Page 82 - Caribbean-Central America Profile 2018

DOMINICAN REPUBLIC

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

CENTRO DE EXPORTACIÓN E Some advantages a company would receive if it to a total of 826 million consumers in the
INVERSIÓN DE LA REPÚBLICA established operations in one of the Dominican world, committed to a free and fair free trade
DOMINICANA - CEI-RD Republic’s Free Zones include exemptions from system that allows for the maximum benefit of
In order to satisfy a company’s needs promptly the following duties or taxes: competitive advantages.
and efficiently, the Dominican Republic
Center for Exports and Investment (Centro • Corporate Income Taxes GOVERNMENT
de Exportación e Inversión de la República • Incorporation and Capital increase Taxes The democratically represented government
Dominicana - CEI-RD), offer diverse services. • Municipal Taxes and Export Duties is divided principally into three branches:
Their highly-trained professionals will Executive, which is represented by the
guide you to explore and identify business • Taxes on title transfer of real property, President and his cabinet, Legislative, which is
opportunities, to work with other governmental construction and mortgages represented by a two house system of senators
institutions and their counterparts in the private • Business taxes, including VAT and deputies and Judicial, represented by a
sector, as well as to provide ongoing assistance national judicial council designed to separate
during the whole process of investment and Consejo Nacional de Zonas Francas de politics from judicial appointment process.
business activities. Exportación The President of the country is democratically
Av. Leopoldo Navarro No. 61,
Centro de Exportación e Inversión de la 5to. Piso del Edificio San Rafael elected and holds one term for four years. The
República Dominicana - CEI-RD Santo Domingo, Dominican Republic President of the country appoints a cabinet of
Av. 27 de Febrero esq. Av. Gregorio Ph: (809) 686-8077 ministers to handle certain affairs or direct
Luperón, Plaza de la Bandera, Fax: (809) 686-8079 certain government policies. The President is
Santo Domingo, 10138, Dominican Republic Website: http://www.cnzfe.gov.do also the official head of state and is commander
Ph: (809) 530-5505 Ext. 535 E-mail: a.cnzfe@cnzfe.gov.do in chief of the armed forces.
Fax: (809) 530-8208
Website: http://www.cei-rd.gov.do TRADE AGREEMENTS AND The President is elected via an election
E-mail: webmaster@cei-rd.gov.do INVESTMENT TREATIES that is distinct and separate from elections
• Founding member of the World Trade for representatives of the legislature. The
FREE ZONES Organization (WTO). democratically elected legislative branch
The Dominican Republic has been recognized • A member of the Central American consists of the congress, which is split between
by the success and development of it Free Integration System (Sistema de Integración the Senate and Chamber of Deputies, a system
Zones Program. There are a total of 57 parks in de Centro América - SICA). similar to the US government system. Senators
operation and more than 533 companies. are elected to a four-year term and there are 32
• A member of the Inter-American Bank seats in the senate.
The Dominican Republic’s Free Trade Zones for Economic Integration (Banco
(FTZ) provides for 100% exemption from Interamericano de Integración Económica The Chamber of Deputies has 178 members
all taxes, duties, charges and fees affecting - BID). elected through an open-list proportional
production and export activities in the zones. The Dominican Republic is a beneficiary in representation system for a four year term.
The Dominican Republic is probably one of many trade agreements such as DR_CAFTA,
the most progressive and best locations for any CARIFORUM and special trade agreements The Judicial Branch at the national level consists
company seeking a location to do business with with the European Union. These agreements of a National Judicial Council. This National
minimum taxes and very reasonable labor cost. Judicial Council has the responsibility of
grant the Dominica Republic preferential access

Starting a Business - Registration Requirements:
No: Procedure Time to complete: Costs
1 Check company online Less than one day (online procedure) included in procedure 2

2 Purchase of the company name 5 days DOP 4755
3* Payment of the incorporation tax 1 day (simultaneous with previous procedure) 1% of the capital
Register the company in the Chamber of Commerce and
4 5 days DOP 12,000
obtain the identification number (RNC) online
File for the National Taxpayers Registry at the Internal
5 2 days no charge
Revenue Service (DGII) and apply for fiscal receipts
6 Register local employees with the Department of Labor 2 days DOP 500
Register employees at the Social Security Office
7* 1 day (simultaneous with previous procedure) no charge
(Tesorería de la Seguridad Social)
* Takes place simultaneously with another procedure
Source: The World Bank Group 2010

B-46 Caribbean-Central American Action