PURCHASING REAL ESTATE

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potus

Guest
Good day, I have decided to buy Real Estate on the Island.
I do not know yet if it will be a House or Apartment. Now, I am not sure I want to own a home under my own name........I conduct a lot of business internationally and have been divorced twice......I just wish to avoid any liabilities.
My questions are: Is it possible for a foreign (Panama) Company to purchase Real Estate in this Country?
What is the tax situation.....? Is there any advantage to own a home under a company name?

Thank you for your advise in advance.
 
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bob saunders

Guest
Good day, I have decided to buy Real Estate on the Island.
I do not know yet if it will be a House or Apartment. Now, I am not sure I want to own a home under my own name........I conduct a lot of business internationally and have been divorced twice......I just wish to avoid any liabilities.
My questions are: Is it possible for a foreign (Panama) Company to purchase Real Estate in this Country?
What is the tax situation.....? Is there any advantage to own a home under a company name?

Thank you for your advise in advance.

https://www.drlawyer.com/buying-real-estate-in-the-dominican-republic/
 
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LTSteve

Guest
Good day, I have decided to buy Real Estate on the Island.
I do not know yet if it will be a House or Apartment. Now, I am not sure I want to own a home under my own name........I conduct a lot of business internationally and have been divorced twice......I just wish to avoid any liabilities.
My questions are: Is it possible for a foreign (Panama) Company to purchase Real Estate in this Country?
What is the tax situation.....? Is there any advantage to own a home under a company name?

Thank you for your advise in advance.

HIRE an ATTORNEY! We all play one on DR1 but I wouldn't hire me for legal advice. When purchasing a home keep in mind that security is one of the top priorities. If you are out of the country for extended periods of time you might want to consider buying a condo in a gated community where there is security and your home will have eyes on it and neighbors. A free standing home is great but it comes with all kinds of security issues and if you are gone a lot you will have problems. That is almost guaranteed in the DR. As a gringo you are an obvious target. Buyer beware!!!!!!!!!
 
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jimmythegreek

Guest
Good day, I have decided to buy Real Estate on the Island.
I do not know yet if it will be a House or Apartment. Now, I am not sure I want to own a home under my own name........I conduct a lot of business internationally and have been divorced twice......I just wish to avoid any liabilities.
My questions are: Is it possible for a foreign (Panama) Company to purchase Real Estate in this Country?
What is the tax situation.....? Is there any advantage to own a home under a company name?

Thank you for your advise in advance.

Please....save yourself the hassle...and don't do that unless only you can get land with a home. Stay far away from apartments-condos, etc. huge problems there.

A Panama Corporation or Foundation won't change anything as the country made them into the same as DR corps. by requiring an RNC number 10 years ago.

You might as well just form a new Dominican Corp. to buy the real estate. BTW-It's best to have your property in a Corp. so if you get in any disputes in the courts they can not lien your property with a Hipoteca due to honorarios from a sentence.
 
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