell us the process.

The last thing we want is personal finance info given to anyone so i look at the insurance as a necessary evil.  Funny thing is that the policy is good for 1 year and the residency is good for 4 years....Dominican thinking at it's finest.

I will keep you all posted as to our progress.  It sounds like two trips to PP which is one more than i want and one trip to SD in a couple of weeks which we will hate. :)

Bob K

So once again doing things here are as clear a mud.
We just got a call from the insurance company telling that since we already have permanent residency we do not need the insurance and they are going to refund our money to our bank.
????????
So now applying for the renew on line and we will see what happens
Stay tuned ....

Wow. Gotta love it.

Yep.  Hoping for medical next week (need to wait for approval of our applications) and then the cards in SD the following week.

Bob K

Hi!

Does anyone know the current situation?
When first receiving temporary recidendy and then for the process got the insurance, it it required to keep the insurance valid constantly when having the residency or just for the time of the processing it takes for DGM to handle the case when renewing temporary residency?
For example insurance starts 1/2018, temporary residency received 4/2018. Insurance valid for a year so until 1/2019. Time to renew temporary residency 3/2019. New insurance from 3/2019 onwards or new insurance already 1/2019?

Good question that has never been asked.   I will ask the lawyer I use.

Let's see if anyone else knows but I have never heard of anyone buying it for renewals.

Okay, good.
Let´s wait for a reply :)

In the requirements for a renewal there is a point that says the insurance is required. So that´s why I ask.

The need for insurance when you renew depends on the type of residency according to the lawyer

For example, a retiree residencia in renewal they MAY request the insurance if there is not sufficient evidence of solvency.