Waste-to-energy plant that will produce electricity in Samana Former Major League Baseball pitcher Mariano Rivera will invest in a waste-to-energy plant that will make waste into electricity in Samana a tourist hotspot in the Dominican Republic that has captivated international figures. The Panamanian, a member of the Hall of Fame, showed his charm in Samaná: […]
The Hostos Project the submarine cable connecting DR and Puerto Rico’s power systems Santo Domingo – Caribbean Transmission, promoter of the Hostos Project, has welcomed President Luis Abinader’s recent endorsement of the electrical interconnection between the Dominican Republic and Puerto Rico. But what is the Hostos Project, and how will it benefit the Dominican Republic? The Hostos […]
Dominican Republic’s Residential Property Market Report 2024 Residential property prices in the Dominican Republic continue to increase, supported by strong demand from both local buyers and international investors. In May 2024, the average price of apartments rose by 7% to DOP118,304 (US$1,980) per square meter (sqm) as compared to the same period last year, according to figures […]
Tourism invests RD$133 Million in Las Terrenas development Samaná.- The Minister of Tourism, David Collado, recently inaugurated three major projects in Las Terrenas, Samaná, and launched the construction of a new initiative, totaling over RD$133 million in investments. The completed projects include: Road infrastructure construction in La Granja and Cosón areas, with an investment of RD$24,280,237.23. […]
Blu Terrenas Las Terrenas Samana Dominican Republic Complies with Legal Requirements The project executives reported that the construction of the project has not violated Law 64-00 on the Environment and Natural Resources of the DR. The company executives indicated that, since the conception of the project, they have carried out the relevant procedures for the management of […]
Samana Bayport Cruise Ship passenger Terminal Dominican Republic With the presence of President Luis Abinader , the construction of the cruise port and tourist terminal began , with an investment of US$22 million, from the Temarsan Consortium, with Dominican capital. The terminal is expected to begin operating in 18 months, and plans to receive more than 500 thousand […]
Dominican Republic Tourism Report and Strategy 2023 David Collado Minister of Tourism: “We have to bet on diversification: cultural, luxury, sports tourism…” Between investments and new projects, the tourism sector is experiencing exciting growth World Tourism Day finds the Dominican tourism minister in notable good humor. His data allows him to do so: with the last quarter of […]
Who Pays Property Taxes in the Dominican Republic Taxes and Expenses on Property Transfers Taxes must be paid before filing the purchase at the Title Registry Office. Taxes and expenses on the conveyance of real estate are approximately 3.1% of the government-appraised value of the property, as follows: • 3% Transfer Tax (Law # 288-04) […]
What you should know about Import Duty Taxes when moving to the Dominican Republic Import Duty Taxes in the Dominican Republic varies from 0% to over 40%, depending on the type of goods imported. The rate is determined by the country of origin, product type, and the quantity imported. Additional taxes and fees may apply, […]
Inheritance for Expats in the Dominican Republic If you are a foreigner planning to buy property in the Dominican Republic and have children, you must understand Dominican law regarding inheritance. As with any other country, estate planning and how you want to distribute your assets in the event of your death are important and will […]