Dominican Republic Buying Guide

The following documents will be required by a Lawyer/Notary when purchasing property.

• Purchase Agreement

• Legal description of the property

• Purchase price

• Payment terms

• Default clause (subjects)

• Date of delivery of property

• Full names and address of buyer

• Spouse must also provide this information &  sign documents

• At least 2 pieces of Identification are required by each person

• Passport

• Dominican I.D. Card

• Driver's License

• Notary / Lawyer will verify that all required is completed, signed, initialed if necessary.

• That seller is obliged to Sign The Deed, upon receipt of final payment and handed to the buyer

Covered title risks include:

• Invalid documents executed under expired/non-   --existent power

• Liens and financial burdens charged to the ----previous property owner

• Non-registered property easements

• Hidden heirs of previous property owners

• Payment of legal expenses to defend a -- --guaranteed title

• Payment of valid claims up to the value of the guarantee

• Investigation of the title prior to issuing the title of guarantee

What does a title guaranty provide?

• Payment of legal expenses to defend a guaranteed title

• Payment of valid claims up to the value of the guaranty

• A Thorough investigation of the title prior to issuance of title guaranty Please contact us today for more information

In order to apply for the residency visa’s, you will be required to complete the following steps:

-Payment

-Bank statements for the last three months.

-Two frontal photos (2x2).

-ab Test (HIV, drug test) and a letter from a Doctor stating that you do not have communicable diseases. For those already in the D.R. we can help you find facilities that perform the medical tests and provide the medical certificate.

-Birth certificate (apostille or legalized)

-Certificate of good conduct from police (apostille or legalized)

-Copy of valid passport

-Provide the required documentation according to the visa category. (Work, retired, investment, married to a Dominican or a resident;  proof that you have been living in the country for long period).

 

Notary Process

You will be contacted by the Notary / Lawyer to attend at their office to sign the documents. The time frame is between 6 - 8 weeks for processing. The cost will vary, depending on the complexity of the Sales Agreement.

Have your financing in place prior to the appointment, before receiving Deed of Sale, Purchase Documents and Transfer of Property, ready for the final signing.

 

Title Insurance in the Dominican Republic

Follow these helpful guidelines when purchasing property in the Dominican Republic, whether it's a house, condominium, land or business, to ensure that the Deed to your property is securely yours.

• A Deed/Title is not necessarily proof of ownership, there may have been several owners before your purchase and that does not cancel out prior 'rights' or 'claims' others may have to this property.

• A Title Search is required to establish previous ownership, any prior claims or rights of another person/persons.  This is to be done before the closing date.

• A Title Guarantee is purchased for a one-time fee, which guards and protects you as long as you hold an interest in the property, that your property is free and clear of all encumbrances.  The title insurance is a policy that indemnifies the policyholder (buyer) against damage/loss arising from any conflict in the title to real property.

 

Residency

In the Dominican Republic, Foreign Nationals are classified as "Resident" or "Non-resident".

The Non-resident are those that visit the Dominican Republic for a limited time period.  For example, you've purchased a property for vacation purposes only. A Resident status will be needed for Foreign nationals who want to stay in the country for an extended period of time and/or live here permanently. You will be required to complete the following steps: -an application for a Residence Visa will be necessary and filed with the Ministry of Foreign Affairs -upon the granted Visa, an application for Provisional Residency must be made within 2 months -upon the Provisional Residency Visa becoming expired, the applicant may apply for Permanent status.

 

International Buyers Guide

There are no restrictions on foreigners purchasing property in the Dominican Republic.  The only requirement for ownership is for statistical records at the Title Registry Office. The process for international buyers is the same as a Dominican resident. We urge you, for your own peace of mind to be cautious and retain services of a reputable agent, lawyer and/or notary.

Mortgages are available in the Dominican Republic, your real estate agent or Branch Manager will assist you in the process.