Dominican Republic PDF Print E-mail
Written by Offshore-World   
Monday, 21 April 2008
Real Estate Ads Articles  WebLinks

The Dominican Republic is a nation located in the Caribbean region on the island of Hispaniola. Part of the Greater Antilles archipelago, Hispaniola lies west of Puerto Rico and east of Cuba and Jamaica. Its western third is the nation of Haiti, making Hispaniola one of two Caribbean islandsthat are occupied by two countries, Saint Martin being the other.  The population of Dominican Republic in2008 was estimated by the United Nations at 9,905,000. The country is a tropical, maritime nation.

 Wet season is from May to November, and periodichurricanes between June and November. Most rain falls in the northern and eastern regions. The average rainfall is 1346 mm, with extremes of 2500 mm int he northeast and 500 mm in the west. The main annual temperature ranges from21 °C in the mountainous regions to 25 °C on the plains and the coast. Theaverage temperature in Santo Domingo in January is 25 °C and 30 °C in July.Nonetheless, the highest mountaintops are covered in pine forests and have temperaturesthat can go several degrees below freezing during winter nights.

The Dominican Republic has enjoyed strong economic growth since 2005, with double digit growth in 2006. In 2007, exports were bolstered by the nearly 50% increase in nickel prices.

Although the country has long been viewed primarily as an exporter of sugar, coffee, and tobacco (Dominican Puros or cigars), in recent years the service sector has overtaken agriculture as theeconomy's largest employer due to growth in tourism and free trade zones. The economy is highly dependent upon the US, the source of nearly three quarters of exports, while remittances represent about a tenth of GDP, equivalent to almosthalf of exports and three-quarters of tourism receipts.

Although the economy isg rowing at a respectable rate, high unemployment and underemployment remains animportant challenge. The country suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GNP, while the richest 10% enjoys nearly 40% of national income. The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, whichshould boost investment and exports and diminishes losses to the Asian garmentindustry.

Foreigners may purchase property almost without restriction in the Dominican Republic. Non-residents can acquire property up to one acre (4,046 sq. m) forresidential purposes, and up to three acres (12,140 sq. m) for commercial use. Only those who plan to buy more need to obtain an Alien Landholding License.

Real Estate in Dominican Republic

Incorporating a Business in the Dominican Republic

Express Divorce in the Dominican Republic

Residence in the Dominican Republic

Living in the Dominican Republic: Puerto Plata, Sosua and Cabarete

More Dominican Republic links and resources

Last Updated ( Monday, 06 October 2008 )
 
< Prev   Next >
You are here  :Home