Property in the Dominican Republic can be purchased by both a private and a legal entity, and the State does not impose any restrictions on its registration. The purchase scheme is below and does not depend on who will be registered with the property, whether it is a company or an individual. Foreigners without any restrictions can purchase both residential and commercial real estate. Buying property in the Dominican Republic, you invest your funds with the expectation for the future. The process of buying real estate is completely transparent and simple, without confusing schemes or long chains with many intermediaries.
The process of buying a property:
- You choose your favorite property: a villa, apartments, a plot of land, etc.
- Reserve an object to view. And once you have identified a specific object, it must be booked. The object is booked for you and is not sold for 30 days or by agreement with the seller the term can be increased.
- After your choice, you make an offer to the seller and make a guarantee of 3 to 10 of the value of the property. If you refuse your offer, we will make a full refund.
- After the deposit, the preparation of the contract begins. Depending on the degree of readiness of real estate documents and the workload of lawyers, training can take from two weeks to several months (for large objects). The contract is between the seller (the owner of the property) and the buyer (you), and is certified by the notary.
- The process of paperwork begins from the moment you have decided on the purchase and made a deposit. The object is put “offline” and automatically removed from the sales market. A date for signing the contract is set: a preliminary contract and a final Sales contract.
- You get a ready contract in Spanish. For review, with your consent, we provide a certified translator with knowledge of English, Spanish and Russian at a high level, with more than 15 years of experience, graduating from the Moscow Russian University of Friendship of the Peoples. At your request, we can translate the contract into Russian or English.
- Money transfer is a common form of money transfer through the banking system, including cash or traveller’s cheques. Money cannot be transferred into the hands of a realtor and into the hands of a seller, only at the expense of an independent notary!!! The contract is signed by a public notary who protects the interests of both parties.
- The contract is signed by three parties and comes into force after the full payment of the property. From now on, you own a property.
- Further, within a few months there is a procedure of re-registration of “Title” and “Dislinda” in your name in the registration office and payment of all taxes.
Note: There are additional costs that the buyer incurs. For example, when buying a property, the cost of the services of a notary to prepare a contract, re-registration of “Tite and Dislinda”, the payment for the work of a lawyer to reissue the property is from 1000 U.S. dollars, to 1 ( of the transaction amount. In addition, you need to pay 3.5 tax on the purchase of real estate, and if you make a property for a local company, payment 3.5 is not provided by law.
We work in accordance with the law of the DR.
