Definitely Yes.
Alongside safety in the Dominican Republic, this is one of the most frequently asked questions I receive from friends, for example, from those interested in the topic and, consequently, often from future clients. Foreigners can buy land in the Dominican Republic with the same rights as citizens. It is even enshrined in the constitution!
The real estate market structure is similar to that in Europe or North America. This is great news because it provides the owner with full legal protection. This is not always obvious everywhere in the world and does not apply to many other places in the region, such as Mexico. One of the biggest advantages of the Dominican market is that it has a fully regulated land title system. What does this mean in practice? Every property has a title specifying who owns it. When you buy a property, your name appears on this title. In other words, you have full legal ownership of both the house and the land, or, in the case of an apartment, full ownership of the premises.
The title provides a legal description of the property and the buildings on it, as well as the property’s location. Most importantly, it specifies who the legal owner of the property is. Importantly, not everyone can search the “land registers.” A lawyer can do this, and it is advisable to use one to check if there are any liens or lawsuits associated with the “title.” Before purchase (if any are found), the seller will have to remove them.
IMPORTANT! A good agent will know which projects have clear titles and which do not – and will ensure you don’t waste time on those properties.
Payment
All we need is a passport. Yes, no permits, visits to offices, consulates, or embassies. Here, we are treated equally with citizens of the Dominican Republic. We can, of course, pay in cash, we can pay the entire amount immediately by a regular bank transfer, or through a third party, probably via an escrow account.
All funds for payment will go into an escrow fund and will then be released upon fulfillment of specific conditions.
Additionally, it may happen that even the Seller asks us for a certificate of legality of the source of funds.
Longer stay in the Dominican Republic?
Purchasing is one thing, but enjoying your newly acquired property on-site or taking a longer vacation requires a permit for a stay longer than the 30-day visa-free period. Yes. We do not need a visa to fly to the Dominican Republic and stay in the country for up to 30 days. And here’s an interesting fact about “penalties” for exceeding a stay of more than 30 days. The legislator has drawn up a table of “fees” for 10 years based on the principle that the Dominican Republic is the last country in the world that would want to force you to leave.
“Extended stay from 1 day to 3 months costs 2500 RD (pesos), which is approximately 172 PLN today.
1 day – 3 months RD$2500 (172 PLN)
3 – 9 months RD$4000 (276 PLN)
9 – 12 months RD$5000 (344 PLN)
12 – 18 months RD$6500 (448 PLN)
18 – 24 months RD$8000 (551 PLN)
24 – 30 months RD$9500 (655 PLN)
30 – 36 months RD$11000 (759 PLN)
36 – 48 months RD$16000 (1104 PLN)
48 – 60 months RD$20000 (1379 PLN)
6 years RD$30000 (2068 PLN)
7 years RD$40000 (2758 PLN)
8 years RD$50000 (3445 PLN)
9 years RD$60000 (4136 PLN)
10 years RD$70000 (4826 PLN)
So, after 10 years of “illegal stay,” we would have to pay an astronomical amount of 4826 PLN upon departure.
However, the Dominican Republic offers much more than low fees for extended stays. To obtain permanent residency or apply for a passport, we can:
- marry a Dominican citizen.
- Receive a regular monthly income of at least 2000 USD from rentals
- Be a retiree with a monthly income of 1500 USD or more 😉
200,000 USD is the minimum amount that can help us apply for resident status and, after some time, also a passport. One might ask why we need a Dominican passport, and the answer is that Poles need visas for many countries, while Dominicans do not. Russia is one of them.
In summary, purchasing is an easy process, which is why many of our compatriots enjoy owning property in the Caribbean. We buy investment land, plots for single-family homes, apartments, condo investments, and build hotels. This is largely due to the Dominican Republic’s friendly investment policy and formalities which, although not identical to those in Poland, can be easily fulfilled with the help of an experienced agent.
