This annual tax is 1% of the property's value above DOP $6,750,000. If the client obtains several properties, they will add their values together. If the total is above DOP 8,138,353.26, it will be tax-exempt. Depending on the project, this tax exemption will last 10 to 15 years.
The transfer tax is the legal process that allows you to put the property in your name after the purchase of the property. This amnesty represents 3% of the value of the property. For example, we put the following scenario: If you acquire a property for U.S. $200,000, you will save US 6,000 dollars.
Foreigners can also declare their real estate investment as an expense and benefit with a saving in their income tax return.
Individuals can, at the time of filing their taxes, add their real estate investment and obtain savings of up to 20% on the net taxable income.
DR also represents a great investment opportunity. According to World Bank, DR is currently the fastest growing economy in the Caribbean and Latin America. Between 2015 and 2019 the DR’s annual GDP growth rate averaged 6.1% and in 2020 the DR had the lowest contraction rate in the region with only -4%.
When you hear “Punta Cana” the first thing that comes into your mind is the image of a perfect beach with white sand, turquoise water and lots of palm trees. These are the beaches from Punta Cana and to prove that, each year at least one of them enters the exclusive listing of “Top 25 beaches in the world – Travelers’ Choice” from Tripadvisor.
Punta Cana, or “white palm point”, is one of the most popular all-inclusive resort destinations in the Dominican Republic. Dozen of flights available from many Canadian cities.
Dominican republic favorite country for investment, since non-residents and foreigners have access to local bank financing. Punta Cana is the investment destination par excellence. Last year it received 3.5 million tourists, making it the most popular tourist destination with the highest number of visitors.
For properties in certain value range, you would also qualify for the 10 year Property Tax: Exemption!
A program undertaken periodically to adjust the value of all properties in the municipality to 100% of the market value (what an owner should be able to sell the property for). The purpose is to fairly distribute the tax burden among all property owners.
The Dominican Republic is one of the fastest growing economies in the Caribbean and the most popular tourist destination in the Caribbean region. Its tropical climate, white-sand beaches, diverse mountainous landscape, and colonial history attracts visitors from around the world.
The Punta Cana area is especially attractive as investment in vacation rentals. An investment made in a property carefully chosen can offer up to 6-7% ROI.
With 35 km of continuous white sand, Punta Cana has no shortage of beautiful beaches. The beaches around Punta Cana are some of the best in the Caribbean and without a doubt the most spectacular beaches of the entire Dominican Republic.
Located on the second largest island in the insular Caribbean, the Dominican Republic has become the most coveted destination in the entire Caribbean because, in addition to its strategic location, its extensive biodiversity, its history, its culture, and its breathtaking natural beauty, this land is recognized by all for the quality of its people, for their kindness and hospitality have earned the reputation of being the best hosts in the world.
At Buy Puntacana.ca we place great value on “Teamwork“ and interdisciplinary collaboration as a path to achieve excellence.
We pride ourselves in providing expert advice, service, accountability and a professional commitment to guiding our clients every step of the way with all their Real Estate needs. By leveraging the most emerging technologies, marketing techniques and social media strategies while we embrace new lifestyle approaches to informing and connecting with Global communities.
Knowledge is the power that drives us.
