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Dominican Republic Facts and Figures

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/

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