FAQ - Frequently Asked Questions

 

Are there any other costs involved in purchasing real estate in the Dominican Republic then that of the price of the property itself? Yes. When you purchase property in the Dominican Republic you will have to contact a lawyer who can assist you in the legal process. This service normally costs 1 % of the purchase price. Besides that there is a transfer title tax to the government of the Dominican Republic. This tax is a one time tax that amounts to roughly 3 % of the purchase price. Ask you legal representation for detailed information. 

 

Are there any annual cost of owning property in the Dominican Republic? Yes. There is an annual property tax that must be paid to the government of the Dominican Republic. The tax is 1 % of the value of the property that exceeds DR Pesos 5,000,000. The cost of insuring your property normally is around ½ % of the purchase price. The last cost that normally comes with most properties that appeals to tourists is a maintenance fee that must be paid to the community you choose to purchase in. The maintenance fee is very different from community to community. Therefore ask for the specific community you are looking to purchase property in. Ask you legal representation for detailed information.