There are no restrictions on foreign Individuals or entities owning or leasing real estate in the Dominican Republic. The process for purchasing or leasing real estate for foreigners is exactly the same as for Dominicans
You mention foreign entities. Would that include a LLC registered in the US?
Can someone please explain the need for a Dominican co-signer? I understand what it means to co-sign for someone in the US but not here. I know people that co-sign for others and they have no job, no house they own, no car and no savings account.
Can a Non Resident Purchase Property in DR?
Please Advise.
Do yourself a favor.....Don't do that...way too many problems here.
We did it with no problems, twice. A good attorney is required.
The problems begin just after you purchase the property with the good attorney.
As in anythinng, due diligence is require, especially when you are buying property here.
All real estate has risks no matter where you buy in the world....just happens we are talking about Dominican Republic here.
The core problem here is with these apartment buildings-the condominium law of 1958 and its interpretation by the governing body Tierra Tribunales......
Yes you can - we are going thorough this now - I believe the glitch is on financing (if you need to) - if you are paying all cash it is preferred - or current owner can finance to you like a bank would over a period of time