Bill would ‘zone’ the Haiti-Dominican border
Map by Diario Libre.
Santo Domingo.- A bill seeks to prevent foreigners or foreign legal entities from acquiring real estate in what would be called the “border security zone” and establishes that if these national companies have Dominican partners, they cannot transfer or endorse their shares to foreigners.
This is the bill that would establish the Legal Regime for Border Land Property, which was submitted on August 18 by the PLD senator for Elías Piña, Yván Lorenzo. He perished in the previous ordinary legislature.
The proposed law establishes, in article 39, that real estate belonging to the private domain, located in the border security zone, is transferable, for consideration or free of charge, solely in favor of Dominican men and women, according to legally acquired titles, as long as they are registered or re-registered in the corresponding public registry.
Whereas, paragraph 1 of the same article establishes that “foreign individuals and legal entities may not, in fact or in law, acquire real estate in the Border Security Zone under any title, with the exceptions related to lease concessions or authorizations granted by the Executive Power through a Presidential Agreement, when there is a public or social interest, in accordance with this law (if approved) or special laws.”