When the Dominican Republic enacted a new insurance law last summer, it affirmed its interest in having insurance companies from the United States and other countries operate in the Dominican Republic. The new law also makes clear what requirements insurers from the U.S. and elsewhere must meet to enter the

Last year, the United States Congress passed the Trade and Development Act of 2000. The law was intended in large measure to promote the economic development of the Caribbean region by expanding trade relations between the U.S. and the countries of this area. Although it may be too early to

Located on an island in the Caribbean, the Dominican Republic is a growing destination for U.S. businesses seeking to establish or expand overseas operations. An economically and politically stable country organized as a representative democratic government, it is the Caribbean's largest democratic country. The Dominican Republic had an inflation rate

A. Introduction B. General Principles 1. Objective of the Law, regulations, and principles of the Social Security System. The objective of the new Social Security Law has been to establish the Dominican System of Social Security (hereinafter “SDSS”) within the framework of the Constitution of the Dominican Republic, to regulate and develop the reciprocal rights

In recent years, the Dominican Republic has enacted a wide variety of new laws intended to enhance foreign investment in the country. These include new tax, foreign investment and environmental statutes. Recently, the government enacted a new general law of electricity. This new law recognizes the importance of the private sector in

U.S. banks seeking to expand overseas may be more likely to turn to the Caribbean country of the Dominican Republic, now that it has passed a new banking law. Located on an island in the Caribbean, the Dominican Republic is a growing destination for U.S. businesses seeking to establish or expand

1. What is the legal system (civil law, common law or a mixture of both)? The Dominican Republic has a civil law based legal system. Foreign investment 2. Are there any restrictions on foreign investment (including authorisations required by central or local government)? There are only restrictions relating to (Article 5, Foreign Investment Law

INTRODUCTION Over the past year, this column has described and analyzed a variety of new laws and regulations enacted by the Dominican Republic with one primary goal: to open itself to foreign trade. The country's efforts have met with incredible success. As noted recently by the International Monetary Fund, the Dominican

The National Congress of the Dominican Republic has passed a new environmental law creating a Department of Environment and Natural Resources and streamlining the environmental review process required for development. The law defines dozens of environmentally-related terms, from "sustainable use," "protected areas," and "environmental quality" to "load capacity," "contaminant," and "sustainable development." In