Las Canas Beach Resort For Sale in Dominican Republic
| €185.000 (approx £128.471) | |||||||||||||
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Taxes and Legal Fees in the Dominican Republic The purchase would entail legal and notary fees of around 1.5% of the purchase price. The taxation system in Dominican Republic is one every favourable for investors and is thought of as being a “tax haven”. There are no purchase taxes or stamp duty payable nor is there any Income tax or Capital Gains Tax (CGT) payable on profits. There is an annual property tax payable which is minimal. For property valued under $165,000 US i.e. approx £90,000 there are no annual property taxes to pay. It is true to say the property taxation system in Dominican Republic does not work like clock work and it could be that as an individual you never receive a tax bill. Although we advise to budget for around 1% of the purchase price per annum to cover this taxation should it become payable. Although not confirmed we envisage Condo Costs i.e. annual service charge payable for the development to be in the region of $85 US per month for a studio apartment rising to $120 US for a 2 bedroom apartment. This is an estimate taking into account other local hotels and condo hotels. | |||||||||||||
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