Dominican Real Estate

2009-09-21T09:41:00.000-07:00

Steps involved in a purchase in the Dominican Republic

• Preliminary Steps: Real estate purchases in the Dominican Republic do not usually follow the North American pattern of a written offer tendered by the buyer to the seller, followed by the sellers written acceptance. Instead, after verbal agreement is reached by the buyer and seller on the price, a binding Promise of Sale is prepared by an attorney (solicitor) or notary public which is signed by both parties. (Notaries in the Dominican Republic are required to have a law degree.)

Because of certain peculiarities of Dominican Real Estate Law, it is recommended that the prospective buyer retain a real estate attorney (solicitor) before signing any documents or making a deposit. Depending on the wishes of the parties, the attorney (solicitor) may proceed with the due diligence first, before preparing the Promise of Sale, or alternatively, prepare the Promise of Sale first, conditioning the purchase to the results of the due diligence to be done in a specified term.

• Promise of Sale: This is a formal document, binding on both parties, and signed by them in the presence of a Notary Public. From a practical point of view, it is more important than the Deed of Sale, since it generally contains a complete and detailed description of the entire transaction up to the time when the purchase price has been paid in full and the property is ready to be conveyed to the buyer. A well-drafted Promise of Sale should contain at least the following provisions:

(a) Full name and particulars of the parties. If the seller is married, the spouse must also sign.
(b) Legal description of the property to be purchased.
(c) Purchase price and payment terms.
(d) Default clause.
(e) Date of delivery of the property.
(f) Due diligence required or done.
(g) Representations by the seller and remedies in case of misrepresentation.
(h) Obligation by seller of signing the Deed of Sale upon receipt of final payment.

Many attorneys (solicitors) and notaries in the Dominican Republic do not protect the buyer adequately in the Promise of Sale. Among the most common deficiencies are the following:

(a) The buyer is allowed to pay a large percentage of the price of sale without any security or direct interest over the property. In case of misuse of these funds, the buyer's remedies may be limited to suing the seller personally. Many condo buyers in Santo Domingo have suffered through this experience in the last few years. Generally, the developer uses the buyers’ funds, along with a bank loan, to finance the construction. The bank collaterizes the loan with a mortgage on the property. If the developer runs into financial difficulties or misappropriates the funds, the bank forecloses and the buyers lose both their money and Atheir@ property.

(b) Payments are not conditioned on the availability of clear title or the adequate progress of construction. Sellers, therefore, may demand payment or place the buyer in default without performing their own basic obligations.

• Deed of Sale (Contrato de Venta): This is also a formal document binding on both parties, and signed by them in the presence of a Notary Public. It is used primarily for the purpose of conveying the property from the seller to the buyer.

In case of a cash purchase, it is simpler and cheaper to go directly from verbal negotiations to the signing of a (Contrato de Venta), instead of taking the preliminary step of signing a Promise of Sale.

• Determination and Payment of Transfer and Registry Taxes: The authenticated Deed of Sale is taken to the nearest Internal Revenue Office where a request is made for the appraisal of the property. The Internal Revenue Office checks if the seller is in compliance with his tax obligations and selects an inspector to do the appraisal. The determination of the amount of taxes to be paid may take a few days or weeks, depending on the availability of the property inspector.

• Filing at the Registry of Title: Once the property has been appraised and taxes paid, the Deed of Sale and the Certificate of Title of the seller are deposited, along with the documentation provided by Internal Revenue, at the Title Registry Office for the jurisdiction where the property is located.

• Certificate of Title: At the Title Registry Office, the sale is recorded and a new Certificate of Title is issued in the name of the buyer. The property belongs to the buyer from the time the sale is recorded at the Registry. The time for the issuance of the new Certificate of Title may vary from a few days to a few months depending on the Title Registry Office where the sale was recorded.

Due Diligence

Many attorneys (solicitors) in the Dominican Republic do not perform the required due diligence on real estate transactions, limiting themselves in many cases to obtaining a certification on the status of the property from the Title Registry Office. It often happens that the real estate agent and/or the seller pressure the buyer into a hurried closing despite the advice of legal counsel.

To start the due diligence, the seller should provide the buyer or the attorney with the following documents:

• Copy of the Certificate of Title to the property.

• Copy of the official survey to the property or plat plan. Under the new Property Registry Law, the sale of properties without a government-approved plot (Adeslinde@) cannot be recorded at the Registry, except in the following cases: (1) Sales executed before April 4, 2007, which may be recorded during a two-year period ending on April 4, 2009, and (2) Sales of the entire property executed after April 4, 2007 (sales of portions are not allowed), for just one time.

