Dominican Republic Free Trade Zone:
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Just think about starting a business in the Dominican Republic...
The Dominican Republic Free Zone was created to attract foreign investment. It offers a number of major incentives through tax, tariff and cost savings to those starting a business or setting up new operations or facilities in the Dominican Republic.
Typically a Free Zone would attract businesses involved in light manufacturing or assembly of 'hard goods'. It is also more frequently becoming the case that service operations such as call-centres and other administrative activities are recognising the considerable tax benefits offered by the Dominican Republic Free Zone.
One of the World's Top Five!
The Dominican Republic Free Zone offers particular advantages to those starting a business compared with other similar Zones. In fact it has been identified as being one of the world's top five current Free Zone opportunities.
This accolade has been awarded not only because the Dominican Republic is geographically close to the USA, but also because it has trade agreements with both the US and the European Union. This means, for instance, that on goods exported to European markets duties are reduced or even zero.
A summary of advantages offered by Free Zones:
In the case of the Dominican Republic Free Zone some of the particular benefits for anyone starting a business include exemption from:
This exemption operates from the day that production/operation commences and applies for a 15 year, renewable, period!
If the business need to import:
Import duties on all these items are also waived for operations established in the Dominican Republic Free Zone.
Even More Reasons to Start a Business in the D.R.!
It is also the case that the day-to-day running costs of an operation within the Free Zone will be much more economical than in many a company's 'home country'. If you are interested in setting up a Free Zone operation you will find leasehold costs, for example, (especially within Government owned compounds) are very reasonable. Utility and power charges and other running costs are also economical.
Another attractive aspect for many people considering starting a business operation within the Dominican Republic Free Zone are the relatively low labour costs. Even though there are minimum wage levels for Free Zone workers that have been established by the Government they are still well below those in the more developed countries of the western world.
We will be adding further advice and useful contacts for anyone thinking of moving a business to, or starting a business in, the Dominican Republic.
Meantime, if you are checking out our pages and we don't yet include the information you want just contact us with your query and we'll try to provide any information we have within 72 hours*.
Ruth, Al & Esther
(* - NOTE: SEP 2006: Due to an increasing number of queries/demands there may be a longer delay before we can get back to you. If your query is of a time limited nature let us know so we can prioritise it appropriately, thank you.)
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