General Information on Dominican Republic
The national currency is the Dominican Peso, however US Dollars are widely accepted in tourist areas.
Buyers Guide
Foreign nationals have been purchasing property in the Dominican Republic for many years with relative ease.
As with many other countries, the contract of sale must be signed in front of a notary public. This outlines terms and conditions of the sale. A deposit is paid at this time, which is usually around 10% of the purchase price.
Once finance is arranged and the property has been thoroughly checked for debts and taxes, a certificate of title is then filed with the Title Registrar's Office.
We always recommend seeking independent legal advice when purchasing a property abroad.
Economy
In the last couple of decades, the Dominican Republic has undergone economic reform and is now classed as a lower middle-income developing country.
The Dominican Republic is heavily dependent on natural resources and government services, however the service industries have seen rapid growth in more recent years. |
New Developments
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