Page 81 - Caribbean-Central America Profile 2018

DOMINICAN REPUBLIC

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

Official Name: Dominican Republic
Capital: Santo Domingo
Nationality: Dominican(s)
DOMINICAN REPUBLIC
Official Language: Spanish
Population Total (millions): 10.65 (2016 est.)
Size: 18,700 square miles
Currency: Dominican Peso (DOP)
SANTO
DOMINGO Internet Domain: .do
International Dialling Code: +1 809
Electricity: 110 volts/60 cycles

COUNTRY OVERVIEW INVESTMENT INCENTIVES
The Dominican Republic has a large range of investment opportunities in the following sectors:
q The Dominican Republic’s fine blend
of history, nature and quality of life are • Commercial: in the period 2010-2016 the trade / industry sector earned an some $ 3,877.3
immersed in a modern atmosphere, with all million, representing 23.9% of GDP.
the amenities and socioeconomic stability • Real Estate: real estate projects enjoy the incentives promoted by the Government, as well
that make the country the perfect location as access to a market of buyers with significant purchasing power.
for investment or tourism opportunities.
• Transportation and Logistics: the strategic location gives access to the rest of the Americas
q Some of the most beautiful colonial and the world, with the largest number of air and sea connections throughout the Caribbean.
buildings are located at the Colonial City • Services: the service industry consists mainly of Contact Centers, Back Offices and software
of Santo Domingo, featuring the Cathedral development.
Primada de America declared world • Manufacture: the manufacturing sector is offered great advantages for its development and
heritage by UNESCO.
business activities.
q The Dominican Republic’s appeal also • Cinema Industry: in 2010, the Government promulgated the Law on the promotion
comes in the form of sunny beaches with of cinematographic activity (108-10), which provides various tax incentives for the
crystal-clear waters beyond compare, development of this economic activity.
impressive mountain ranges sprinkled with
spectacular rivers and waterfalls, and a • Telecommunication: telecommunications represents an important segment in the dynamism
million-year-old saltwater lake (the size of of the Dominican economy.
Manhattan) teeming with exotic wildlife. • Mining: there has been an increase in the levels of production of gold and marble, in
addition to the production of the main construction aggregates.
The Dominican Republic, offers an exclusive • Tourism: endowed with countless natural resources that make it the investment and tourist
geo-strategic position for the development of a destination par excellence.
logistics platform as it offers excellent access
to the Americas and the rest of the world. It As part of the incentives offered by the Dominican Republic to create excellent business
is the second country in Latin America and opportunities, it relies upon foreign investment Law No. 16-95. The main incentives granted
the Caribbean in terms of connectivity - by this Law are:
transport, logistics and telecommunications
infrastructure. • Equal treatment to foreign and national Investors.
• Investors are granted a status of “special resident,” which, under the Special Residency
The Dominican Republic possesses Program, gives them the same rights as any foreign resident in the country. The benefit also
uncountable natural resources which make applies to family members and project technicians.
it and excellent investment and tourism
destination. It has had economic growth that • It also allows full repatriation of capital and profits.
positions it as a regional leader in Foreign
Direct Investment (FDI). Companies from all • Free convertibility of funds.
over the world choose Dominican Republic as • Free access to the international currency through local banks and the Central Bank of the
a destination for their investments, contributing Dominican Republic.
to the diversification of the different sectors of
the economy. • Quick and simple registration procedure at CEI-RD.

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