Live the dream!
Are you young, a mid-lifer or older? How would you like to own your own condo in Cabarete, One of the hottest ocean towns in the Caribbean, and make a good return on your investment every year.
Example: We have some for $35,000 and $55,000. Some of you have this money laying around earning 2% or perhaps even less. So now can you own your own Caribbean dream property and earn up to 10%? Email me for details.
Now here is the really great part. The Dominican Republic as a country and this area are still way under priced. Similar units sell for two to three times as much in other Caribbean islands. We are still paying catch up. Due to the economy, prices have dropped by 20-40%. This is a real buyers opportunity! Take advantage of it while it lasts!
Email me for more information. Stay at the popular Casa Blanca while you shop around. I will even refund you a weeks rent at the Casa Blanca when your sweet purchase closes. Book your vacation and come on down to get in on the action! Make your Dream of retiring to the Caribbean a reality.
William Ostermann was trained and licensed as a professional Real Estate agent in Canada. He is involved in selling all kinds of real estate in the Dominican Republic.
William is registered with Prestige to be able to show you any villas, condos or other property you may be interested in purchasing, regardless of what web site you find it on.
There is a good selection and this area is growing in value every day. There will be 85 million people in North America retiring in the next 20 years and only limited amount of good ocean property near an International Airport available. Email me for more information and for a list of properties for sale. We also do referrals with our partners in the USA, Canada and worldwide. Send us your buyer clients and the referral commission will pay for your next Caribbean vacation.
We have a full range of properties, from condos below $25,000 USD to private mansions selling for $5,000,000 USD. Email me with information regarding the type of property you are looking for and I will send you details and options. Before buying in the DR there are many things you need to know. I would be happy to share my expertise with you.
Two stories, 4 bedroom, two bath, pool, Jacuzzi, vaulted ceilings. Beautiful yard, very quiet area. The lot is large and you will enjoy relaxing by the gorgeous pool with bar. A good price for this villa.
Call to view.
Property Features: 4 bedroom, two bath, pool, Jacuzzi, vaulted ceilings
|ARE YOU READY TO LIVE YOUR DREAMS IN A CARIBBEAN FANTASY? Situated on nearly an acre of beautifully landscaped property directly on the ocean in the premiere North Coast resort community.|
The dream of having a place in the Caribbean
We will help you to realize the dream of having a home or investment in the Dominican Republic. We will show you our best properties that suit most to your needs and desires, inform you about everything you need to know before purchase, and even after the process we will help you with any question or problem.
The Dominican Republicis wide open to foreign investment, and many foreigners have already managed to make a living in the Caribbean. On this page we will introduce you to the basics of investing in to Real Estate in the Dominican Republic. For general information about the Dominican Republic click here.
There are many Real Estate opportunities available, whether you're looking to purchase a vacation property, investment property, a commercial property, or a permanent home, the purchase of Real Estate in the Dominican Republic has become a low risk transaction, just like in any other democratic government, the Dominican Republic has a transparent and reliable framework for Real Estate transactions.
Real Estate purchase in the Dominican Republic
There are no restrictions for foreigners on purchasing Real Estate in the Dominican Republic. The right to own private property is guaranteed and recognized by the government In the Dominican Republic every individual or corporation, whether national or foreign, is allowed to make real estate transactions. There are traditionally two ways to do it, as and individual or through a business entity.
In most cases (if not previously negotiated otherwise) a 10% down payment is transferred to the Lawyers escrow account (trust account) which is located at a US bank, until all the Titles, Taxes, etc. have been checked for debts and originality by the buyerís lawyer. As soon the lawyer confirms all papers to be in order and all the paperwork is done the funds at the trust account and the remaining amount of the purchase price can be transferred to the seller, in order to complete the transaction and to transfer the title to the buyers name or company.
Property Tax The transfer of real property is subject to the payment of the following taxes and duties, these numbers are only approximate and may vary between location and the type of property
(i) 3% of the purchase price
(ii) 12% of (i)
(iii) in some cases, 2% of the purchase price on the seller's account
(iv) Stamps for purchase price/1,000 x 2.
Property and Ownership Information
In the Dominican Republic property ownership information is maintained regionally in the recorderís office, title registrarís office or land court. This information is publicly available at regional recorderís offices, title registrar, or land court. It must be searched by hand. The Dominican Republic does not yet maintain computerized records of registered title.
Are foreign persons taxed in the Dominican Republic?
Foreigners are only required to pay tax on income of Dominican origin and, after the third year of residence in the country, also on income of foreign source. Branches of foreign companies are given the same tax treatment as Dominican companies.
There are controls on how a parcel of real estate may be used; also building codes and subdivision regulations may apply. However, there is no uniform building code in the Dominican Republic.
The use or development may be regulated or limited according to its location, It is very important to examine environmental, urbanization, public embellishment or other municipal regulations
Flood Zone Information
There is no flood zone classification on the north coast of the Dominican Republic.
Legal Documents needed for Real Estate Transactions
You will need the following documents for any property sale, exchange or purchase. Most of these documents will be obtained and taken care of by your lawyer.
Sale, payment, exchange
- Sales/purchase agreement signed and legalized
- Copies of the identification documents of the buyer and seller.
- Copies of the identification documents of the buyer and seller.
- Copies of the representativeís identification card and phone number
- Property title certification
- Current payment receipts for taxes
- Original payment receipt for the property transfer tax
- Original payment receipt for taxes established by law number 80-99, and other legal seals and stamps (according to the number of properties being registered)
- Record of all submitted documents
How to found a Dominican Company and how long does it take
A company in the Dominican Republic must have a minimum number of seven shareholders, but shareholders participating to fulfill the statutory minimum have a symbolic participation of one share in the companyís capital. The incorporation process -including the drafting and execution of the articles of incorporation and other incorporation documents, the registration of the company name, the whole process takes between 3 to 4 weeks. There is also the possibility to purchase already existing companies which have been founded only for the purpose of holding Real Estate.
How can a foreign person obtain a Dominican residence card?
Foreigners may acquire the right to reside in the country through (i) obtaining a residence visa at the Dominican Consulates abroad or at the Ministry of Foreign Relations in the country, which takes between 10 to 12 weeks, and thereafter (ii) obtaining a provisional and then permanent residence card at the General Immigration Office, which takes approximately two months. Some people are being charged $2800 USD per person for a residence card. We can have this done for you for $1100 USD.
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