Incentives for Foreign Investments in the Dominican Republic - General Overview

The Dominican Republic has been recently modernizing its legal and economic system in order to adapt to new globalized standards and involve foreign capital. With the highest GDP growth rate in the Caribbean, the Dominican government supports internationally accepted financing arrangements and observes international operating standards. Tourism, telecommunications, and free trade zones have caused the greatest investment growth, but there are more opportunities like renewable energy, agriculture, mining, construction, aviation, electricity, and ports.

The Export and Investment Center of the DR (CEI-RD) is responsible for encouraging foreign investment. The main laws and regulations in this area are: (A) The Constitution of the Dominican Republic; (B) Law #16-95 on Foreign Investments, (C)Regulation 214-04 on Registration and Capital Repatriation, and (D) the DR-CAFTA free trade agreement. Also, Laws #8-90 and #158-01, covering Free Trade Zones and Tourism, offers generous tax incentives to investments in these sectors. And the government has supported investors looking for investment guarantees from external agencies by backing economically significant infrastructure projects with its full faith and credit.

INVESTING IN TOURISM IN DOMINICAN REPUBLIC

With over 500 kilometers of sunny beaches and turquoise waters, the Dominican Republic is also a cultural heritage consisting of unmatched colonial and modernist buildings, streets and structures with great and rich history, spectacular rural landscapes and the warmth of the Dominican people provides support to build one of the biggest tourist areas in the region, becoming the first tourist and golf destination in the Caribbean.

The tourism industry has positioned itself as the largest generator of foreign exchange flows into the country, thanks to a capacity of more than 68,500 rooms and 32 world-class golf courses with renowned hotel chains. The Dominican Republic received over 4.6 million visitors in 2013, generating revenues of more than US $5.090 billion, which makes us the number one destination in the Caribbean.

This sector benefits from Law No. 158-01 of Tourism Development for Low Income Areas and New Spots in Provinces and Localities of Great Potential.

WHY TO INVEST IN THE CARIBBEAN

Looking for a promising property market to invest in the nearest years? Then the balmy, palm-fringed islands of the Caribbean are certainly a rather pleasant place to start, and most likely, end your search.

Recently, many of the Caribbean islands have not only established themselves as tax-free but are also offering international income to be tax-exempt for those looking to invest in real estate and finance companies.

Moreover, in the last few years there has been the growth in dual citizenship and numerous tax advantages in the Caribbean region.

The rental market is also looking very optimistic in the Caribbean with more and more holidaymakers heading to the bliss islands.

Obviuosly, the Caribbean has lots to offer holidaymakers including all inclusive holidays, eco-tourism and luxury spa retreats, as well as being one of the world’s top destinations for honeymoons.

Of course it means the promise of healthy returns for property owners who let out their property commercially.

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