FDI in the Dominican Republic mainly goes to tourism (about 30%), telecommunications, real estate and mining sectors, and the country is actively looking to attract investment in more advanced manufacturing and services. The USA, Canada and Spain are the main investors, though China’s and Mexico’s percentages are increasing. Dominica’s IT services industry, with full government support, aims to attract more high-tech foreign investment. Incentives for investors include political stability and prime access to the U.S. market, thanks to a Free Trade Agreement (CAFTA).
The Dominican Republic has adopted policies of greater openness to international trade and investment in the last decade, and now aims to double FDI inflows with a national competitiveness plan, focused on entrepreneurship and innovation. Recent amendments to the mining law should also attract investment. Another incentive is the Investor Visa Programme, where foreigners who invest at least USD 200,000 can gain permanent residency, and can become citizens after 18 months.
Ranked 115/190 for Ease of Doing Business, the Dominican Republic is looking promising, but local expert guidance is crucial. Among other issues, inadequate infrastructure and a lack of SOP for customs fees on imported goods can make business difficult for investors.
AUXADI can become your ideal investment partner in the Dominican Republic. We offer a One Stop Shop value added Outsourcing services in the areas of Accounting and Reporting, Tax Compliance, Payroll Management and Representation services, among others.