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For those readers that have asked for some specific travel and other information regarding the Dominican Republic north coast (Cabarete, Puerto Plata, Sosua), we recently returned from a business trip in that area and took the time to do some “part time” scouting around: Cabarete – This small town is located about 15 minutes down the road from Sosua, and is the place to stay if you do not want to stay in larger resort town.  While German tourists mostly frequent Sosua, Cabarete is more of a haven for Canadian and Swedish tourists (with a few other nationalities mixed in).  Noticeably absent were the young Canadians and other non-Dominicans usually found working in the beach bars and restaurants (working illegally without visas or permanent residency for the most part).  Our sources previously informed us that immigration did a surprise sweep of the business establishments, checking for work visas or Cedula cards (indicating permanent residency and the right to legally work in the country).  While I did not disbelieve the information I had obtained some time ago about this, it is quite evident now when you see it for yourself firsthand.  The story I heard was that some young North-American “tourists” were jumping over fences to get away from immigration, but we all know how some stories get blown out of proportion (sounds like a story from the US involving Mexicans).  While this was the first time immigration checked Cabarete in about 5 years, it proves that they will check when you least expect it. For some general information about Cabarete, please contact Mr. Kelvin Dueck, who is in charge of guest services at Windsurf Resort.  Kelvin is a Canadian that has spent 2 years in Cabarete and is an all around “good guy” to speak with regarding local information.  He of course would like you to stay at his hotel, so if you contact him, please keep in mind that he of course may be answering you under the premise you might be interested in booking a room with him.  Jaime at the front desk tells us that standard room rates are about US$ 70 per night, which is not a bad deal if this is the rate for a two bedroom unit.  The Windsurf is not an ultra luxurious place, but clean and decent for the money (plus the service is excellent).  Kelvin tells me he will take “extra special care” of our clients and readers, so see what he has to offer on rates.  Tel. 809-571-0718, Fax 809-571-0710 Email: windsurf@codetel.net.do -

Reprinted from the Ascot Advisory Services Weekly Update - a weekly newsletter from the Dominican Republic.  Telephone: 809-334-5387 or 809-756-1917 Email: info@ascotadvisory.com -  For additional articles and information on Dominican Residency, real estate, investments and related matters go to John's websites: . For Investment Information -  http://www.ascotadvisory.com - For Information on the Dominican Republic - http://www.thedominicanrepublic.net

We hear that local studio apartments in Cabarete are renting for the equivalent of US$ 225 per month and “regular” apartments for about US $ 400.  Also, some property bargains may be found in small farms or properties east of Cabarete in Gaspar Hernandez and the areas on the way to Rio San Juan (possibly less than US$ 20,000 for a small farm or piece of land).

One very positive comment about the town is the number of reasonable beachfront restaurants.  Expect about US $ 10 per person for dinner, which in my opinion is very reasonable for a restaurant in a “tourist town”.

Sosua – Pretty much as we last saw it with mostly German & European crowd.  We have heard some stories about increased pickpocket activity in Sosua, but that was not evident to me.  Sosua has always had a reputation of having quite a bit of evening activity regarding “ladies of the evening”, but we hear the police have been cracking down.  For some advice, Cabarete is for families and a place to bring your teenagers (we saw quite a few young tourist couples with babies in Cabarete, Sosua is more for adults only).

The local Remax office in Sosua is still offering villa homes to tourist for US$ 300,000 and up.  We have heard some bargains might be available regarding apartment rentals as the tourist season has not been so good for the past two years, but with respect to property, bypass Remax and look elsewhere if you want to find the reasonably priced properties.  We have nothing against Remax by the way, but I get the impression they think they are in the Cayman islands or some place other than the DR.

For hotel bargains, Hotel Europa is US $ 33 per night.  It is not located on the beach and you will have a healthy walk to the public beach, but the price is right for a very comfortable place to stay (plus they have a swimming pool).  Apartments for sale or rent directly across the street at “Plaza Sosua”, which appears to be the same owner as Hotel Europa (they claim studio apartments for purchase start at US $ 29,000).  Hotel Europa Telephone 809-471-0400,  Email:  consult@sosuainvest.com -

Miscellaneous:

One place we can suggest when in the North Coast or Santiago area is Hotel Camp David, located just outside of Santiago.  The view from the hotel’s restaurant is phenomenal.  Perched high above the city, you can see Santiago, Moca and Cibao.  Room rates for the hotel are RD$ 600 Pesos per night, or about US$ 38 and well worth it, even if for just one night.  In truth, there is not much of anything to do up there, the hotel does not even have a swimming pool (although they tell us they will be putting one in), but a place worth an overnight stop.  Telephone 809-626-0587, 809-736-7230 or 809-223-0666.

With regards to investments, we have heard of a local attorney that apparently is offering up to 4% per month on deposits in Pesos.  The story is that these are for loans being made to wealthy local Dominicans, who for one reason or another would rather take a discreet loan than a bank loan.  At first glance this seems somewhat odd in comparison to 90-day commercial paper in Pesos with a local reputable broker in Santo Domingo at 20% to 23% interest.  However, considering that bank interest rates on personal loans are about 36% or more, 3% to 4% per month does not seem so out of place.  My concern is that such deposits are not being made with a local banking or other formal financial institution and there is nothing stopping the attorney from “heading for the hills” with the “loot”.  However, we did speak with a local European gentleman that claims he has had his money on deposit for a number of years and has never missed a beat regarding monthly interest or return of principal when requested.  In fact, he tells us he has taken a loan in his local “home” country at 8% annual interest and is investing it in the Dominican Republic at these 40% annual rates (to make the difference).  This is the ultimate example of taking the bank’s money from one country, and investing it in another country, making the spread for a tax-free monthly income.  Regardless, this needs a little more looking into, as the safety factor of personal loans and integrity of the attorney (whom I do not know) still concerns me somewhat.