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Dominican Republic Facts and Figures

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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).

 
Information Type Dominican Republic Data
Population 10,847,910 people (June 2020)
Gross Domestic Product PPP (GDP) US$84 billion (June 2020)
GDP Per Capita US$8,100 (June 2020)
Inflation Rate 3.55% (June 2020)
Currency Dominican Peso (DOP)
Exchange Rate Versus U.S. Dollar 57.65 Dominican pesos per U.S. dollar (June 2020)
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
Income Tax Rate for Residents 25%
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.

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How Living In The Dominican Republic Could Change Your Life

The final landing place of Columbus and his crew on their grand discovery tour of the New World in 1492, today the Dominican Republic is a place where you can: Live well on US$1,420 a month (enjoying the extras you’d struggle to afford back home)... Own a three-bedroom home just off the beach from as little as US$248,000 (or a loft-style apartment for less than US$120,000)... Enjoy year-round summer-like weather—most days here are sunny with clear blue skies. The average...

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​Learn more about the ​​DOMINICAN REPUBLIC ​​​and other countries in our free, daily Overseas Opportunity Letter​​​​​​​​​. Simply enter your email address below and we’ll send you our FREE REPORT – ​​​Dominican Republic: The Last Affordable Retirement And Investment Haven In The Caribbean