Tentmaker Reports

Dominican Republic Report

Entrepreneurial Missions Index

46.52

General Information

Population

9,927,320 (81st most populous country in the world)

RELIGIONS
Roman Catholic95%
Other5%
LANGUAGES
Spanish

Industries

Tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Dominican Republic, visit https://www.cia.gov/library/publications/the-world-factbook/geos/do.html.

Business Information

The World Bank ranks Dominican Republic as 105 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Dominican Republic.

In order to start a business in Dominican Republic, one must follow these procedures:

  1. Check company name and purchase it online
  2. Arrange for the publication of the company name in the monthly publication of the National Office of Industrial Property (Oficina Nacional de la Propiedad Industrial)
  3. Notarize a sworn declaration of subscription of shares
  4. Payment of incorporation tax
  5. Register the company and obtain the identification (RNC) number online
  6. File for the National Taxpayers Registry at the Internal Revenue Service (DGII) and apply for fiscal receipts
  7. Register local employees with the Department of Labor
  8. Register employees at the main social security office (Consejo Nacional de Seguridad Social, CNSS)

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Dominican Republic, visit http://www.doingbusiness.org/.

 

To learn more...

 

Dominican Republic Economic Freedom

The World Economic Forum (WEF) was founded in 1971 by Klaus Martin Schwab at the University of Geneva in Switzerland.  It is a non-profit foundation best known for its annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss both economic and social issues facing the world.  The WEF also serves as a think tank, and publishes a wide range of reports focusing on issues of concern and importance to Forum communities. In particular, Strategic Insight Teams focus on producing reports of relevance in the fields of competitiveness, global risks and scenario thinking.  The Global Competitiveness Report measures competitiveness of countries and economic competitiveness among a wide range of factors such as corruption, tax rates, work ethic, and many others.
 

Dominican Republic Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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