Are There Any Hidden Costs When Buying Property in the Dominican Republic?
The Dominican real estate system is transparent when properly navigated, but foreign buyers sometimes encounter unexpected costs after closing. These expenses are rarely truly “hidden”; rather, they are costs that were not properly disclosed, verified, or explained before the transaction was completed. Common post-closing surprises include unpaid condominium fees, outstanding municipal taxes, unpaid property taxes, […]
CONFOTUR in Punta Cana: Tax Exemptions Every Buyer Should Claim
Walk through any sales office in Cap Cana, Bávaro, or Downtown Punta Cana and you will see CONFOTUR referenced in nearly every brochure. For foreign buyers, understanding what CONFOTUR actually provides, and how to claim it, can translate into tens of thousands of dollars in savings. CONFOTUR stands for the Consejo de Fomento Turístico, the […]
Buying an Apartment in Punta Cana: A Legal Roadmap for Foreign Buyers
Punta Cana is the single most active real estate market in the Dominican Republic, and the vast majority of transactions involve foreign buyers. Whether you are looking at Cap Cana, Punta Cana Resort, Bávaro, Downtown Punta Cana, Uvero Alto, or Punta Cana Village, the legal process is the same, but the market-specific details can trip […]
What Taxes Apply When Buying Property With and Without CONFOTUR?
When acquiring real estate in the Dominican Republic, buyers are generally subject to a 3% property transfer tax, calculated based on the higher of (i) the value assessed by the Dominican Tax Authority (DGII) or (ii) the declared purchase price stated in the deed of sale. This tax is typically payable as a condition for […]
Can Foreigners Open a Bank Account in the Dominican Republic?
Foreign nationals are legally permitted to open bank accounts in the Dominican Republic, but the process is subject to strict compliance requirements. Dominican banks are highly regulated and apply robust know-your-customer (KYC) and anti-money laundering standards. Opening a bank account typically requires documentation evidencing identity, legal status, source of funds, and economic ties to the […]
Can I Rent My Property Short-Term (Airbnb) in the Dominican Republic?
Short-term rentals are an integral part of the Dominican Republic’s tourism-driven real estate market, and many foreign buyers acquire property with the intention of generating income through platforms such as Airbnb. In general terms, short-term rentals are legally permitted, but their permissibility is not universal and must be evaluated on a case-by-case basis. National law […]
What Are the Ongoing Obligations If I Own Property Through a Company?
Owning real estate through a corporate vehicle in the Dominican Republic is a common and often strategic decision for foreign buyers. Corporate ownership can provide advantages in terms of succession planning, asset protection, and, in some cases, tax efficiency. However, these benefits come with ongoing legal, accounting, and tax obligations that must be clearly understood […]
Can I Use a U.S. or Canadian LLC to Buy Property in the Dominican Republic?
Foreign companies, including U.S. and Canadian LLCs, are legally permitted to own real estate in the Dominican Republic. However, the decision to use a foreign entity should never be made lightly or for convenience alone. While ownership through a foreign LLC may seem attractive from a familiarity or estate-planning perspective, it often introduces additional complexity. […]
How Long Does the Buying Process Take?
The duration of a real estate transaction in the Dominican Republic depends largely on the specific characteristics of the transaction, including the nature of the property and the level of preparedness of the parties involved. Each transaction is different and must be assessed on a case-by-case basis, as this will determine the scope of due […]
Is Escrow Mandatory in the Dominican Republic?
Escrow is not legally mandatory under Dominican law; however, it is strongly recommended and widely regarded as best practice, particularly in transactions involving foreign buyers. In the case of a resale transaction involving a third party and a property that is already built, the use of some form of escrow is always recommended. Even when […]
