Dominican Republic Facts and Figures

Facts About the Dominican Republic

The Dominican Republic is the oldest country in the Americas. This island nation was discovered by Christopher Colombus in 1492 during his first trip to the West Indies. The DR is known for being a country of strong faith. The Dominican Republic flag is the only national flag to feature the bible. Santo Domingo was home to the country’s first catholic cathedral. The population of the Dominican Republic is estimated to be 95% Roman Catholic.

With over 25 golf courses, the Dominican Republic is becoming one of the top destinations for golfers throughout Latin America and the Caribbean. The PGA regularly holds events in the DR and there is even a course designed by legendary Jack Nicklaus (Punta Espada Golf Club).

Population	10.48 million (2015 est.)
Gross Domestic Product PPP (GDP)	US$127 billion (2015 est.)
GDP Per Capita	US$12,098 (2015 est.)
Inflation Rate	0.8% (2015 est.)
Currency	Dominican Peso (DOP)
Exchange Rate Versus U.S. Dollar	45.89 Dominican pesos per U.S. dollar (May 2016)
Language	Spanish (official)
Capital	Santo Domingo
Population of Capital City	2.9 million (metropolitan area)
Time Zone	GMT minus 4
Seasons	Tropical: Wet season lasts from May to November
International Dialing Code	1-809
Electricity	110V / 60 Hz, Plug Type: A (U.S. style)
System of Government	Democratic Republic
Current Leader	President Danilo Medina Sanchez (re-elected May 15, 2016)
Income Tax Rate for Residents	27%
Property Tax	0% to 1%
Capital Gains Tax	27%
Inheritance Tax	3% to 4.5 %
Rental Income Tax	27%
Transfer Tax	3%
Sales Tax	18%
Restrictions on Foreign Ownership of Property	None
Local Chamber of Commerce	www.camarasantodomingo.org.do/ Avenida 27 de Febrero No. 228, Torre Friusa, Sector La EsperillaCódigo Postal 10106 Santo Domingo, Distrito Nacional.Tel: 809-682-2688
American Chamber of Commerce	http://www.amcham.org.do/en/ Torre Empresarial, 6to.Piso, Ave. Sarasota No. 25,Santo DomingoTel: 809-381-0777
Primary Exports	Ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods.
Residency and Visa Requirements	Residency in the Dominican Republic is easy and the country embraces—even offering rewards and incentives—to foreign residents and investors.
Special Benefits for Foreign Residents or Retirees	Residents can apply for loans, import household goods and a car tax-free, and can apply for citizenship (and thus a second passport).
National Airline	PAWA Dominicana is the current flag carrier of the country. http://fly-dominicana.com/