The CONFOTUR law or the law number 158-01 on the “promotion of the tourism development” is aiming at the real estate tourism projects in order to promote the tourism development in Dominican Republic. The estates covered by the CONFOTUR law are exempted from fiscal obligations which you should normally pay such as:
- Transfer tax on properties rights (3% of the property’s value).
- Property tax (IPI). This is equivalent to the annual tax of the sum exceeding 6 750 000 RD$. In other words, if you have many properties, they add up and only the added value is excluded.
As a buyer, you will be exempted to pay this 1% for the specific period of the approbation of the law within this project which is generally between 10 and 15 years.
We can confirm that since the implementation of this law, the tourism and investment sectors in Dominican Republic has considerably increased.
Contact us to know more about the granted benefits or to find out about our projects that benefit from the law CONFOTUR go under the heading “Property Development” on our website: Aurora Apart Hotel, Nicole Aparthotel, and Villas Infinity.