CONFOTUR in the Dominican Republic, tax incentives

CONFOTUR, in the Dominican Republic, refers to Law No. 158-01, which promotes tourism development through tax incentives for approved projects in designated tourist zones.

It's a law designed to encourage both local and international investment in tourism-related real estate and infrastructure.

Specifically, it offers tax breaks to developers and investors in approved projects, making it attractive for those looking to invest in hotels, vacation homes, and residential complexes.

Featured Property:

NEW CONSTRUCTION 3 BED 2 BATH Location Sosua, Puerto Plata Property Type House Bedrooms 3 Bathrooms 2 Price $355,000

Projects under CONFOTUR can enjoy significant tax exemptions

The primary goal of CONFOTUR is to attract investment in tourism infrastructure and real estate, thereby boosting the Dominican Republic's tourism sector and economy.

Approved projects under CONFOTUR can enjoy significant tax exemptions, such as exemptions from property transfer taxes, annual property taxes (IPI), and other taxes related to construction materials.

The law is focused on specific tourist areas within the Dominican Republic, aiming to develop these regions and promote tourism in those areas.

CONFOTUR's tax benefits make it particularly appealing for investors, both foreign and local, who are interested in projects such as hotels, vacation homes, and residential complexes in designated tourist areas.

Many projects in popular areas like Punta Cana, Dominican Republic, Cap Cana, and Bavaro are CONFOTUR-approved, offering potential investors significant tax savings.

The tax benefits under CONFOTUR can last for a specified period, often 10 to 15 years, depending on the project.

In essence, CONFOTUR is a key driver for tourism and real estate development in the Dominican Republic, offering substantial incentives for investors to participate in the growth of the country's tourism industry.