Dominican Republic

Adviser Company Checo & Frias, S.R.L, Dominican Republic

Adviser Company Checo & Frias

We are a certified firm that provides auditing, taxes, accounting, advice, which is made up of a team of authorized public accountants. We offer a high-quality service, since we have vast experience, acquired through several years of professional practice.

We work every day with a view to be a benchmark of good practices for Responsible Financial Management, providing our clients with excellent financial, fiscal, accounting and legal management services that empower them with the numbers of their businesses.

 

Economic Overview & Business Opportunities

Why is the Dominican Republic a good country to do business?

Punta Cana, Bayahibe and Bahía de las Águilas are some of the destinations for which the Dominican Republic is known land of paradisiacal beaches and cheerful people.

Beyond these privileged qualities and recognized tourist destinations, the country has characteristics that make it a favorable place to develop business projects.

1. Powerful and stable economy

The Dominican economy has been the best performer in Latin America in the last three years. In 2016, the Gross Domestic Product (GDP) grew 6.6%, compared to other Latin American countries.

Inflation is one of the lowest in the region. Last year this indicator was only 1.7%, according to figures from the Central Bank. In contrast, the average for Latin America and the Caribbean was 5.8%, according to data from the International Monetary Fund (IMF).

2. Competitive costs

Dominican Republic is a competitive country in terms of export and import costs of containers. This has been shown by important worldwide listings, such as the Caribbean and Central American Countries of the Future 2015/2017, of the FDI Intelligence, in which the nation occupies the second position in the category Best Connectivity.

In addition, Dominican has the fourth best port in the region in terms of quality and is the second largest in terms of distribution, with direct service to and from Asia. Also, it is the only country on the Atlantic coast capable of receiving Post-Panamax ships.

3. Solid legal framework and social stability

The country is based on a democratic social state of law, where freedom of enterprise is guaranteed, free access to goods and services and respect for the established legal framework.

Investments are guaranteed not only by the solid legal framework: there are tax incentives that ensure the profitability of your projects, while generating decent employment, energizing the economy and promoting the development of the country.

4. Incentives for foreign direct investment

Foreign direct investment (FDI) finds in the Dominican Republic a special incentive regime such as tax exemptions (partial and total) for the start-up of its businesses.

5. Strategic location and preferential access to markets

Dominican Republic has a privileged geographical location. Located in the Center of the Caribbean, it has easy access to the markets of North and South America. In addition, it serves as a bridge to the markets of America and Europe.

It has preferential access to different markets through strategic alliances such as the Free Trade Agreement between the United States, Central America and the Dominican Republic (DR-CAFTA).

6. Accessibility

Dominican is a connected country. Its access and transportation facilities are based on 12 seaports for freight, eight international airports and five special cruise ports.

7. Competitive human capital

The nation has professionals trained in national and international institutions. In 2016, it positioned itself as the second country in Latin America with the best command of English as a second language in the Education First English Profiency Index.

Continuing to improve the quality of education is a priority of the Dominican Government, which makes efforts for formal education to forge competitive citizens.

8. Modern telecommunications infrastructure

Dominican Republic has access to the most advanced telecommunications technologies. This advantage has allowed expanding the offer of internet, telephony, radio and television broadcasting services.

The companies that offer this service are foreign investment, which reflects the convenience of this sector to develop projects in the Dominican Republic. Last year, commercial activities in this area grew by 5%, mainly due to the increase in mobile and fixed telephone services.