Why Invest?
The Caribbean region is made up of so many diverse countries and islands that have such extremes of economic prosperity and political stability, so the investment opportunities available to a real estate investor across the Caribbean region are incredibly broad.
Market Report
Our forecast is that the housing prices will continue to rise in the future as the housing market is still flourishing here.
[ More Info ]
Economic Overview
The Dominican Republic had one of the fast growing economies in the world in the 1990s. Dominican Republic owed much of its success to the adoption of sound macroeconomic policies in the early 1990s and greater opening to foreign investment.
[ More Info ]
Visa/Residency Issues
Tourist visas and single-entry Business visas: 60 days. Multiple-entry Business visas: up to 1 year. Visa is not required by citizens of Argentina, Chile, South Korea, Ecuador, Iceland, Israel, Japan, Peru, Liechtenstein, Uruguay.
[ More Info ]
Getting To Caribbean Islands
All the major Caribbean destinations are easily accessible from the UK with the main carriers. Dominican Republic is approximately 10 to 11 hours flying time from London.
[ More Info ]
Fees & Taxes
-
The income tax system seeks to tax corporate earnings only once, at the corporate level. However, a 25% tax is imposed on the corporation on distributions.
-
A value-added tax (VAT) is recently introduced at 15% replacing the old sales taxes.
-
If you purchase a residential property and it is worth RD$5 Million Pesos or less (about US$150,000) then you pay zero annual real estate taxes. If the home is worth more than that amount, you pay 1% (one percent) of the value over and above RD$5 Million Pesos (over and above US$150,000).
[ More Info ]
|
|
Caribbean Islands
|
 |
Basic Information
| Population |
8,895,000 |
| Languages |
Spanish (official) |
| Area |
18,810 sq mi |
| Currency |
East Caribbean Dollars (XCD) |
| Dialing Code |
+1-829 |
Caribbean Islands Overview
The Dominican Republic is a country located on the eastern two-thirds of the Caribbean island of Hispaniola, bordering Haiti. Hispaniola is the second-largest of the Greater Antilles islands, and lies west of Puerto Rico and east of Cuba and Jamaica.
Average Property Prices
Coming Soon...
Buying Process
- If you want to become a resident or citizen in order to purchase real estate in Caribbean islands than you need to present a copy of a current and valid passport as the identity document used for any sales contracts and eventual titles obtained from the title office.
- Recent legislation passed in the country has also strengthened the legal rights of foreigners in the legal system as it pertains to property ownership and investments inside the country.
- One aspect of the property purchase process that may be different for someone coming from another country is the fact that a notarized sales contract constitutes an immediate legal right of sale and possession. The meaning of this is, the moment both the buyer and seller sign the sales contract, exchange payment and have the contract notarized, the buyer has the immediate legal right to take possession of the property.
- Immediately following this, the process of registration of a new title into the buyers name begins, but in terms of legalities the initial notarized sales contract has legal weight under the law for ownership purposes.
- Again, the title transfer in some respects can be considered somewhat of a formality that can take anywhere from 45 to 90 days, depending upon the expediency of the government title registration office.
[ More Info ]
|
