Some Quick Facts:| Area: | 48.730 sq.km |
| Population: | 9.2 Mio |
| Time zone: | GMT - 5 hour |
| Electricity: | 110 Volt |
| Prefix: | 001809 or 001829 |
| Currency: | Dominican Peso DOP |
| 1 Euro | approx. 49.6 DOP |
| 1 Dollar US | approx. 33.8 DOP |
| 1 Pounds | approx. 66.9 DOP |
Main Cities:
Santo Domingo; Cap. (2,1Mio)
Santiago (0,5Mio)
Airports:
Santo Domingo 2 Int.
Some others
Harbours:
Santo Domingo
Many others
From Past to Present
Today the Dominican Republic is located on the eastern two thirds of the island Hispanola, the second largest island in the Caribbean. The other part is Haiti. In 1492 it was discovered and claimed for Spain in 1492 by Christopher Columbus, during his first voyage. Further on the island became the major base for launching the Spanish conquest of the Caribbean and the American mainland.
In the following centuries, the island went through hard and troubled times. The original inhabitants, the Arawak, were killed and destroyed by slavery and diseases and finally extinct. The whole island stayed under Spanish government until the 17.th century, when finally the French managed to establish a colony and the island was divided.
In 1844 the Dominican Republic became, after some times of unrest and war, totally independent and for the next 134 years it was ruled by various dictators. Democracy was introduced in 1978 and the Dominican Republic became a real "Republic" with a free elected government and an honest law-system. Today the country is divided into 30 provinces and the capital Santo Domingo is the oldest city in the "New World".
Nowadays, the Dominican Republic is one of the most popular tourist destinations in the Caribbean and one of the fastest growing economies in the western hemisphere.
Geography and Climate
The Dominican Republic is located on the island Hispaniola. The natural border to the North is the Atlantic Ocean, to the South the Caribbean Sea. The border to Haiti is around 360 km long. The terrain shows many variations, but consists mainly of rugged highlands and fertile valleys and the elevations reach from 46 meters below sea level at Lago Enriquillo to a height of 3.175 meters at the Pico Duarte, the highest point of the island.
More than 31 per cent of the island are actually dedicated as Nature Park. The coastline is 1633 kilometres long, with plenty of white sandy beaches. These beaches are the reason for the amazing increase in Tourism.
The climate of the Dominican Republic is a tropical maritime climate, with warm temperatures throughout the whole year. "Endless Summer" would be the correct term to describe the climate-conditions of the Dominican Republic. The variations between summer and winter are minimal, even in winter the temperatures climb up to 28 degrees Celsius. The main differences are only during the night, when the temperatures in winter can drop, in high regions, to below 5 degrees. Still, the European winter is the preferred season for tourism, because it is still warm and humidity is low.
Economical Facts
The GDP in the Dominican Republic is growing strongly over the last few years, some years even in double digits. The country is no longer just an exporter of coffee, sugar and tobacco. The first time in history of the Dominican Republic there are more people working in the service sector than in agriculture. The free trade zones and a staggering increase in Tourism are responsible for this change.
The most important partner is the USA, but the tourism originating from Europe is increasing impressively. With strict fiscal targets since 2004, the country's financial situation became more and more stable and the inflation is now steadily below 6 per cent and still dropping.
Overall the economy is growing tremendously and at a respectable rate - with absolutely no end in sight. The "Central America - Dominican Republic Free Trade Agreement", signed in March 2007 will give another boost to exports and investments.
Real Estate Facts
An own property in the Caribbean - a private home on the beach or an apartment with ocean-view - would this not be a dream come true? For most people??
Now there is a realistic possibility to fulfil this dream - the Dominican Republic. Properties on the beach, near a golf-course or with sea-view are considerably cheaper than similar properties in Europe or the USA. 2 bedroom apartments in nice positions are starting at a price of 40. 000 to 50.000 Euro and the potential for an increase in value is excellent, because the Dominican Republic is a rather new destination for real estate investment and there is no end of the boom in sight.
The law makes buying and using a property in the Dominican Republic through foreign nationals very easy. There are no prohibitions blocking the purchase through foreigners and any income through renting out is absolutely free of tax. The registration of a property is absolutely safe and residential permits can be obtained very simple. A personal capital tax does not exist and the money and currency transfer to other countries is unrestricted. Furthermore, the banking secrecy is absolute, guaranteed and respected. And the tax burden when buying property is also low: All included it is below 6 per cent.
The Dominican Republic - probably at the moment the nicest spot on earth to invest money!