How To Buy Caribbean Real Estate: Dominican Republic
Today we are exploring how to purchase real estate on the beautiful island of the Dominican Republic! If you ahve never visited you really are missing out, it is such a wonderful vacation destination with something for everyone.
In a continued effort to bring value to you, the potential home buyer in the Caribbean, we have secured a partnership with another real estate lawyer in the Dominican Republic to help you when it comes to purchasing real estate.
Lishali Baez is the leading attorney at Legal Bureau, with a decade of experience relocating expats in the Dominican Republic with nothing but the highest standards. If you want to invest in Dominican companies, incorporate new companies, invest in real estate, work in the Dominican Republic, start your retirement plan and/or start your residency process, she will personally commit to offer you the finest experience on your way.
Fun Fact: Lishali is actually an American citizen!
You can reach Lishali through her email at lbaez@lishalibaez.com or on Whatsapp at +1-809-860-1231.
Future buyers should run a property check, seller check, legal standing of the property and secure a good closing plan, some relevant elements to the transaction are the following:
– Is the property part of the patrimony of the seller or part of the patrimony of an entity to which the seller owns shares;
– Is the property clean of debts and/ or tax obligations;
– Is the company or entity selling the property being a part of a legal dispute that could affect the result of your transaction;
– Has the property been appraised;
– Are the sellers in the capacity to sell the property;
– Do you have the best closing deal available;
*This list is illustrative but not limiting, case by case we should figure what works best for you.
Residency in the Dominican Republic:
– With the correct scheme you could qualify for a visa under the investment category which leads to permanent residency status;
– Those who qualify under this program could receive a 50% tax break on the transfer of the title of this first property in the Dominican Republic.
– Those who qualify under this program are eligible to claim a tax break of 50% of the real estate taxes of said property
– Those who qualify under this program are eligible to claim a 50% on imports duties to the first container brought to the DR for their new home.
– Those who qualify under this program are eligible on tax exoneration of their income based on the residency program that he was accepted to.
If you have any questions about taxes, corporations, write-offs, etc..feel free to reach out to Lishali. Her law firm is always here to steer you in the right direction and help you make the best decision for your future.