The growing demand for real estate in the city of Santo Domingo, a question arises regarding the possibility of buying and financing real estate by citizens not resident in the country.

The answer is YES, the national financial system grants loans to foreign citizens not resident in the country. The Dominican Republic has an economy based on sectors such as tourism, foreign investment and construction, for this reason, the State provides conditions for the arrival process of tourists, the development of tourist real estate projects and investment and purchase of a citizen foreign non-resident, be easier.

A study by the World Bank and Doing Business in 2015, talks about the facilities and guarantees of investment in Santo Domingo. If you have the desire to buy and finance an apartment in Santo Domingo either as a second home or to diversify investments in commercial real estate, you can do so safely, in an agile manner and with due legal guarantees.

In general, the commercial banks of the national financial system have the same requirements for financing a nonresident foreign citizen: Required documents for foreigners not resident in the Dominican Republic to finance an apartment in Santo Domingo:

Clear copy of passport, residence card, social security and driver’s license.

Last income tax, certified by IRS.

Letter of authorization to request references of credit abroad.

Pay the cost of the revision of the International Bureau.

Open account in the currency of the disbursement in the name of the applicant or his legal representative for automated collection.

Foreign resident in Europe, in addition, reference letter and bank account statements abroad.

About purchases with or without financing for foreigners, click here:

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