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Monday, 14 March 2011 17:40

In fact, it's difficult to visit the Dominican Republic without dreaming about living here. Whether because of our tropical weather, warm and friendly people, safe environment, technological developments or tax incentives, many travelers have decided to make their stay in the Dominican Republic permanent.

Our first visitor, Christopher Columbus, proclaimed Hispaniola "...the most beautiful (country) that human eyes have ever seen". So its no surprise that so many visitors choose to stay. Many are fascinated by our magnificent unspoiled nature, lush green valleys, coconut palm-lined beaches and rich history and culture. Thousands of our residents were once visitors with the dream of living in a beautiful Caribbean country.

It is no wonder with Dominican laws like Law 158-01 on Tourism Incentive, which relieves developers of all national and municipal taxes for ten years, including the transfer of ownership to the first purchaser of a property.

If you want to move to the Dominican Republic and establish your business or company, visit the Export and Investment Center of the Dominican Republic,CEI-RD: and also the National Council of Competition Web

Countries with the best commercial exchange relationships with the Dominican Republic can even work with Dominican Chambers of Commerce to develop their business.

If you have a monthly pension, you can use Law 171-07 on Special Incentives for Pensioners and Persons of Independent Means from foreign sources. This Dominican Law guarantees tax-free receipt of pension income, including the possibility of moving your belongings over; which even includes your car.

There are many other benefits as well:

- Receive 50 percent Exemption on property tax.
- Exemption of taxes on the payment of dividends and interests, generated within the country or overseas.
- Receive 50 percent Exemption on taxes on mortgages, when the creditors are financial institutions that are regulated by Dominican financial monetary law.
- Exemption on the payment of taxes for household and personal items.
- Exemption from taxes on property transfers.
- Partial exemption on vehicle taxes.
- 50 percent Exemption of taxes on capital earnings, as long as the person receiving the income is the majority shareholder of the company and that the company is not involved in commercial or industrial activities.
- You must be able to obtain permanent residence within 45 days.

Last Updated on Monday, 21 March 2011 16:28