How does Law 158-01 on Tourism Incentives benefit me?

With the aim of promoting tourism development, the main source of foreign exchange for the Dominican economy, Law 158-01 on Tourism Incentives was passed on October 9, 2001, and later amended by Law No. 184-02 of November 23, 2002, and its supplementary regulations.

This legislation offers significant incentives and benefits not only to companies and individuals who, acting as promoters or developers, invest capital in tourism projects, but also to those who invest in these developments.

When purchasing a house or apartment in a tourism project, an individual can deduct the amount of their investment from their taxable income and apply up to 20% of this amount to amortization each year, for a period of up to five years. Similarly, properties acquired under this law and its amendments are exempt from the real estate transfer tax, the sales tax, and the property tax (IPI) for those who are the first to invest with the project’s promoters or developers.

This law also ensures the proper application of environmental and municipal ordinances, thus guaranteeing the project’s successful development and ultimately protecting the investment.
In short, acquiring a second home not only benefits an industry that contributes to the country’s development, but also represents a source of savings for the buyer—an investment that generates returns on its own.