About the Real Estate investment:
The Real Estate investment market in the Dominican Republic is a dynamic and fast-growing market supported by a solid infrastructure, steady economic growth, and business-friendly legislation all contributing to solidifying its position as the number one place to purchase Real Estate in the Caribbean.
To purchase property in the Dominican Republic you need a valid passport and another form of government ID that has your current address. With seven international airports, by air, the Dominican Republic is only two hours south of Miami.
The real estate industry has been significantly fostered by government decrees that stimulate tourism and provide significant tax incentives to the investors in Tourism Development Promotion. One of the main Laws supporting this is the CONFOTUR [Law No. 158-01]. Its purpose is to attract sustainable tourism by offering tax incentives to investors.
For example, there is a 100% tax exemption for a period of 15 years in the Dominican Republic on the following:
Rental income
Capital Gains
Company Incorporation and Capital Increase
Real Estate Transfer
Real Estate Property
The Dominican Republic has undeniable potential for foreign investors looking for new business opportunities, with real estate in tourism areas definitely being a very attractive sector.
Our office can simplify the buying process and comply with all the due diligence for the closing. In order to be successful during the closing of real property, it is essential to have experienced advisors involved, since buying a property will require you to meet several legal procedures, as well as knowing the best interest rate in the market at the time of said transaction. in case you are going to take a mortgage.
Also, it is important to consider details pertaining to property conditions and if you are acquiring a property under development you will want to have your attorneys advising you during the construction process, and review the purchase document with details regarding the date of delivery and form of payments (separation, initial, mortgage), price market in the area, basic services, security, etc.
Our office can assist with assessing details such as the environment of the property you are looking for, maintenance to pay (in cases of gated communities or condominiums)
If you have already chosen property and are interested in buying it, our office can assist with reviewing the property title and confirm that is cleared from any clouds or liens we can also assist with preparing closing documents. Below you will find a list of some of the documents that are required to conduct a lawful closing:
Notarized Act of Sale
It is vital to be able to verify what is stipulated in it and validate the signatures with the IDs
Certification of Legal Status of Property:
Said document will be necessary to know that in this property there is no type of encumbrance or opposition for sale, in addition to verifying that there is no inconvenience on or behind this property.
IPI Real Estate Property Tax Certification
With this it is verified if the property does not have tax to pay, that is to say, that it is up to date with a said tax or exempt from it.
Copy of the Seller’s ID or ID:
This document will serve to verify said seller, in addition to being required in all processes to be carried out before the corresponding parties.
In the event that the seller is a company and/or company, you will need to review:
Constitutive documents of the company, as well as the meeting minutes where the shareholder partners authorize the signatory to sell the property to you.
Copy of the identity card of the company representative.
In case the property is financed in a bank, you must ask the seller:
Certification of Debt from the Bank where you have the financing
Filing of debt balance in the bank addressed to the Real Estate Jurisdiction
Copy of the buyer’s ID
Copy of the property survey (if it is a plot or a house)
It must be approved by the pertinent surveyor’s department in the Dominican Republic.
In the event that the seller or buyer is outside the country, it will be necessary, if the case warrants it: Consular Power, Payroll, Social Security, Passport, etc.
If the Seller or Buyer are married, the Identification and signature of Both will be needed
Note: It is important to make a survey to validate the property’s legal description.
Feel free to contact us for assistance in helping you with real estate opportunities in the Dominican Republic.
The Real Estate investment market in the Dominican Republic is a dynamic and fast-growing market supported by a solid infrastructure, steady economic growth, and business-friendly legislation all contributing to solidifying its position as the number one place to purchase Real Estate in the Caribbean.
To purchase property in the Dominican Republic you need a valid passport and another form of government ID that has your current address. With seven international airports, by air, the Dominican Republic is only two hours south of Miami.
The real estate industry has been significantly fostered by government decrees that stimulate tourism and provide significant tax incentives to the investors in Tourism Development Promotion. One of the main Laws supporting this is the CONFOTUR [Law No. 158-01]. Its purpose is to attract sustainable tourism by offering tax incentives to investors.
For example, there is a 100% tax exemption for a period of 15 years in the Dominican Republic on the following:
Rental income
Capital Gains
Company Incorporation and Capital Increase
Real Estate Transfer
Real Estate Property
The Dominican Republic has undeniable potential for foreign investors looking for new business opportunities, with real estate in tourism areas definitely being a very attractive sector.
Our office can simplify the buying process and comply with all the due diligence for the closing. In order to be successful during the closing of real property, it is essential to have experienced advisors involved, since buying a property will require you to meet several legal procedures, as well as knowing the best interest rate in the market at the time of said transaction. in case you are going to take a mortgage.
Also, it is important to consider details pertaining to property conditions and if you are acquiring a property under development you will want to have your attorneys advising you during the construction process, and review the purchase document with details regarding the date of delivery and form of payments (separation, initial, mortgage), price market in the area, basic services, security, etc.
Our office can assist with assessing details such as the environment of the property you are looking for, maintenance to pay (in cases of gated communities or condominiums)
If you have already chosen property and are interested in buying it, our office can assist with reviewing the property title and confirm that is cleared from any clouds or liens we can also assist with preparing closing documents. Below you will find a list of some of the documents that are required to conduct a lawful closing:
Notarized Act of Sale
It is vital to be able to verify what is stipulated in it and validate the signatures with the IDs
Certification of Legal Status of Property:
Said document will be necessary to know that in this property there is no type of encumbrance or opposition for sale, in addition to verifying that there is no inconvenience on or behind this property.
IPI Real Estate Property Tax Certification
With this it is verified if the property does not have tax to pay, that is to say, that it is up to date with a said tax or exempt from it.
Copy of the Seller’s ID or ID:
This document will serve to verify said seller, in addition to being required in all processes to be carried out before the corresponding parties.
In the event that the seller is a company and/or company, you will need to review:
Constitutive documents of the company, as well as the meeting minutes where the shareholder partners authorize the signatory to sell the property to you.
Copy of the identity card of the company representative.
In case the property is financed in a bank, you must ask the seller:
Certification of Debt from the Bank where you have the financing
Filing of debt balance in the bank addressed to the Real Estate Jurisdiction
Copy of the buyer’s ID
Copy of the property survey (if it is a plot or a house)
It must be approved by the pertinent surveyor’s department in the Dominican Republic.
In the event that the seller or buyer is outside the country, it will be necessary, if the case warrants it: Consular Power, Payroll, Social Security, Passport, etc.
If the Seller or Buyer are married, the Identification and signature of Both will be needed
Note: It is important to make a survey to validate the property’s legal description.
Feel free to contact us for assistance in helping you with real estate opportunities in the Dominican Republic.