From the Winston-Salem Journal Sunday, December 2nd, 2007
NEW YORK... JetBlue will offer nonstop service beginning Jan. 10 from Kennedy International Airport in New York to Puerto Plata in the Dominican Republic, and two new luxury resorts are also under construction on that Caribbean island.
The Ritz-Carlton plans to build a 220-room luxury property, opening in 2010 near Punta Cana.
The Four Seasons Hotels and Resorts will build its first property at Casa de Campo; it will open in the winter of 2009.
The Caribbean’s first Maxim Bungalows are scheduled to open in Cofresi Beach in January, with units ranging in size from studios to two-bedroom suites.
Additional Maxim Bungalows are scheduled to open in Juan Dolio in late spring of next year.
Santo Domingo’s Sans Souci Port is reopening, with Royal Caribbean’s Legend of the Seas inaugurating the renovated port on Dec. 16.
The port will eventually include four separate ship terminals with docking areas; a shopping mall and duty-free shopping area; a beach club; two 900-room hotels and convention center; and a luxury condominium development.
The project is scheduled to be completed by 2010.
DR becomes retiree paradise
With the approval and publication of Law 171-07 on Foreign Retirees, the Dominican Republic has become a paradise for people planning to retire to an idyllic setting. Fast-tracked residency paperwork (45 days), duty-free household goods, reductions on motor vehicle taxes, exemption on transfer taxes for the first purchase of real estate, 50% reduction on taxes on mortgages, 50% reduction on the annual property tax, exemption on taxes on dividends and interest, 50% reduction on capital gains are just some of the attractions. Developers are very happy with the new law. Just ask Jose Luis Asilis, the president of the Metro Group, who pointed out the need to publicize the news overseas. Asilis told a meeting organized by Listin Diario that Europeans can "live like kings on a fraction of what they receive in pensions."
The minimum monthly income required is US$1,500 US for retirees with a government or private pension and US$2,000 in verified income from all others.
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