The Dominican Republic is a country that offers many reasons to invest. It is rapidly becoming the most traveled to destination in the Caribbean. The country’s growing economy is supported by an ongoing process of modernization and aggressive efforts to promote international trade. It has a democratically elected government with strong international ties to the US and Europe and enjoys an environment of political stability. They are investing heavily in key infrastructure such as electrical grids, roadways, airports and more. Free zones and tourism are currently two of the most promising sectors for foreign investors
Reasons to Invest in Dominican Republic
The reasons to invest in the Dominican Republic are varied and there is something for everyone. There is a wide variety of things to do and a wide variety of lifestyles from which to chose. There are miles and miles of pristine beaches and mountains that reach over 10,000 feet high. There are private villas, gated communities, and cosmopolitan cities for shopping and entertainment. Many people say that the Dominican Republic has it all. Below are specific reasons to invest in Dominican Republic investments.
Dominican Republic has an Ideal Location
This Dominican Republic is a large Caribbean island and a popular tropical destination in the Atlantic Ocean that is accessed easily from most countries around the world. It has over 900 miles of ocean frontage with 300 miles of this frontage being beautiful sandy beaches. It has multiple climate zones and various lifestyles. The mountain range is the highest in the Caribbean and reaches over 10,000 feet. Depending on the route taken, driving time from one tip of the island to the other is over 15 hours.
Dominican Republic has Great Year-Round Weather
The climate is temperate and tropical without much variation throughout the year. The trade winds add to the year-round comfortable living and provide great weather for golf, water-sports, and the equestrian lifestyle. Hurricane threats are no worse than the eastern portions of the United States. The north coast of the Dominican Republic seldom has any hurricanes which makes it a safe place to both build and reside.
Dominican Republic has Great Accessibility
There are multiple daily flights into modern international airports strategically placed around the Dominican Republic. These flights include regularly scheduled flights on major air carriers and international charter flights that carry millions of tourists to popular vacation spots around the country. For reference, the DR is 3 hours from New York and less than 1.5 hours from Miami. There is also non-stop service from Canada and Europe. Most resort areas in the Dominican Republic are less than 30 minutes drive from the airport.
Dominican Republic has a Gracious Local Culture
The Dominican Republic is a charming Latin-based culture rich in heritage. It offers a welcoming and friendly environment for travelers from around the world. The local people are warm and gracious and very service-oriented. True, they can be more aggressive when living in crowded metropolitan areas. However, when living in local, family-oriented communities, or when staffing resort or gated communities, they are truly enjoyable. You soon recognize they always have smiles on their faces.
Dominican Republic has Investment Incentives
Major corporations and investors all enjoy various tax incentives; free zone for corporations, tourism zones for tax benefits, and even an attractive retirees law for individuals seeking a place in the sun to retire. There is equal treatment for both local and foreign investors. There are minimal investment restrictions and there is free access to foreign exchange through local banks. Financing up to 90% Loan-To-Value is available from both US and Dominican banks.
DR has Lower Building and Operating Costs
Market comparisons around other parts of the Caribbean will quickly show that both building costs and operating costs are lower in the Dominican Republic. Building costs are lower because many materials are manufactured in the Dominican Republic. Moreover, due to its modern shipping ports and close proximity to the United States, imported goods and materials have competitive pricing. Low labor costs also contribute to lower building costs. There is a very talented and qualified labor pool in the Dominican Republic which also causes lower operating costs.
Dominican Republic Has Rental Income Potential
Vacation rentals and full-time rentals are increasing year to year and this may offer opportunities for diversifying investments. Rental income can be used to offset operating costs and the timing may now be right for positive cash flows and increases in property values. Because the Dominican Republic is such a large country with hundreds of miles of pristine beaches, land costs are lower in comparisons to other islands that have limited land supply. Market Evaluations and Cash Flow Analysis’ are available upon request.
Real Estate Investment Pluses in Dominican Republic
The process of buying real estate in the Dominican Republic is fairly simple. Once the price and conditions of a real estate transaction are established, a Contract of Sale is prepared either by a licensed attorney or title company. After the earnest money deposit has been made (normally 10% of the purchase price) the Contract of Sale is submitted to the Dominican Internal Revenue Office for assessment and payment of transfer taxes. The assessed value of the property is often lower than the contract price, and in all cases, the transfer taxes are paid by the Seller. Click Here to READ MORE.
Dominican republic real estate
Dominican Republic is an Ideal Location to Invest.
The Dominican Republic is an ideal location for a second home or vacation rental.