Off plan property investors in the Dominican Republic can look forward to a straightforward process with the minimum of fuss – there is an amount of red tape to get through, but appointing a local trusted lawyer to help in proceedings will help the process no end.

Property in the Dominican Republic can be obtained as either an individual or through a company set up in the country – both manners of purchase have their own benefits and are simple enough to go through with. After a property has been decided on, the buyer pays 10 percent of the agreed fee to the lawyer, who will place the funds in a bank account as a kind of trust fund – the lawyer then goes on to check all legalities concerning the property: rights of ownership, possible legal pitfalls and the like. Once this has been dealt with and there are no remaining concerns from either party, the contract can be signed and the purchase is completed in full, with the property deeds sent to the local Land Registry for the ownership to be officially signed over.

Taxes and charges are then paid, including any lawyer and notary fees, along with purchase tax of around three to five percent, and stamp duty.