- Properties for sale
- Direct Villa Search
- Land Special
- Listing status
Closing fees Dominican Republic
An overview from Real Estate Taxes and Expenses on Transfers from property in the Dominican Republic.
Notary and taxes at closing:
- 3,1% of the purchase price of the property (as mentioned the sales contract) or the price resulting from the valuation carried out by the DGII, whichever one is higher.
- If the property is purchased by the purchase of company shares, then there is a 1% tax.
- Tax must be paid within six (6) months of signing the sales contract.
- These taxes need to be paid by the buyer
- 1% of the purchase price
- Taxes and fees will vary depending on values. It is safe to assume 5% of the purchase price for taxes, fees and al legal documentation.
Yearly real estate taxes:
- If the property is owned by a company 1% yearly real estate taxes are 1% over the appraised tax value.
- If the property is on a private name the yearly taxes are 1% over the appraised vanlue above the 5 milion pesos (around 150.000 usd). So when you have an appraised property from 400.000 usd the taxes you pay is 400.000 - 150.000 = 250.000 usd. So you pay 1% over the 250.000 usd. So 2.500 usd a year.
- In general you can say around 50% from the sales price.
- Establish a company is around 1500-2000 usd at a lawyer and protects you for liability.