• Copy of his or her identification card (ACédula@) or Passport and that of the spouse, if married.

• Copy of the receipt showing the last property tax payment (IPI) or copy of the certificate stating that the property is exempt from property tax, and certification from the Internal Revenue Office showing the seller is current with his or her tax obligations.

If the seller is a corporation:

• Copy of the corporate documentation, including bylaws, up-to-date registration at the Mercantile Registry and resolution authorizing the sale.
• Certification from the Internal Revenue Office showing the corporation is current with its tax obligations, specially Income Tax and Tax on Assets.

If the property is part of a condominium:

• Copy of the condominium declaration.
• Copy of the condominium regulations.
• Copy of the approved construction plans.
• Certification from the condominium administration showing the seller is current with his or her condo dues.
• Copies of the minutes of the last three condominium meetings.

If the property is a house:

• Copy of the approved construction plans.
• Inventory of furniture, etc.
• Copies of the utilities contracts and receipts showing that the seller is current.

Once the documentation listed above is obtained, the attorney should address every item on the following checklist:

• Title Search: A certification should be obtained from the appropriate Title Registry Office regarding the status of the property, stating who the owner is and whether any mortgages, liens or encumbrances affect it. The buyer should insist that his or her attorney confirm the results of the Registrar=s search by investigating the pertinent files at the Title Registry Office.

• Survey: An independent surveyor should verify that the property to be sold coincides with the one shown on the survey presented by the seller except when the property is located in a previously inspected subdivision. Cases have occurred in which a buyer acquires title over a property some distance away from the one he or she believes to be purchasing due to careless work by a previous surveyor or to fraud by the seller. The survey should be checked even when the seller provides a government-approved plat.

• Inspection of Improvements: A qualified builder or architect should examine any improvements to be sold (house, condo) to confirm that the plans presented are correct and that the improvements are in good condition.

• Permits: The attorney should confirm that the property to be purchased may be used for the purposes sought by the buyer. There are many legal restrictions which should be taken into account before purchasing. For example, Law 305 of 1968 establishes a 60-meter Amaritime zone along the entire Dominican coastline, measured from the high tide mark inland, which in effect converts all beaches into public property. No building is allowed within the maritime zone without a special permit from the Executive Branch. Also, in tourist areas, there are building restrictions administered by the Ministry of Tourism.

• Possession: The attorney should check that the seller is in possession of the property. It should be ensured that no squatters rights of any kind exist. Special precautions should be taken with unfenced properties outside known subdivisions. Fencing them before closing is advisable. If there are tenants on the property, the buyer should be informed that Dominican law is protective of a tenant=s rights and that evicting a recalcitrant tenant is time-consuming and expensive.

• Employees: The seller should pay any employees working on the property their legal severance, otherwise the buyer may find himself liable for the payment later.

• Utilities: The attorney or buyer should check that the seller does not have any utility bills pending by enquiring at the appropriate power distributor, water, cable and telephone companies.

Taxes and Expenses on Property Transfers

Taxes must be paid before filing the purchase at the Title Registry Office. Taxes and expenses on the conveyance of real estate are approximately 3.5% of the government-appraised value of the property, as follows:

• 3% Transfer Tax (Law # 288-04)
• Minor expenses such as cost of certified check required to pay taxes to Internal Revenue, sundry stamps and tips at the Registry.

Taxes are paid based on the market value of the property as determined by the tax authorities, not on the price of purchase stated in the deed of sale.

Buyers wishing to lessen the impact of transfer taxes have the option of using a loophole in the law which allows the contribution in kind of property into corporations without paying transfer taxes. For this, cooperation from the seller is essential.

Property Taxes in the DR

Properties held in the name of an individual are subject to an annual property tax ("IPI") of 1% of government-appraised value in excess of RD$5,000,000 pesos except for unbuilt lots or farms outside city limits and properties whose owner is 65 years old or older, who has registered it in his or her name for more than 15 years and has no other property.

If the property is held by a corporation, no property tax is due. Instead, the corporation must pay a 1% tax on corporate assets. However, any income tax paid by the corporation will constitute a credit toward the tax on assets, so that if corporate income taxes paid are equal to or higher than the taxes on assets due, the corporation will have no obligation to pay taxes on its assets.

Title Insurance

In the Dominican Republic, as in many Latin American and European countries, the government provides title insurance. The old Land Registry Law established an indemnity fund with which to pay claimants who due, for example, to an error of the Registrar, were deprived of their property. Unfortunately, the funds collected were used by the government for other purposes.

