Saturday, October 31, 2015

Dominican Republic's free zone: Do you know what that is?

Background on Dominican Republic's free zone industry

With the purpose of attracting foreign investment in order to increase levels of employment and foreign currency in the country, in 1970 the Dominican Republic established a legal regimen of extra-territoriality by means of which companies that are set up in a specific geographic territory declared as an "industrial free zone" and surrounded by insurmountable walls, are exempt from the payment of taxes on the profits they generate.