Buying Property in the Dominican Republic

Many seasonal Investors view the Dominican Republic as the last great Investment Opportunity in the Caribbean.

A number of incentives have been put in place by the Government to encourage Foreign Investment and they have begun to nurture the tourism sector.

• Firstly there are NO restrictions on Foreigners buying property in the Dominican Republic.
• For the First Purchaser of a new property there is NO stamp duty on the purchase.
• NO V.A.T
• No Tax on rental Income.
• No Capital Gains Tax charged if the Investor chooses to sell.

Foreigners can easily purchase property in the Dominican Republic. A Binding promise of sale or option to purchase is prepared by the company and is signed by both parties. A this time a deposit of $10,000 is taken to reserve the property and then 30% of purchase price less the $10,000 is paid on exchange of contracts. Once this has been paid the investor will then become the freeholder of and own the actual plot of land.

A Finance package can be organized for the 30% down through our financial partners. Please do not hesitate to contact us in relation to this.

At present in the Dominican Republic there are Occupancy levels in excess of 86% annually with Demand Growing at a steady pace.

Research carried out by the Caribbean Tourist Organization reveals that 25% of all Europeans travelling to the Islands in the Caribbean name the Dominican Republic as there preferred destination for Vacation.

4 Five star hotels by the Prestigious Bahia Principle group have all opened in the last six months in Samana, three of which are located within half an hour of the Royal Palm residence.

Samaná remained virgin up to now because of the difficult access, but this is part of the past now as with the opening of the international airport at El Catey,the motorway to the capital, strong foreign investors have already purchased. Even the Secretary at the tourism office is building a project in Samana named “Vista Mare”.

There will be four 5 star hotel A 18 hole golf course at las Terrenas is the first one in Samaná.”Las Terrenas Country Club" A marina with a project of 300 villas is under construction in las Terrenas.

”Pueblo Bonito" Another project of 80 villas, hotel, with a private marina in the bay of Samaná”Puerto Bahia.

Work is set to begin also on a new Marina and shopping complex in the Port of Samana to cater for the 80 cruise ships which already this year will nestle in her Harbour, this being the first time Cruisers have stopped by it is expected that this number will rise rapidly as the Port continues to grow in amenities. It will include Tax Free shopping Units, Apartments and Villas.

Work on a project named Rincon Bay is set to begin later in the year, this project boasts that it will be one of the finest, most exclusive Developments in all of the Dominican Republic. It will feature two Jack Nicholas golf courses, luxury spa’s and resorts and is located just twenty minutes from the Royal Palm Residence.