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Insurance is available in the Dominican Republic for approximately 0.8% of your purchase price. Policies generally include coverage for fires, thunder and lightning, earthquakes, hurricanes, floods, vandalism, smoke, liability, etc. Insurance is not mandatory in the Dominican Republic, but it is certainly recommended to protect your investment. Our bi-lingual staff will be happy to help you find an insurance company and a policy that meets all of your needs. We will assist you with all of the required documentation and paperwork to ensure that insuring your condo is a smooth and simple process. Blue Caribbean Properties is here to assist you every step of the way.
There are no restrictions on foreigners buying real estate property in the Dominican Republic. However, before purchasing a property it is recommended that you contact a local attorney. Dominican Republic real estate laws and regulations make it preferable to conduct a due diligence and review process through independent counsel to verify legal and tax status before any formal decisions or payments are made. The attorney will also assist with reviewing the sales contract and making any necessary negotiations. There are several real estate lawyers that we work with on a regular basis and we highly recommend their services. Please contact us for a referral and additional information.
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