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Entries from July 2019

  • Surrounded by the Atlantic Ocean and Caribbean Sea

    Dominican Republic is a beautiful country in the Caribbean! Fabulous vacation spot or a place to live forever!

    The Dominican Republic is the second Caribbean biggest country, is the most development in the Caribbean, has the biggest Caribbean capital Santo Domingo and is the most visited in all Caribbean and Central America. The country is a mix of colors, people, traditions, music, lifestyles and of course of joy and most important happy people.

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  • 5 reasons to look at Dominican Republic for your business

    Five centuries after Christopher Colombus, Seedstars set up foot on Santo Domingo for the very first time, adding the Caribbean to its map of emerging tech hubs. Great news!

    Traveling to a paradisiac island to look for promising startups across beaches, coconut and colorful fishes sounded like a dream.

    And while we were very excited to go to the Dominican Republic for its incredible bio-ecosystem and fairytale landscapes, we never expected to find an El Dorado of opportunities for innovation and entrepreneurship as well.

    Understandably, the Dominican startup ecosystem is still at an early stage. For example, you will not yet find many investors willing to bet on the island’s talent pool, nor established public and private support structures for entrepreneurs.

    But things are starting to move, and besides those shortcomings, the Dominican Republic is definitely a place to consider for doing business.

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  • Doing business in the Dominican Republic

    This article gives an overview of key recent developments affecting doing business in Dominican Republic as well as an introduction to the legal system; foreign investment, including restrictions, currency regulations and incentives and business vehicles and their relevant restrictions and liabilities. The article also summarizes the laws regulating employment relationships, including redundancies and mass layoffs, and provides short overviews on competition law, data protection, and product liability and safety. In addition, there are comprehensive summaries on taxation and tax residency, and intellectual property rights over patents, trade marks, registered and unregistered designs.

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  • Life in the Dominican Republic

    Living in the Dominican Republic can be a great experience for expats: what's not to love about sunshine, turquoise waters, and friendly, multicultural local people? Read our Blog guides on living in the Dominican Republic for info on immigration, naturalization, healthcare, education, transport, cultural life, business, banking, real estate and a lot more.

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  • Where would you like to live in the Dominican Republic?

    Did you know that the Dominican Republic was the final landing place for Christopher Columbus in 1493? No? Well that's alright, because this article is not a history lesson but rather an intent to help you answer the following question:

    Will the Dominican Republic be YOUR final landing place? And if so, WHERE?

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  • Advice about Dominican Republic's Healthcare

    Wondering about healthcare services available in the Dominican Republic and how to access them? Find out in this article.

    If you are moving to the Dominican Republic, one of your major concerns is likely to be what the healthcare system is like and what services are available. The country does have an excellent healthcare service, but only in some places, so you should take this into account when deciding where to live.

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  • Why choosing Dominican Republic for Banking & Investments

    Many of Corcons clients have chosen the Dominican Republic for their own banking or investment needs. US Dollar or EURO  savings accounts, bank certificates of deposit (90-day or longer) or commercial paper investments (90-day or longer) are both locally tax-free and also offer the opportunity for higher rates of interest than what may be found elsewhere. As an example of the rates available for a 90-day time deposit (minimum US$ 10,000 or EURO), one can expect 5% or more for a bank CD and up to 9% for a commercial paper investment (90 Days). All interest for such deposits is paid monthly, and may be direct deposited to your bank savings account.

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  • Is Banking Safe, or in the least Insured, in the Dominican Republic?

    Many Americans, Canadians, and other nationalities mistakenly believe the stereotype that the Dominican Republic is a tin-pot third world banana republic. They believe there are no regulations, extreme poverty everywhere and complete government mismanagement. I do not agree with this opinion, but this is the stereotype that many other nationalities still have.

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  • Dominican Banks do there have On-Line Banking and Debit Cards?

    Yes, Yes and Yes. Most of the Dominican Banks now offer on-line banking or at least the ability to view accounts on-line. Some of the smaller savings and loan type of institutions may not all have an Internet or on-line system in place for clients, but all of the larger banks certainly do. However, each bank has their own comfort level in terms of what they will allow to happen using the on-line system. Almost all have some form of local bill paying option and ability to transfer between accounts within the bank. Most Dominican Banks are very concerned about fraud and of that reason would tend not to allow outbound wire transfers to be done via the on-line system (they want to make sure it is really you requesting the disbursement), and instead would prefer clients make such requests in person using the banks own specialized request forms for that purpose.

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  • Questions and Answers about Banking in the Dominican Republic

    Why Would Someone Want to Bank in the Dominican Republic?

    First and foremost, one must understand the idea of a FREE MARKET and what that means. A free market means, among other things, that capital will seek out the highest return or benefit. That is to say, investors will send their money where it suits them best, for the maximum return. It also means, whether you realize it or not, countries are in competition with one another for foreign investment money. In the case of the Dominican Republic, the central bank very much would like to see the US Dollar cash reserves of the country to increase for a variety of very positive reasons (as does any other small country that trades with the US, Europe or Asia).

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  • What you need to know to start a business in the Dominican Republic

    The Dominican Republic is the second largest country in the Caribbean region by area. Tourism, agriculture, mining and textiles are among the key sectors of the economy making it an attractive location to start your business. But, there can be challenges if you don’t know the specifics of the local processes.

    In the Dominican Republic, there are four types of entities that you may choose for your business, a Limited Liability company, Individual Enterprise of Limited Liability company, a Joint Stock company or a Simplified Joint Stock company. 

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Corcons is not only a awesome immigration assistance.

We look forward to assisting you in making the right decision of changing your life and empowering your future in the Dominican Republic.