Punta Cana - Bavaro Real Estate, Vacation Rentals & Property Management
Retirement Law Overview :: Tax 171-07
Overview of Benefits:
- Exoneration of taxes of home and personal goods
- Partial Exoneration of taxes of vehicles
- Exemption of taxes on transfer real estate title (on the first property)
- Exemption of the 50% of mortgage registration taxes if the institution is regulated
- by the financial monetary law
- Exemption of 50% of the real estate property tax (when applicable)
- Exemption of 50% of Capital gains tax (see specifics)
- Exemptions for taxes levied on dividends and interest payments accured in the
- country or abroad
How to qualify: (Investment Residence Permit Program)
Retired – (Pension or other foreign Government source) – Must receive $1,500 monthly / dependants $250 per mo. ea.
Passive – (permanent generated or guaranteed income from abroad) – Must receive $2,000 monthly / dependants $250 per mo. ea.
There is no limit to age
For example, those considering purchasing retirement homes in VistaCana, it is important to note this expansive community already sold 1,500 units to a retirement fund in Washington DC. Who require many requirements. I.e. to build a commercial zone close to the project must be equipped with supermarkets, pharmacies, medical facilities, fire rescue units.
For the complete pdf legal document in English or Spanish, contact Maria Williams.