Legal Information
Property Tax
Property Tax (Impuesto Sobre La Propiedad)
Real estate in the Dominican Republic is subject to an annual property tax (“IVSS”) of 1% of appraised market value in excess of RD$8,000,000 pesos ($160,000 USD), payable every year on or before March 11.
Real Estate Transfer Tax
Real Estate Transfer Tax (Law 33-91)
Once a property has been purchased, the following will need to be delivered at the DGII in order to request authorization to pay the transfer tax:
- Original of the Sales Contract
- Seller property Title Certificate
- Seller Personal Identification
- Buyer Personal Identification
Buying Property in the Dominican Republic
Buying Property in the Dominican Republic by Guzmán Ariza & Asociados
Real estate transactions in the Dominican Republic are governed by Property Registry Law No. 108-05 and its Regulations, in force since April 4, 2007. Ownership of property is documented by “Certificates of Title” issued by Title Registry Offices.
For more details on the steps involved in a Real Estate Transaction including:
- Promise of Sale
- Deed of Sale (“Contrato de Venta”)
- Determination and Payment of Transfer and Registry Taxes
- Filing at the Registry of Title
- Certificate of Title
- Due Diligence
- Title Search
- Survey
- Inspection of Improvements
- Permits
- Possession
- Employees
- Utilities
- Taxes and Expenses on Property Transfers
- Property Taxes
- Title Insurance
- Purchase of Real Estate by Foreigners
- Inheritance of Real Estate by Foreigners
- Real Estate Agents
Deslinde Procedure Necessary for Real Estate Transactions
“Deslinde” Procedure Necessary for Real Estate Transactions after April 4, 2009 (ENGLISH)
The new Property Registry Law (Law #108-05) that has been in effect since April 4, 2007, and its enabling regulations, have drastically changed Dominican real estate law. One essential element of this modernization has been the requirement of a “deslinde” for all real estate transactions: purchases, sales, mortgages, condominium formation, etc.
Dominican Foreign Investment Law 16-95
Dominican Foreign Investment Law 16-95
The Law 16-95 allows almost any type of foreign investor, without the need of prior approval from the Central Bank, to buy through the commercial banks the foreign currency needed to remit abroad all the capital invested and the dividends obtained from the investment. These provisions entailed a substantial amendment of the regime applicable to foreign investments that led to.
Retirement in Dominican Republic
Incentives for Pensioners and Renters – Opting to retire in the Dominican Republic, Pensioners and Renters from foreign countries can count on the New Law 171-07, Special Incentives law for Pensioners and Renters that would give them ample benefits in the Dominican Republic of low taxes and peaceful living.
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