Overseas investors can enjoy the benefits of no capital gains tax, no buying tax and no inheritance tax when buying into a new luxury 5 star resort in the Dominican Republic.

Las Canas, which is being marketed in the UK by Harlequin Property, is situated on the Dominican Republic’s north coast and enjoys 800 metres of white sandy beaches. It is 10 minutes from Cabarete and only 20 minutes from Gregorio Luperon International Airport at Puerto Plata.

Prices at Las Canas start from £75,000. There is a two-year 10 percent rental guarantee followed by 50 percent net room share rate for five years with owners enjoying 30 days free use per year.

Harlequin Property can arrange 100 percent finance with a 70 percent guaranteed mortgage from completion. Just £1000 deposit is required, with nothing else to pay until completion.

The boutique hotel development offers a selection of fully furnished studio, one and two bedroom apartments, 3, 4, 5 and 6 bedroom villas and one bedroom water bungalows. There will also be a signature golf course, sports academy, fitness centre and The Island Sanctuary Spa.

Dave Ames marketing director of Harlequin Property said: “The Dominican Republic is a major tourist destination for sun seekers and thrill seekers alike and there is a huge demand for quality hotel accommodation with demand currently outstripping supply.

“With few five star hotels in the Dominican Republic and the tourist industry in an upward trajectory it is an ideal investment opportunity. Property prices in the Dominican Republic are still relatively low compared to popular islands such as Barbados, however the next five years will see the Dominican Republic play catch up and property prices will rise accordingly as the Dominican Republic is further developed.”

Each property will come to the market fully furnished with air conditioning, entertainments systems, flat screen TV, internet access and telephone as standard. There will be a whole host of amenities on site with numerous bars and restaurants, freshwater swimming pools and children’s play areas.

The Harlequin Sports Academy will offer expert baseball, football and tennis coaching for people of all ages and abilities.

The Harlequin Fitness Centre will comprise of a full range of cardiovascular and physical training equipment. There will also be a diving and Water Sports Centre offering PADI tuition, snorkelling, catamaran sailing, kayaking, windsurfing and waterskiing.

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