The Dominican Republic: Geography, Economy, and Culture

The Dominican Republic is a Caribbean nation which shares the island of Hispaniola with Haiti. Its many beaches and hotels make it a popular holiday destination attracting many tourists from all over the world. Punta Cana, a region on the eastern part of the country, has many beautiful beaches, resorts, and golf courses. The main language spoken in the country is Spanish but with various regional dialects also in use, such as Dominican Spanish. The Dominican Republic has a diverse culture with a rich history. Dominicans place high value on social etiquette and their public image as a way to project their confidence and place in society. The people are friendly, polite and highly respectful to visitors, while going out of their way to cater to the needs of non-locals.

Public Holidays

2021
April 2	Good Friday
May 1	Labor Day
June 3	Corpus Christi
August 16	Restoration Day
September 24	Our Lady of Las Mercedes
November 6	Constitution Day
December 25	Christmas Day

Legal Entity Types

C. por A. (Compañía por Acciones)
S.A. (Sociedad Anónima)
S.A.S (Sociedad Anónima Simplificada)
SRL. (Sociedad de Resposabilidad Limitada
EIRL. (Empresa Individual de Responsabilidad Limitada)
Sociedad En Comandita Simple

Taxation

Corporate Tax: 27%
Income Tax (Lowest Marginal Rate): 0%
Income Tax (Highest Marginal Rate): 25%
VAT/GST/Sales Tax: 18%

Available Banks

Banco del Progreso (Local Bank)
Banco Popular Dominicano (Commercial Bank)
Banco BHD Leon (Merged from Banco BHD and Banco Leon) (Commercial Bank)
Banco del Progreso (Commercial Bank)
Banco Santa Cruz (Commercial Bank)
Banco Caribe (Commercial Bank)
Banco BDI (Commercial Bank)
Banco Vimenca (Commercial Bank)
Banco Lopez de Haro (Commercial Bank)
Bancamérica (Commercial Bank)
Banco Atlántico (Commercial Bank)
Banco Federal (Commercial Bank)
FirstCaribbean International Bank (FCIB) (Foreign Bank)
The Bank of Nova Scotia (SCOTIABANK) (Foreign Bank)
Royal Bank of Canada (RBC) (Foreign Bank)
Banesco (Foreign Bank)
Scotiabank (Foreign Bank)
Banco Promerica (Foreign Bank)

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