The law CONFOTUR - Tax benefits for investments in tourist areas

Law 158-01 or CONFOTUR law establishes certain benefits and tax incentives for real estate projects, shops, and commercial activities in order to encourage investment in tourist areas of the Dominican Republic. 

Developers and builders benefit from tax exemption for building materials, which makes the construction more efficient and profitable. This, in turn, translates into a better price for the final consumer. 

It also offers benefits for the first buyer of a property located in a project developed under the CONFOTUR Law, which applies to most projects in tourist areas of the Dominican Republic. 
These benefits are: 
1. Exemption from payment of 3% of the property value for the registration and transfer of the property in your name (Transfer Tax on Real Estate Rights) 
2. Exemption from annual payment of 1% of the property's value for Real Estate Property Tax (IPI). The length of this exemption can vary depending on the project and is usually between 10 to 15 years. 

Consult your real estate agent to find out all the benefits for you.