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The Dominican Republic is one of the most stable countries in the Caribbean.
It also has a strategic geographic location and very low labour and living costs, together with the Laws to promote the Foreign Investment, make it very attractive for those who are looking for high profitability and security.
Buying Property in Dominican Republic
There are no restrictions on foreigners purchasing a property in the Dominican Republic.
In 1998, a law was passed allowing foreigners to buy property in the Dominican Republic with the same rights and obligations as a Dominican citizen. The only requirement is that the Title Registry Offices keep a record, for statistical purposes, of all purchases made by foreigners. Acquiring property here is straightforward.
In 1998, a law was passed allowing foreigners to buy property in the Dominican Republic with the same rights and obligations as a Dominican citizen. The only requirement is that the Title Registry Offices keep a record, for statistical purposes, of all purchases made by foreigners. Acquiring property here is straightforward.
Buyer and seller sign a "Contract of Sale" before a Notario, who authenticates it. (Notaries in the Dominican Republic are required to have a law degree.) The Contract of Sale contains the legal description of the property, the price, and conditions of sale. The authenticated Contract is then taken to the nearest Internal Revenue Office for payment of the appropriate taxes. The Contract of Sale and the Certificate of Title of the seller are deposited at the Title Registry Office for the jurisdiction where the property is located, and the sale is recorded. The Title Registry Office issues a new Certificate of Title in the name of the buyer and cancels the old Certificate issued previously to the seller. The whole process can take from a few days to a few months.
Location
The Dominican Republic is the largest nation in the Caribbean and shares the Island of Hispaniola with Haiti. The landscape is forested and mountainous, with valleys, plains and plateaux. There are excellent beaches on the north, southeast and east coasts, rising up to the mountains.
Languages spoken in Dominican Republic
Spanish
Religions of Dominican Republic
Christianity
Dominican Republic Climate
The Dominican Republic has a semi-tropical climate with the coastal areas being warmer than central regions, the average yearly temperature is 26 degrees centigrade. There are two rainy seasons; the first is from May to August and is the heaviest, whilst the second from November to December is the lightest. Hurricanes may sometimes occur during these periods.
Getting to Dominican Republic
The Dominican Republic has seven international airports, the three major airports are - Las Americas Airport, Puerto Plata Airport and Santo Domingo Las Americas Airport. There are regular flights from most UK airports to Puerto Plata.
Dominican Republic Currency
Dominican Republic Peso
Call Land & Brand New Homes on 0870 7778 726 for further details.
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