The Property Registry Law in effect since April 4, 2007, has created a new 2% tax on all conveyances in order to establish an indemnity fund. It is also possible to obtain title insurance from private insurers.

Purchase of Real Estate by Foreigners

There are no restrictions on foreigners purchasing real property in the Dominican Republic. Formerly, Decree 2543 of March 22, 1945 and its amendments required that foreigners obtain prior Presidential approval except in certain cases. Decree 21-98 of January 8, 1998 abolished this regulation and established as the only requirement that the Title Registry Offices keep a record, for statistical purposes, of all purchases made by foreigners.

Inheritance of Real Estate by Foreigners

There are no restrictions on foreigners inheriting title to real property in the Dominican Republic. Inheritance taxes have been recently lowered to 3% of the appraised value of the estate. If the beneficiary resides outside the Dominican Republic, inheritance taxes are subject to a 50% surcharge, raising the tax rate to 4.5%.

Inheritance of real estate is governed by Dominican law which provides for Aforced heirship: part of the inheritance must go to certain heirs by law. For example, a foreigner with a child must reserve 50% of the estate to that child despite the existence of a will or of the law of his country of residence. To avoid the application of Dominican rules of inheritance to the estate, it is advisable for foreigners to hold real estate indirectly through a holding company.

2009-09-16T07:04:00.000-07:00

Investment opportunities in the Dominican Republic and Trinidad and Tobago

Trinidad and Tobago Minister of Trade Mariano Browne urged the private sectors of Dominican Republic and his country to continue embracing the opportunities in trade and investment.

During his speech at a two-day business forum between the two nations at the Hilton Trinidad, Browne ointed out there are opportunities for trade and investment between Trinidad and Tobago and the Dominican Republic, outside the energy sector.

He said Trinidad and Tobago enjoyed a record 15 years of economic growth and was only now experiencing an economic slowdown. He also mentioned exports to the Dominican Republic expanded by 105.5 per cent over the past seven years but were largely dependent on the energy sector.

"We are transforming Trinidad Tobago into a regional hub for business and trade by enhancing the business environment, promoting investment and of course, seeking market access and key partnerships with our regional colleagues, like the Dominican Republic," Browne stated.

2009-09-16T06:59:00.000-07:00

Dominican Republic 86th place out of 183 world economy ranking

The World Bank published the Doing Business 2010 report which ranks the Dominican Republic in 86th place, out of 183 economies, climbing 16 places, up from 102 in the 2009 report.

According to Maria Victoria Abreu, of the National Competitiveness Council (CNC), the difference was made by the new Corporation Law (No. 479-08) promoted by the CNC. The new law calls for new modern corporate structures as well as significantly easing company formation, Abreu stated.

Between June 2008 and May 2009, 287 reforms were recorded in 131 economies, 20% more than the year before. Reformers focused on making it easier to start and operate a business, strengthening property rights and improving the efficiency of commercial dispute resolution and bankruptcy procedures.

2009-07-08T06:06:00.000-07:00

Dominican Republic is the world’s 2nd happiest country

The world’s happiest country, followed by Dominican Republic, according to a report on happiness and satisfaction with life by a British organization, which evaluated 143 countries that gather 99% of the planet’s population, affirmed the Costa Rican press Saturday.

In Costa Rica, 85% of those consulted stated their feeling "satisfactorily happy in this country," Central America’s most prosperous and politically stable, according to newspaper La Nacion, which published the British organization The New Economics Foundation’s happiness index.
“Dominican Republic occupies second place, followed by Australia, whereas the United States ranked 114th and Zimbabue in last (143)," the newspaper said.

In the previous report in 2006, Costa Rica occupied second place, after Vanuatu, a Pacific archipelago.

The index measured three variables: life expectancy when born, satisfaction level expresses by the inhabitants and the ecological practices of each country.

“In Costa Rica, life expectancy when born is 78.5 years; 85% of the Costa Ricans surveyed said they are happy and being satisfied with their life, and the country is close to reaching a balance between what’s consumed and what the natural resources offer," said Nic Mars, one of the report’s authors.

2009-05-19T08:53:00.000-07:00

Opportunities for all

Real estate in the Dominican Republic offers many opportunities, if we advantage of them, this sector can have a very positive effect on the country’s development and the quality of live of its entire population

The tourism industry is one of the most important pillars that support boost and diversify the country’s economic development. With an increase of 9.9% registered in 2006, this industry’s growth seems well on its way. However, the country now has its eyes on real estate as a means to complement the traditional passenger sector. The goal is to become one of the most important real estate tourism destinations worldwide.

