Top 5 Things You Should Know Before Buying Property in the Dominican Republic
Investing in real estate in the Dominican Republic is a strategic decision that can offer great financial and personal benefits. Whether you are looking for a vacation home, a rental property or a place to retire, it is essential to understand the local process and legal aspects. Here are the five most important things every foreign buyer should know before purchasing a property in this Caribbean paradise.
1. Foreigners Have Full Rights to Buy Property
One of the biggest advantages of investing in the Dominican Republic is that foreigners enjoy the same property rights as local citizens. There are no restrictions for non-residents to purchase property, and you can do so directly in your own name.
2. Partner with a Trusted Real Estate Agency and Lawyer
Choosing a recognized real estate agency such as Innova Real Estate guarantees you local experts who will guide you through the entire process. In addition, we offer free legal advice to our clients to help you verify titles, perform due diligence and ensure a legal, safe and surprise-free purchase.
3. Take advantage of CONFOTUR’s Tax Benefits and know the associated costs.
One of the biggest incentives to invest in the country is the CONFOTUR Law, which offers significant tax exemptions for approved tourist properties. This includes exemption from transfer tax, IPI (Real Estate Property Tax) for up to 15 years, and other benefits that can represent considerable savings. In addition to the purchase price, consider also legal, notary and registration fees if the property is not covered by CONFOTUR.
4. We only offer Properties with Verified and Transparent Documentation.
At Innova Real Estate, every property we offer has previously gone through a rigorous legal verification process. We do not market properties that do not meet all legal requirements, including a registered title and free of encumbrances. Thus, our clients can invest with total security and confidence from day one.
5. We Help You with Non-Residency Financing
Most of our clients are foreign, and we understand that accessing financing can be a challenge. That’s why we connect you with reliable banks and assist you through the entire process, including opening accounts in US dollars. Our team accompanies you to access the best conditions, without complications and without the need for residency.
Final Reflection
Buying property in the Dominican Republic is a clear and reliable process when you are well advised. At Innova Real Estate, we are dedicated to accompanying international buyers with personalized attention and in-depth knowledge of the market.
Ready to take the first step towards your investment in Punta Cana? Contact us and let’s make it happen together!
