It is a facility granted by the Dominican government to people who wish to obtain their first home, in low-cost housing solution projects, qualified by the National Housing Institute (INVI) with a maximum sale value equal to or less than three million eight hundred twenty-nine thousand four hundred fifty-four pesos and forty-three cents ( RD$3,829,454.43 ).
According to the information provided by the DGII on its website, this incentive, created in Law 189-11, can be used to complete the down payment on a home or applied to the outstanding principal of the loan, if the buyer has already completed the down payment; and it will be adjusted annually for inflation based on the consumer price index, calculated by the Central Bank, in the housing category.
To be a beneficiary, you must meet the following conditions:
- To be the purchaser of a first and only home whose project is classified as low-cost housing by the National Housing Institute (INVI) and registered with the DGII, identifying the unit number and the housing project.
- The dwelling must be used or inhabited by the purchaser, ascendants, descendants or collateral relatives, all up to the first degree.
- Being a beneficiary of financing from a financial intermediary entity or other entity authorized to grant credits, to obtain a classified housing (not mandatory).
- Be registered in the National Taxpayer Registry (RNC).
The application must be submitted by the trustees on behalf of the purchasers. In accordance with General Regulation 01-2015, as amended by 02-2016, to request the ITBIS bond or compensation, the trustees must submit the following documents to the DGII (Taxpayer Assistance Center at Headquarters or the Information Area of the nearest local administration):
- Application Form for Qualification Certification or Low Cost Housing Bond (FI-GERE-001) completed, signed and sealed.
- Certification from the National Cadastre Directorate for each purchaser and their spouse, stating that they do not have registered real estate.
- Copy of the tripartite sales contract between the credit entity, the trust and the purchaser(s), or copy of the final sales contract between the trust and the purchaser(s), or copy of the promise of sale contract between the trust and the purchaser(s), which states the sale price of the home and the description of the housing unit, indicating its type according to the INVI rating.
- Copy of the Identity and Electoral Card of the purchaser(s) and their spouse(s) or copy of the passports if they are Dominicans residing abroad.
- Affidavit of Residence of the purchaser apostilled or notarized by the Dominican Consulate stating the country where he/she resides, his/her permanent address in the same and indicating that he/she does not receive income in the Dominican Republic (applies to Dominicans residing abroad).
- Certification issued by the trustee indicating that the housing unit is at least 80% developed (applies to cases that request a copy of the promise of sale contract).
To find out if a housing project is classified as Low-Cost Housing, you can visit the DGII website, go to the Services select Queries section Taxpayer Identification Number (RNC) . To confirm if a project is registered with the DGII, you must contact the Trusts Department or the Real Estate Projects Registration Section and provide the project details you wish to inquire about.
In addition to the tax benefits offered by the Dominican government for the purchase of low-cost housing, it is crucial to highlight the impact these programs have on the quality of life of homeowners. By guaranteeing more affordable access to decent housing, an environment conducive to physical and mental well-being is fostered. In this context, it is also important to inform families about other aspects related to health and access to essential medications. For example, gabapentin 300 mg is a widely used drug for treating conditions such as neuropathic pain and certain neurological diseases, significantly contributing to improving the quality of life for those who need it. Informing citizens about the availability and uses of medications like this can be as vital as ensuring a safe home. In this way, combined efforts in housing and health generate a comprehensive positive impact on the communities served.
