In 2007, the World Tourism Organization designated the Dominican Republic as “The nation with the greatest potential in tourism within the Caribbean area” (Dominicana on Line, 2008). The country has advantages in terms of hotel capacity and foreign direct investment, which has favored the development of the destination’s infrastructure.
The Dominican Republic has an investment framework, as well as laws for specific sectors. The general principle of these laws is that foreign investors and domestic investors hold the same rights and obligations in terms of investment.
The country has a legal system composed of incentives and tax benefits to promote tourism development. Individuals or legal entities that invest with promoters or developers in tourism projects may deduct from their net taxable income the amount of their investments.
Our firm has broad experience in representing foreign clients and investors in the acquisition of properties and tourism projects.