Applicable taxes for foreigners and companies residing and operating in the Dominican Republic
Like any individual residing abroad for the first time, foreigners who reside in the Dominican Republic question whether the payment of taxes is mandatory or not, taking into account they are paying taxes at the same time in their country of origin. The truth is, most of the times, this
Advice for purchasing a real estate in Dominican Republic
What legal precautions must be taken when buying a real estate property in the Dominican Republic? This question arises when we buy a house, apartment, commercial property or a piece of land to build a home or business. With so many frauds and illegal transactions that occur today when buying
Buying a Vehicle in the Dominican Republic
Acquiring or selling a new or used vehicle, regardless of its model or brand, is a quite common and simple process to carry out in the Dominican Republic, for both Dominican citizens and foreigners residing in the country. The process of formalizing the sale of the vehicle differs when the
Real Estate 101: Buying Properties in the Dominican Republic
When acquiring a real estate property, either as a residence or for business, it is highly advisable to hire a lawyer to assist you throughout the process and make sure all documents are complete as well as complying with all government requirements. Skipping any step or missing any type of
Off-shore Companies: A Good Option for Doing Business in the Dominican Republic
For most of us, doing business in a foreign country can be stressful and complicated. Trying to understand their laws and ways of doing business can be a challenge, even for big foreign enterprises that wish to expand into other countries, looking for new and promising markets. For many years,
The Apostille and Its Effect on the Legalization Process
Today many people ask themselves the following questions: Why do I have to legalize a document that will be sent abroad with the Apostille, if it wasn’t necessary before? Why are public institutions not accepting foreign documents without the Apostille legalization? These inquiries are causing anxiety for those who perform
The International Comparative Legal Guide to Real Estate 2010
QUESTIONS 1Real Estate Law 1.1Please briefly describe the main laws that govern real estate in the Dominican Republic. Laws relating to leases of business premises should be listed in response to question 10.1. Those relating to zoning and environmental should be listed in response to question 11.1. The main governing legal text regarding Real
Project Finance 2009
Collateral 1 What types of collateral are available? Real estate, operating and other license rights or concessions, leaseholds, buildings, moveable property, contractual rights, receivables, shares, securities, onshore and offshore bank accounts, entire enterprises, after-acquired property, proceeds from investments and the sale of collateral are all available. Subject to limited restrictions, security may be granted
Simplified Tax procedure in the Dominican Republic
The Dominican State issued, on November 24 2008, Presidential Decree No. 758-08, which implemented a Simplified Tax Procedure (STP) for Reporting and Paying Income Tax and Value Added Tax (ITBIS), to help small local taxpayers, lacking an organized accounting system, to comply with their tax obligations. This procedure is intended to
Project Finance 2008
Collateral 1 What types of collateral are available? Real estate, operating and other licence rights or concessions, leaseholds, buildings, moveable property, contractual rights, receivables, shares, securities, onshore and offshore bank accounts, entire enterprises, after-acquired property, proceeds from investments and the sale of collateral are all available. Subject to limited restrictions, security may be