About the Dominican Republic

From above the skyline, Punta Cana looks like a tropical paradise. In fact, in recent years this Dominican town has aroused one of the top tourist destinations in the Caribbean, a place where exotic beaches merge with a world class infrastructure.

But tourism needs more than just nice beaches in order to thrive. It needs things like political stability, security for tourists and a business-friendly climate. Dominican Republic exceeds these aspects. 

That's the reason why this Caribbean country has become one of the top countries for investors who want to start making business in paradisiac destinations. DR is the leading country in terms of foreign investment in Latin America. Now it is experiencing a real investment boom: $ 2.84 billion in 2020, up to 10% when compared to 2019.

So if you are an investor who is looking for investment opportunities overseas, you have come to the correct place.

Doing Business Briefing

Dominican Republic has some of the most friendly business climates in Latin America, a place where investors can find profitable business at a low risk, something uncommon in Latam, a region where political and economic instability is an usual matter.

Why is this? Because in the last decades the country has been governed by democratic leaders that value private investment and want to create jobs and opportunities for all Dominicans.

Dominican Republic has opened to the world and foreign investors are taking advantage of it. In 2020 the Foreign Direct Investment was $ 2.84 billions, a rise of ten percent compared to 2019.

How have they achieved this? The secret of DR success is basically a thriving tourism industry and a flourishing real estate market. Furthermore, Dominican Republic has understood how much investors value financial freedom, so they have closed Free Trade Agreements with many countries like the United States and Central America. This is a key aspect, because expanding your operations to the Dominican Republic would allow you to have an easy path to the American market.

Mundo's Freedom Rating (0-10)

Mundo's freedom rating of a country is essentially a freedom index whereby our team of specialists rates a combination of freedoms which include freedom from violence and personal attacks, financial freedom from high taxes and other government levies, and business freedom from government interference.

Political Stability: 9 

In the last 50 years, the Dominican Republic has been governed by democratic leaders that respect private investment and separation of powers, something uncommon in Latin America, a region characterized by populism and instability.

Since 2020, the Dominican Republic is governed by Luis Abinader, a 53-year old businessman who promised to drive the country out of the severe economic crisis caused by the COVID-19 pandemic. His promises: foreign direct investment and employment to all Dominicans. 

Companies and Structures

Dominican Republic is one of the best countries to do business in the Caribbean, a place where you will find a flourishing real estate market and a thriving tourism industry.

That's why Dominican Republic has aroused as one of the principal sources of Foreign Direct Investment in the Americas. For foreigners who are looking for new ways to do investment, it is vital to have the proper advice when establishing a company in the Dominican Republic.

In a nutshell, why should you create a company in the Dominican Republic?

-A strategic position in the Caribbean. DR is equidistant from Miami and Panama.

-Free access to the American and the Central American market thanks to Free Trade Agreements.

Available Investments

In Mundo our task is to investigate and have first-order information about business opportunities in each country we review. Regarding Dominican Republic, the best bet is on the real estate market, which has been thriving in recent years thanks to the booming of tourism.

Along with our partners we selected the best opportunities in this real estate market. What you will see here are the Rolls Royce of real estate investment in Dominican Republic, projects with an extraordinary return under low risk.

So on, the best place to live and to invest in DR is Punta Cana. This location was nicknamed as the ‘Coconut Coast’ because of the thousands of coconut trees that grow along the 48 kilometers of its white sandy beaches, some of them classified as top 10 in the world. 

Residency and Citizenship

Living in Dominican Republic allows you to have an extraordinary way of life: paradisiac beaches, world class resorts and warm weather, all this at a lower cost than other islands in the Caribbean.

However, this country has much more to offer than paradisiac beaches and a great business-friendly climate. There is a possibility to obtain a Dominican Republic passport in just two years, thanks to one of the fastest “citizenship by investment” program in the Caribbean.

After reading the great investment opportunities, the possibility to obtain a Dominican passport in just two years and the high standard of living for expats in Dominican Republic, you may be asking how to become a permanent resident in this caribbean country. 

Banking in Dominican Republic

Dominican Republic is one of the best places to visit and do business in the Caribbean. Its sunny weather, friendly business climate and perfect location on why this Caribbean country is an ideal place to move.

On our Dominican Republic Country Page, we have already covered how to set up a company, what an expat’s life looks like and some of their highly potential investment projects. Now we will tell you everything you need to know about a key issue: Bank accounts.

Bank accounts are a vital asset in modern life. It allows us to pay bills, take credits, process payments and many other things. If you want to move to Dominican Republic you will need a bank account based on DR pesos in order to simplify transactions. However, its possible to open accounts in US dollars and euros.

First of all, most Dominican banks allow foreign nationals to open a bank account in the country with their current passport or ID card and a letter of reference from their current bank. You don’t even need to be a permanent resident in the country.

Financial Licenses in Dominican Republic

The Dominican Republic is one of the main tourist hubs in the Caribbean. Its coasts are home to beaches, resorts, luxurious hotels, golf courses and casinos. 

Some special economic activities in DR need a special license to operate. For example, in order to open a casino you need a gambling license or if you want to operate in investment funds you would need an investment funds license. These licenses are granted by the Dominican government.

You must be careful, because if you operate without these licenses you can get in trouble with Dominican authorities. In this article we will explain all you need to know for some of the financial licenses available in the Dominican Republic.

Latest News about the Dominican Republic

The United States and the Dominican Republic Host Second High-Level Bilateral Dialogue on Institutional Reform 

The cooperation between the United States of America and the Dominican Republic has grown in recent years, an example can be found in the first High-Level dialogue held at the beginning of 2021 where several signs of progress were made.

Furthermore, the situation has been even better and in the last months, as the authorities from both countries held the second High-Level Dialogue on Institutional reform. In this case, the dialogue was led by the Dominican president Luis Abinader and Samantha Power, the Administrator of the US Agency for International Development (USAID).

Citizenship and Residency

Dominica state is only over 40 years old. In the late 1978, the United Kingdom acknowledged independence of its colony. Dominica is part of Commonwealth, a voluntary union of former British colonies.