Process to buy an apartment in DR if you are not a Citizen?

2POSTS

5 years ago

Hello Guys

hope all of you are well

Please what is the process to buy an apartment in DR if you are not a Citizen?

Waiting forward to hear from you

Merci

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planner Dominican Republic Expert

17779POSTS

5 years ago

First the process is to open a thread on the subject please.

For everyone - going off topic on a thread is called hijacking and is frowned on by forum internet gods.聽馃槉

planner Dominican Republic Expert

17779POSTS

5 years ago

Dan I have requested this be set up as its own thread. Hang tight and we will answer you!

Diksha Moderator

4832POSTS

5 years ago

Hello Dancliff and planner,

Please note that a new thread has been created on the Dominican Republic forum with your posts.

You can now continue conversing on the topic of Dancliff's interest.

Best,

Diksha
Team 大咖福利影院

1 member reacted to this post

planner Dominican Republic Expert

17779POSTS

5 years ago

Thank you聽 Diksha!

Okay so lets talk about this.

Buying an apartment or a house here聽 is not much different聽 for聽 foreigners聽 then Dominican citizens.聽

There are things you need to be aware of that locals will automatically know.

FIrst:聽 you want a lawyer of your own. NOT one working both sides of any deal. You need to聽 have聽 the title searched and confirmed and you need a deslinde that is聽 filed.

Financing -聽 its hard to get as an expat. They are starting to聽 finance more in the banks but its still hit and miss.聽 Developers are聽 doing some financing as well.聽聽AND you will likely not love the rates charged here.

Corporation -聽 to qualify for investment for residencia purposes,聽 you need聽 to hold the real estate inside a corp.聽聽For estate and tax planning it is often useful as well. But, consult a professional about this.

1 member reacted to this post