FAQs
Q: ARE THERE ANY CHARGES OR HIDDEN FEES FOR USING THIS SITE?
Q: ARE EACH OF THESE PROPERTIES FULLY CONSTRUCTED / DEVELOPED?
Q: WHO IS STEWART TITLE?
Q: WHERE IS THE DOMINICAN REPUBLIC LOCATED?
Q: WHAT DO YOU RECOMMEND THAT I DO WHEN I WANT INVEST IN A VACATION HOME?
Q: HOW LARGE IS THE POPULATION OF THE DOMINICAN REPUBLIC?
Q: HOW ADVANCED IS THE TRANSPORTATION SYSTEM? IS IT SAFE?
Q: WHAT TYPE OF ECONOMY / GOVERNMENT IS FOUND IN THE DR?
Q: DOES THE DOMINCAN GOVERNMENT MAKE IT DIFFICULT FOR FOREIGNERS TO ACQUIRE REAL PROPERTY?
Q: WHAT IS THE LOCAL CURRENCY?
Q: ARE THE CIGARS IN THE DOMINICAN REPUBLIC REALLY BETTER THAN CUBAN CIGARS?
Q: WHY ARE THERE SO MANY “SPECTACULAR” PROJECTS UNDER WAY RIGHT NOW?
Q: ARE THERE ANY CHARGES OR HIDDEN FEES FOR USING THIS SITE?
A:
No there are not. This is an absolutely complimentary site. It is a service that we have decided to
provide because there exists a demand.
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Q: ARE
EACH OF THESE PROPERTIES FULLY CONSTRUCTED / DEVELOPED?
A:
No. Casa de Campo and Guavaberry are developed with actual residents and visitors. CapCana has a lot of finished construction and much of the infrastucture in place. CapCana will begin phase 2 in January 2006. The first Jack Niklaus course opens in December 2005. Roco Ki and Atlantica are still in the early stages of development, but both have a solid business and development plan
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Q: WHO IS STEWART
TITLE?
A: Stewart title is one of the largest and most respected title and escrow companies in the world. They are based in Houston, Texas and have over 5000 offices world wide, in over a dozen countries (USA, Mexico, Dominican Republic, Austrailia, Spain, United Kingdom , Korea, Poland Turkey, others). Stewart Title has been publicly traded on the NYSE for over 10 years.
Stewart Title offers:
- Title guaranty
- Recorded documentation search
- Escrow
- Document custody
- Closing service
- Administrative service for projects
- Credit report
Basically they protect you, the foreign investor. They are a US based firm that is here to make acquiring property easier and safer for you.
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Q: WHERE IS THE DOMINICAN REPUBLIC LOCATED?
A: The Dominican Republic is located in the Caribbean Sea, close to Puerto Rico and all the Caribbean islands.
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Q: WHAT DO YOU RECOMMEND THAT I DO WHEN I WANT INVEST IN A VACATION HOME?
A: The best thing to do is get someone to recommend an attorney that they have used. The following list may seem a bit complicated, but the attorney can take care of almost anything. Stewart Title recommends:
- Research the title certificate
- Check the legal status of the company
- Find out where to go for all required procedures
- Hire a lawyer
- Research Zoning Laws
- Ask about other related payments, such as maintenance fees, cable, etc.
- Inspect the property or the plans if its not yet built
- Submit your documents on time
- Double check the sale/purchase contract
- Register you purchase quickly
Q: HOW LARGE IS THE POPULATION OF THE DOMINICAN REPUBLIC?
A: 8.8 million persons (2004), with the majority between ages 15 and 64
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Q: HOW ADVANCED IS THE TRANSPORTATION SYSTEM? IS IT SAFE?
A: There are seven major airports, including Punta Cana, La Romana, Puerto Plata and Santo Domingo. There is an excellent highway system which goes through the entire country. It is a very safe country with a lively culture. Rememebr, the locals survive off of tourism
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Q: WHAT TYPE OF ECONOMY / GOVERNMENT IS FOUND IN THE DR?
A: There are four main sectors that mobilize the Dominican economy: tourism, free trade parks, mining and agriculture. Tourism is the fastest growing sector. The agriculture is largely based on sugar, tobacco and coffee.
The governemt is an elected democratic republic, similar to that of the United States, but not as advanced or efficient.
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Q: DOES THE DOMINCAN GOVERNMENT MAKE IT DIFFICULT FOR FOREIGNERS TO ACQUIRE REAL PROPERTY?
A: No. The government actually encourages foreign investment and has implemented very simple rules for acquiring property and very lucrative tax benefits. Simply speaking, all you need is a good attorney to take care of the paper work, and you'll be on your way.
I could get into all the requirements needed to purchase a property, but really you are better of speaking with an attorney and they can explain it better than I could. I just purchased a fabulous property in CapCana and I signed a few papers for an attorney that I trust, and when I returned from a 2 week business trip, everything was done. I paid approx. $1,500 for a legal company and for the entire purchase and closing process.
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Q: WHAT IS THE LOCAL CURRENCY?
A: The local currency is PESOS, but dollars are widely accepted. Euros are accepted in most resorts. The local exchange has been stable at approx. RD$29.00 to US$1.00 (twenty nine pesos to every one US dollar)
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Q: ARE THE CIGARS IN THE DOMINICAN REPUBLIC REALLY BETTER THAN CUBAN CIGARS?
A: In my opinion, they are both great. But, there is a simple fact that leads one to believe that DR cigars are taking the lead and that is because the soil here is cultivated and then allowed to rest and regain its minerals. Cuban soil is constantly cultivated to meet worldwide demand and is not given enough time to replenish itself.
A good cigar here is an ARTURO FUENTE GRAN RESERVA ($8) or the top of the line OPUS X ($50).
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Q: WHY ARE THERE SO MANY “SPECTACULAR” PROJECTS UNDER WAY RIGHT NOW?
A: Simple, the DR is close enough to the United States os that you can “get away,” but not have to go to far. Also, the Caribbean is pure magic. Also, don't underestimate the vision of people like Jack Nicklaus, Pete Dye, Arnold Plamer, Nick Faldo. These are huge names with huge reputations. They would not all be here if it wasn't going to be a success.
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