General Overview. Even though the Dominican Republic is not a classical offshore jurisdiction and is often not considered as such, it however offers a lot of advantageous business opportunities, due to its taxation regime which is based on the territorial principle. The fact that the Dominican Republic is not considered as an offshore jurisdiction may be a decisive element for many entrepreneurs and investors who wish to establish and conduct their business in a non-offshore country at the same time having advantageous business management conditions.

Residency and Citizenship. Due to a territorial taxation principle, it is advantageous to become residents in the Dominican Republic. In order to achieve this goal, the government’s requirements are precise and comparatively easy to fulfill. Physical presence in the Dominican Republic is a must for obtaining residency. A resident may obtain a passport of the Dominican Republic by passing a naturalization exam after two years.

Banks. Interests which banks of the Dominican Republic pay their clients are generally among the highest of the region, and they are free from any tax. Therefore opening an offshore bank account in the Dominican republic may be a good alternative to classical offshore banking jurisdictions.