where is cheapest land in DR

[JDJones]

Originally Posted by mezclado

I don't understand why do you have to form a land corporation, what's the advantage ?

I mean do i need to do that first to own a house or a lot ??

You DO NOT have to form a land corporation.

Many people do it as a form of protection against frivolous lawsuits.

[Arrica]

I am seriously confused...

What is the deal and advantage of the land corporation vis-a-vis just bying property right and out... any tax advantages? - any limitations on bying and what are the benefits of one construction from the other?

[AlaninDR]

The following is from Guzman Ariza, Guzman Ariza Law Firm in the Dominican Republic

Property Taxes
Properties held in the name of an individual are subject to an annual property tax ("IPI") of 1% of
government-appraised value in excess of RD$5,000,000 pesos except for unbuilt lots or farms
outside city limits and properties whose owner is 65 years old or older, who has registered it in his
or her name for more than 15 years and has no other property.
If the property is held by a corporation, no property tax is due. Instead, the corporation must pay a
1% tax on corporate assets. However, any income tax paid by the corporation will constitute a credit
toward the tax on assets, so that if corporate income taxes paid are equal to or higher than the taxes
on assets due, the corporation will have no obligation to pay taxes on its assets.

[billyidol]

Originally Posted by WillSDQ

Unfortunately, it is not really the region that drives the prices in the DR. It is largely figured on who you are. If you are a foreigner, the price for a lot of land will be as much a three times higher than if you were a Dominicano. Sometimes, even more.

And remember this, for a foreigner to purchase land in the DR you will need to form a "land corporation". You will need a lawyer for this. When I did this three years ago, it cost me $3000.00 USD to set up the corp.

IMO, the best pieces of land in the DR are learned about by word of mouth. I hear about lots for sale in the campo form my friends there. If you do not have anyone you are close with there, then it will be a hard road to travel to find a truly nice property at a 'good" price. You might be forced to look with the developers who strictly market their properties to persons outside of the DR. Good luck in your search!

what a load of crap!!!!!

[MOC1]

I own land in the DR. I did not have to form a corporation. Word of mouth is essential as is a reliable lawyer. Check everything out over a period of time, get to know the neighbors and determine if they are willing to put up with gringos. We are not welcome or are looked upon as easy marks in many areas. Anyone who has spent any time in the DR can relate to this.

[mariaobetsanov]

I am in Santiago, real close to hospital shopping main road 11 kt. from airport next door to university which is the worse nusiance of all the noise level on holidays can be heard all over town . When it rains the black water human waste hits the road , this is in the whole city the manholes come out and your car can be botton out., the river downstream is totally contaminated the smell . the interstructure does not exist even when dealing with simple things the health eparment is a building ... have been sick from eating is McDonold, Buenos Aire Querido, burger King. Food poisonning is the morn, health code enforcement.. Have not eaten our unless is Pizza Hut.

[La Mariposa]

Originally Posted by mariaobetsanov

I am in Santiago, real close to hospital shopping main road 11 kt. from airport next door to university which is the worse nusiance of all the noise level on holidays can be heard all over town . When it rains the black water human waste hits the road , this is in the whole city the manholes come out and your car can be botton out., the river downstream is totally contaminated the smell . the interstructure does not exist even when dealing with simple things the health eparment is a building ... have been sick from eating is McDonold, Buenos Aire Querido, burger King. Food poisonning is the morn, health code enforcement.. Have not eaten our unless is Pizza Hut.

What does your post have to do with the cheapest land in the D.R. ??