The investments made total RD$994,574,711.95 across the 160 properties. 69% of the purchased properties are located in La Altagracia province, 24.7% in Samaná, and 6.9% in San Cristóbal.
SANTO DOMINGO.- A total of 187 foreigners acquired 160 properties in the Dominican Republic during the first six months of 2023, with Haiti, at 33 properties, being the country with the most investors (17.64%), followed by the United States, with 31 properties representing 16.57%.
The data was extracted from the audit carried out by the Vice Ministry of Management and Naturalization of the Interior and Police, headed by lawyer Juan Manuel Rosario; highlighting that 93 percent of foreigners are in transit or non-resident status.
According to a publication in Listín Diario, the buyers came from 40 countries, including Italy, with 24 items (12.83 percent); France, with 15 (8.02 percent); Canada, with 10 (5.34 percent); Venezuela, with 7 (3.74 percent); and Russia, with 7 (3.74 percent). The remaining 60 items (32 percent) were purchased from 33 other unspecified countries.
Ninety-three percent of the buyers (174) have a non-resident immigration status, meaning they are only in transit in the Dominican Republic. Meanwhile, only 7 percent (13) have residency and a registered address in the country.
The documents provided by foreigners to purchase the properties were passport, temporary and permanent residence card, driver's license from their country of origin, and foreign identity card or national identity card.
The investments made by these people amount to RD$994,574,711.95 in the 160 properties.
51.3 percent of the transactions were carried out in Dominican pesos, 45.6 percent in dollars and 3.1 percent in euros.
69 percent of the goods purchased by foreigners are located in the province of La Altagracia, in the eastern region of the country; 24.7 percent in the province of Samaná, in the north; and 6.9 percent in San Cristóbal, in the south.
Registration obligation
Rosario explained that through decree 21-98, foreigners are required to register with the Ministry of the Interior and Police the assets they acquire on Dominican soil.
He considered that there is a problem with that issue, because previously there was an obligation for every foreigner to have some kind of ties with the Dominican Republic, before buying, including having residency.
He explained that this changed in 1998, arguing that foreign investment was needed.
“We have many people who buy here who are illegal,” Rosario pointed out.
He also highlighted the data revealed by the audit, which shows that Haitian nationals, among all nationalities that have purchased real estate, have moved into first place in the last half of 2023.
He emphasized that the participation of Haitian foreigners who have been buying real estate is growing.
For her part, Laura Mariñez, head of the immigration affairs department, emphasized that 93 percent of these buyers simply arrived with their passports and purchased a property. “Once they acquire a property, it complicates things for Immigration officials to carry out a deportation, because they will claim ownership rights, that they have already acquired properties, but 93 percent do not have legal immigration status,” she stated.
Like Rosario, he also emphasized that Haitian nationals rank first among foreigners who have purchased real estate, surpassing Americans, who traditionally held the top position.
“In this first semester, the United States ranks second, and Haiti ranks first,” noted Mariñez, the head of the Migration area.
What the decree says
Decree 21-98 stipulates that the Title Registrars and the Directors of the Civil Registries and Mortgage Registries of the country must send to the Secretary of State (now Ministry) of Interior and Police, a copy of every act or document by means of which any foreign natural or legal person acquires one or more properties located in the Dominican Republic, regardless of whether they have residency or not.
The Executive Branch's act establishes that the sending of this documentation must be carried out within 15 days of having received the property transfer document.
“The Ministry of the Interior and Police will maintain a registry of all real estate properties located in the Dominican Republic that are acquired by foreigners, including those residing or domiciled in the country,” states Article 3 of Decree 21-98. The decree was issued on January 9, 1998, by then-President Leonel Fernández.
That decree repealed Decree No. 2543, dated March 22, 1945, concerning the acquisition of real estate by foreigners. This decree, in turn, repealed Decree No. 101, dated July 6, 1942, which required foreigners to obtain authorization from the Executive Branch to invest funds in urban and rural real estate.
Source: Listín Diario.
