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Nov 6, 2019 · The Real Estate Trust grants different advantages to the parties: Protection against possible execution of creditors or third parties not related to the Trust; Financing of up to 90% for construction; The Trust becomes a protector of the assets involved with a separate patrimony of the trustees and fiduciaries.
Real estate trust in the Dominican Republic. 27 augustus 2022. Professors Rosso and Uriarte define the trust contract as the legal business by virtue of which a person called trustee transfers in trust, to another person called trustee, one or more assets (which become part of the trust patrimony) so that upon expiration of a term or upon ...
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Jul 30, 2016 · The Law on Trust foresees the inability of creditors to seize the assets in Trust. Nevertheless, there are a series of exceptions whereby the Trust asset (s) may be subject to persecution. Legal entities incorporated for the sole purpose of acting as trustees must register before the Dominican Tax Authorities, which shall supervise the same.
- Main Sources of Law
- Sale and Purchase
- Real Estate Finance
- Planning and Zoning
- Investment Vehicles
- Commercial Leases
- Construction
- Tax
For the first 100 years or so from becoming independent in 1844, the Dominican Republic had a legal system based on French law, specifically on the Napoleonic Codes – civil, civil procedure, commercial, criminal and criminal procedure – under a constitution based on the US model, with three branches of government: a strong presidency, a legislature...
2.1 Categories of Property Rights Dominican real estate law recognises the following interests in real estate: • Absolute ownership; • Usufruct; • Easements; • Betterments; • Leases; • Condominium regimes; and • Privileges and mortgages. It does not recognise co-operative ownership arrangements or other occupancy interests. 2.2 Laws Applicable to T...
3.1 Financing Acquisitions of Commercial Real Estate In general, Dominican law does not distinguish between commercial and residential properties; the same rules apply for both. However, regarding ownership, properties held by commercial entities are taxed differently from those owned by individuals. Financing sources are mixed, depending on the ty...
4.1 Legislative and Governmental Controls Applicable to Strategic Planning and Zoning The main law governing zoning in the country is Law 975/44, dated 29 June 1944, regarding urbanisation and public adornment. Furthermore, Law 64-00, dated 25 July 2000, the General Environmental and Natural Resources Law, also sets forth a series of provisions reg...
5.1 Types of Entities Available to Investors to Hold Real Estate Assets The most common entity used by foreign investors is a local limited liability company (LLC). Some, preoccupied by the complexities of reporting a foreign entity to the tax authorities in their home jurisdiction, prefer to register their domestic entity in the Dominican Republic...
6.1 Types of Arrangements Allowing the Use of Real Estate for a Limited Period of Time Leases are the most common arrangements that Dominican law recognises for a person, company or other organisation to occupy and use real estate for a limited period of time without buying it outright. 6.2 Types of Commercial Leases Dominican law only considers le...
7.1 Common Structures Used to Price Construction Projects The most commonly used structures are: • the fixed price system, which gives the owner of the project a comprehensive idea of the final cost of the project, establishing a fixed fee for the construction process; and • the construction management system, in which the project owner pays the co...
8.1 VAT There is no VAT or equivalent tax liability applicable to the sale or purchase of real estate. 8.2 Mitigation of Tax Liability Other than the exemptions mentioned above and the option of purchasing the shares of the holding company, there is no way of avoiding the payment of the 3% title transfer tax. Large institutional holders are advised...
Oct 21, 2021 · Santo Domingo.– In the Dominican Republic there are more than RD$160 billion (US$3.02 billion) in assets managed through the trusts, according to Christian Molina, executive president of the Association of Dominican Trust Companies (Asofidom). These resources are distributed in more than 900 trusts nationwide.
Our expertise includes estate planning on real estate assets and large business operating in the Dominican Republic for clients looking to ensure certain level of control, protection, endurance, administration or transfer of their estate.
Dec 21, 2023 · Real Estate Laws and Regulations covering issues in Dominican Republic of Real Estate Law, Ownership, Real Estate Rights, System of Registration, Tax, COVID-19.
