Dominican committee advances five plans to bring diaspora into the financial system and closer to homeownership
Dominicans abroad could buy a home in the Dominican Republic without traveling there. The RD Meta 2036 Financial Committee is advancing five initiatives to make it possible.
Key points
- Five initiatives: digital financial access, credit based on alternative data, a 100% digital mortgage, financial education and complementary pensions.
- The Ministry of Housing, Habitat and Buildings (Mivhed) would connect social and affordable housing with diaspora financing and support.
- A digital mortgage pilot is planned with Acoprovi, developers and local banks.
- The strategy aims to move beyond remittances toward long-term financial and asset ties.
The Financial Committee of RD Meta 2036 reported that it is advancing five initiatives to make it easier for Dominicans living abroad to access financial products, investments, financing, housing and retirement savings, using digital solutions.
The Committee stressed that the diaspora is a pillar of foreign currency generation, savings and investment. The goal is for these citizens to move beyond sending remittances and build a financial and asset relationship with the Dominican Republic. According to the Committee, the State wants Dominicans abroad to be able to buy property and help their parents, children and other relatives secure a home of their own.
Within that framework, the Ministry of Housing, Habitat and Buildings (Mivhed) would play a strategic role by connecting social and affordable housing with diaspora financing and support.
Among the five initiatives is digital financial access, which would allow remote opening of accounts and investment products at banks, brokerage firms and fund managers, under a simplified due diligence process. A credit scoring model based on alternative data is also planned. It would consider phone and utility payments, residential stability and e-commerce purchases, for people who lack a local credit history.
The 100% digital mortgage is another measure. It consists of a pilot to acquire, finance and legally register properties from abroad, without traveling or using in-person powers of attorney, under the applicable legal framework. The Committee also reported that a pilot for end-to-end digital home sales, from buyer identification to signing, tax payment and mortgage registration, would be carried out. The Dominican Association of Housing Builders and Developers (Acoprovi) would take part, along with real estate developers and local banks responsible for evaluation and financing.
Financial education rounds out the package, with a strengthened Bancarízate Paso a Paso program. The fifth and final initiative is complementary pensions, through digital access to savings mechanisms at Dominican pension fund administrators (AFP).
Why it matters
If you live in the U.S. and plan to buy a home or support family in the Dominican Republic, these initiatives could make the process easier without a trip home. Your savings could gain access to investments and retirement plans from abroad.