dominican republic investment information

Why buy in The Dominican Republic?

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 Laws to promote Foreign Investment, which make it very attractive for those seeking high profitability and security.

The island is the 3rd largest in the Caribbean and boasts beautiful beaches stretching for hundreds of kilometres. The Dominican Republic landscape makes it a fascinating land of adventure ideal for lovers of the outdoor life.

Over the course of the last 20 years, an ever-growing number of holidaymakers have travelled to the Dominican Republic from around the world. The island is extremely popular with visitors from North America and mainland Europe, in addition to the UK.

A great deal of investment is being made in the development of resort communities in the Dominican Republic. With tourism being the number one industry in the Dominican Republic, investment in the tourism trade through the real estate market is proving to be profitable for many people, including an ever-growing number of foreign nationals.

There is now a growing trend moving away from the all-inclusive resort style of accommodation to more up-market 5 star gated communities. The investor is able to buy their choice of luxury apartment or villa offering a rental return and the opportunity for personal use.

With the advent of 70% loan to value mortgages in the Dominican Republic the cash requirement when buying property is reduced. With high occupancy rates at coastal hotels and resorts there is a prospect of excellent rental returns.

Buying Property in The 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.

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

For detail about any of our Barbados property investment opportunities visit our contact page or call us on +44 1483 748 629 (Freephone 0800 038 0000).