There are no restrictions on foreign ownership of property in the Dominican Republic. Residents and non-residents enjoy the same rights as Dominican citizens regarding the purchase of real estate.
All real estate transactions are determined by law, in this case Law 108-05 relating to the registration of property and its regulations, in force since April 4, 2007.
Content 2 Interest is divided into two parts, either self-interest or commercial interest. As for self-interest, the country’s beaches are exceptional, nature is lush and generous, the Dominican population is number one in the world for its friendliness and joy of living and above all it will have an incomparable quality of life. Enjoy an exciting new lifestyle!
If you can without groping, building a luxury home in a residential area guarantees dream accommodation. It is also possible to take advantage of the property by renting. And this is the second interest because the Dominican real estate sector is expanding, it is the destination where it is nice and hot all year round, real estate capital gains are increasing much faster than taxes, taxation is simplified as much as possible, therefore If a property is intended only for a second home, the best way to make it profitable is to rent it.
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The first thing to know: the process of buying a property in the Dominican Republic can be very different from the one practiced in your country of origin. For example, there is no written offer concept, so if you find a property for sale that you want to buy, check its legal status without delay. In fact, some may sell assets that do not belong to them.
There are three main controls to perform:

Go to the local securities office and verify that the person selling the property is the real owner. Check for a mortgage or lien on the property. If there are, it will be on the back of the title.
Go to the Internal Revenue Tax Agency (DGII) and check that all property related taxes have been paid. Of course, you can do it yourself, but most potential buyers hire a specialist attorney to handle this task.
You should also check whether an official government demarcation survey, known as demarcation, has been conducted.
In the Dominican Republic, the sale price of the property is generally verbally agreed between the buyer and the seller. However, a price offer can be made to the seller.
As soon as the parties agree, a promise of sale is made by the seller’s attorney and the signatures are attested by a notary. At this point, it is normal to pay an advance of 10% of the sale price. Note that it is up to the buyer to cover the legal costs of the seller.
The promise of sale must include:
The full name and details of all parts. If the seller is married, the spouse must also sign.
The complete legal description of the property for sale,
The purchase price and payment terms. Note: Payment terms are generally flexible, so there may be some form of property financing,
The default clause,
The date the keys are delivered. A reasonable period of at least 1 (one) month is still required in the event that title and tax audits have not yet been completed (verification of existing tax payments or privileges if necessary)
The remedy in case of misrepresentation,
Seller’s obligation to sign the drawback as soon as final payment is received
In some cases, the promise of sale does not take place and the parties go directly to the sale deed.

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