Senator submits bill regulating the acquisition of real estate by foreigners in border areas

Santo Domingo.- Senator for the province of Hato Mayor, Cristóbal Castillo, submitted a bill which aims to regulate, supervise and control the acquisition, possession, use and transfer of real estate located in the border area by citizens, companies or foreign entities.

The bill consists of 16 articles, establishing in its number 6 that the acquisition of real estate by foreigners is prohibited in strategic areas for national defense, as well as on military or institutional land, in protected or conservation areas, and in sectors where critical infrastructure exists.

The draft bill of the ruling legislator also establishes that the use of the property “must strictly coincide with the authorized purposes, which may be: a) Agricultural development. b) Regulated tourism projects. c) Approved industrial or commercial projects. d) Personal or family housing.”

It also creates the National Registry of Border Investments, under the authority of the Ministry of Defense, the Ministry of Interior and Police, and the General Directorate of National Assets. It contemplates in one of its articles that the Dominican State may conduct periodic inspections to verify compliance with the authorized use of the property. About transfers.

The legislative proposal also establishes that any transfer, sale, assignment, or lease must have prior authorization from the State, in accordance with the established procedures.

Similarly, it is recorded that all acquisition acts carried out without the corresponding authorization will be annulable through administrative or judicial process in which due process is guaranteed.

State Property Recovery:

Castillo stated in his project that the State may recover property acquired or used in violation of this law through a guaranteeing administrative and judicial process, in which due process, the defense of the interested party, and the motivation of the decision are fully respected.