advantage of registering home in my company?

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carib

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Jul 16, 2002
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Sa, SRL

Do not do it. This is a scam now. It costs us 850 dollars per year to "maintain" and every couple years there are additional charges for the chamber of commerece. ALSO you lose your tax exemption for real estate tax!!!
$$$$$$$$$$$$$$$$$$$$ be careful around DR lawyers/realtors
carib
 

Gringo

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Jan 1, 2002
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Do not do it. This is a scam now. It costs us 850 dollars per year to "maintain" and every couple years there are additional charges for the chamber of commerece. ALSO you lose your tax exemption for real estate tax!!!
$$$$$$$$$$$$$$$$$$$$ be careful around DR lawyers/realtors
carib

Interesting, can anybody else elaborate on this a bit?
 

Bob K

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Aug 16, 2004
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First off I am not sure it costs $850 a year.
There used to be a tax advantage (paid no property tax) but that is now gone and you also lose the approx $150,000 assesed value break. HOWEVER your corporation protects your house in case of a law suit (like you hit one of those moto drivers or worse) as you do not own it,but rather your corp does.
Secondly it precludes your estate (corp and its holdings) from going through probate if god forbid you depart the real world and allows the property to be transfered much quicker and with less taxes to your heirs.
We carry our property in a corp for those reasons.

Bob K
 
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abe

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Jan 2, 2002
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For condos...are corps recommended?

Forgive my ignorance, but I have always thought that condos in the DR were owned through shares in a corporation that held title.

Is this in fact, just ONE way to hold title in a condo?

Thanks.
 

Bob K

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Aug 16, 2004
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You can own your condo in your name or in your corporation. Either way gives YOU the title to the condo.

Bob K
 
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