Whether you’re interested in a vacation home or a rental property (or both), the Dominican Republic is an excellent choice. The DR is friendly toward foreign real estate investment, and taxes are remarkably low (3% initial transfer tax and annual property tax equivalent to 1% of value in excess of $147,000 USD). In addition to the beautiful climate and immaculate beaches that you and your family can enjoy, the long high-season and active tourist industry make it a very profitable choice for an income property.
LOOKING TO BUY OR SELL A PROPERTY IN THE DOMINICAN REPUBLIC?
WHY YOU NEED A LOCAL LAWYER TO BUY OR SELL IN THE DOMINICAN REPUBLIC
What are the legal and administrative steps for buying or selling a property? Should I transact as an individual or as a company? What are the risks involved in buying a property under construction? How do land rights/permits work in the DR? What is the process for obtaining Dominican residency?
These are some of the questions you’re probably asking yourself, and these are the exact questions and concerns that our Dominican real estate lawyers can answer. In addition to helping you make an informed choice, our lawyers can negotiate the best possible contract, ensure that the property is free of any legal or tax liabilities, and produce & process all necessary documents for the sale.
Protect your investment and avoid any unforeseen financial risk!
As a local law firm, we work hand-in-hand with large real-estate agencies to provide our clients with everything they need to successfully purchase and sell real-estate in the Dominican Republic. Each of our clients benefits from our local ties and in-depth knowledge of Dominican real estate law and practices.
WHAT WE BRING TO THE TABLE
- Caring and personalized service— Our attentive team of professionals is committed to protecting your rights and interests. We understand what a big deal this transaction is to you. From start to finish, we strive to ensure your satisfaction and peace of mind.
- Expertise and experience—We specialize in helping foreign investors navigate the Dominican real estate landscape: every year we are involved in hundreds of successful commercial transactions. We approach every transaction and operation with strict professional standards, remaining fully committed to our clients’ goals.
- Multilingual service—Our team of professionals is fluent and well-versed in Spanish, English, and French. This has given us extensive experience in handling the challenges of conducting secure business across language barriers. No detail of your circumstances and needs will be lost in translation.
- One-stop shop—Need to apply for residence or set up business in the Dominican Republic? We can help with that, too. In addition to real estate our firm practices corporate & immigration law as well as financial & tax accounting.
Real Estate Taxes:
Real estate property transfer tax
In the Dominican Republic, real estate transfers are subject to a tax equivalent to 3% of the property’s purchase price or 3% of its registered value, whichever is greater.
Real estate property tax
There is a 1% tax on the excess value of properties held by the same owner, the individual or joint value of which exceeds 7.5 million Dominican pesos or its equivalent in dollars.