RealtorDR is pleased to announce the upcoming construction of a Modern Seaside community by Sosua Ocean Village. Laguna City will consist of 4 story condominiums of studio and 1 bedroom condos surrounding a gorgeous community area inspired by Central Park. Reserve your unit today for only $5000 down.
Sosua Ocean Village rents well all year for both tourists/visitors and locals because it's a well organized community with an array of on-site amenities including the largest Infiniti pool in the Dominican Republic.
Two separate water parks and several beachfront attractions like indoor and outdoor gyms, Olympic swimming pool, playgrounds, bars, restaurants, make this community a place everyone wants to visit.
Qualifies for CONFOTUR: 15 years exempt from: tax of income derived from the property, title transfer tax (3%,) and annual 1% property tax.
Click here to read the buyer’s guide.
One of the main attributes of Laguna City is that it has CONFOTUR-certified building plans.
What does this mean?
The Council of Touristic promotion (CONFOTUR or Conseio de Fomento Turístico) applies the Tourism Incentive Law 158-01 to encourage development in tourist locations and other areas with great potential.
CONFOTUR has the faculty of classifying tourism projects or its activities that will give benefits to projects contemplated under this law. And in this case it translates to tax exemptions on transfer taxes, property taxes, and income tax on rental income.
CONFOTUR benefits are set for the next 15 years for the first owner of the property. To top it off, foreign nationals with this certification can apply for a residency visa and residency under any category (no matter the property size) whereas before, foreigners could only apply for residency after making an investment of at least $200,000 USD in real estate. So, you can rest assured the Laguna City project is as win-win as it gets.