SANTO DOMINGO - Foreigners may only practice the profession of real estate agents in the country if they have at least three years of permanent residence in the Dominican Republic, in addition to possessing the residence card issued by the Central Electoral Board (JCE).
This is the proposal of the bill that would regulate real estate services and brokerage contracts, submitted last month to the National Congress, which also establishes that foreigners must have express permission to carry out any type of work in the national territory.
“"Foreigners of legal age, with permanent residence in the Dominican Republic, with no less than three years of permanent residence in the Dominican Republic and who hold the respective residence card issued by the Central Electoral Board, with express permission to carry out any type of work in the national territory," states Article 14 when referring to the requirements to obtain the real estate broker license.
Four deputies submitted the “bill regulating real estate services and brokerage contracts” in the Dominican Republic on February 18th.
In a letter addressed to the Speaker of the Chamber of Deputies, Alfredo Pacheco, the legislators requested the reintroduction of the bill, after having issued a favorable report on it last December. The letter is signed by Representatives Braulino Espinal, Edward Enrique Cruz Asunción, Indhira Shary De Jesús Morla, and Charles Noel Mariotti Paz.
The proposal states that in the case of Dominicans, those who have reached the age of majority and are in full enjoyment of civil and political rights, and who have a high school diploma, duly accredited by the Ministry of Education, must be accredited.
Both Dominicans and foreigners must submit a certificate of no criminal record, issued by the Attorney General's Office, indicating that during the five years prior to their application they have not been convicted of a crime or offense by an irrevocable sentence.
Likewise, you will have to present the certification from the General Directorate of Internal Taxes (DGII) stating that the applicants are up to date with all tax obligations, and present the training and quality certificate issued by the Ministry of Industry, Commerce and SMEs.
“Submit to the Ministry of Industry, Commerce and SMEs a sworn and duly legalized application before a notary public, for the applicant and the real estate company that will manage it, and fill out the form that the Ministry prepares for these purposes.”.
According to the project, if you are a shareholder, when applying for the license, you must submit a certified copy of the Commercial Registry where you appear on the list of shareholders of the real estate company.
Likewise, pay the fee set by the Ministry of Industry, Commerce and SMEs in the internal regulations for the license application, provide a civil liability insurance policy corresponding to a real estate broker according to the level of risk and coverage required and keep it valid for the amount determined by the Ministry of Industry, Commerce and SMEs and faithfully comply with the ethical standards dictated by the regulations of the law.
Article 13, relating to the requirements to be a real estate intermediary, will require that the natural or legal person have the respective training certificate and the additional requirements in accordance with the law, which accredits him as an authorized subject to act in the real estate market and which will be issued after compliance with the requirements established in this law.