Catalyst of multiple benefits

Real estate has a tremendous impact on different areas of our economy, such as construction, agriculture, manufacturing, business, tourism related activities, and other innovative services like health centers, spas and investments from pension funds. In addition, in indirectly benefits other industries by using products like dairy, plastic, paper, furniture, lingerie, home décor, arts, crafts, restaurants, bus transportation, tour agencies, entertainment and cultural events, shopping centers, clinics and much more.

All activities related to real estate create thousands of direct and indirect jobs in formerly stagnant communities, thus helping improve the quality of life of its population and distributing many benefits to the general economy.

Furthermore, the sector makes a significant contribution to the country’s income, strengthening our balance sheet.

Tangible results

An investment in real estate is very profitable, which is why investors find it so attractive, especially foreigners.

This year alone, internationally renowned projects have sold more than US$1,500 million. Their success helps strengthen the county’s image, not only as a tourism destination but also as a center for real estate.

2009-05-19T07:53:00.000-07:00

TOURISM INCENTIVE WITH TAX BENEFITS (LAW 158-01)

Object of this Law Article 1. The Law for Promoting Tourism Development is hereby established for scarcely developed tourist destinations and new destinations in provinces and locations having great potential; as well as the Official Fund for Tourism Promotion.

Paragraph I. The purpose of this law is to increase the pace of a rational process of development of the tourist industry in regions with great potential or with excellent natural conditions for tourism exploitation throughout the country, which, whether or not declared as tourist destinations, have not reached to this date the expected degree of development, and which are listed below:
1. Tourist Destination No. 4, Jarabacoa and Constanza, (Decrees Nº1157, of July 31, 1975; and Nº 2729, of September 2, 1977);
2. Tourist Destination IV, expanded: Barahona, Bahoruco, Independencia and Pedernales (Decree No.322-91, dated August 21, 1991);
3. Tourist Destination V, expanded: Montecristi, Dajabon, Santiago Rodríguez and Valverde (Decree No.16-93, of January 22, 1993);
4. Tourist Destination VIII, expanded, comprising the province of San Cristobal and the municipality of Palenque, as well as the provinces of Peravia and Azua de Compostela;
5. Tourist Destination comprising the municipalities of Nagua and Cabrera (Decree 199-99);
6. Tourist Destination of Samana Province (Decree No.91-94, dated March 31, 1994);
7. The province of Hato Mayor and its municipalities; El Seybo Province and its municipalities; the province of San Pedro de Macorís and its municipalities; Espaillat Province and its municipalities Higüerito, Jose Contreras, Villa Trina and Jamao al Norte; the provinces of Sanchez Ramirez and Monseñor Nouel; the municipality of San Jose de Las Matas; the province of Monte Plata; Guaigui, La Vega and Puerto Plata.

Paragraph II. For this purpose, this law and its regulations establish the incentives to be given as stimulus to projects and investments pursuing the aforementioned goals and objectives.

Paragraph III. The tourist destinations of Puerto Plata or Costa de Ambar, Santo Domingo, and others that may have benefited from incentives in hotel installations, shall only benefit presently from the complementary offers established in article 3, excepting numeral 1 regarding hotel installations, resorts and/or hotel complexes.

PURPOSE OF INCENTIVES

Article 2. All persons or entities domiciled in the country undertaking, promoting or investing capitals in any of the activities set forth in article 3 and in the tourist destinations and/or provinces and/or municipalities mentioned in the preceding article may benefit from the incentives and benefits granted by this law.

Article 3. The establishment in our national territory of businesses engaged in the tourist activities listed below are hereby declared of special interest to the Dominican Republic:

1. Hotel facilities, resorts and/or hotel complexes;
2. Building facilities for conventions, fairs, international conventions, festivals, shows and concerts;
3. Businesses engaged in the promotion of cruises establishing any of the ports specified in this law as their mother port for the origin and final destination of their ships;
4. Construction and operation of amusement parks and/or ecological parks, and/or theme parks; 5. Construction and/or operation of port and maritime infrastructure for tourism, such as recreational ports and seaports;
6. Construction and/or operation of tourist infrastructures, such as aquariums, restaurants, golf courses, sports facilities, and any other that may qualify as a tourist activity.
7. Small- and medium-sized businesses whose market is fundamentally related to tourism (handcrafts, ornamental plants, tropical fish, endemic reptiles farms and the like);
8. Utility-infrastructure companies for the tourist industry, such as aqueducts, treatment plants, environmental cleaning, and garbage and solid waste removal.

INCENTIVES AND BENEFITS GRANTED BY THIS LAW

Article. 4. Businesses domiciled in the country and qualifying for the incentives and benefits established in this law are exempted one hundred percent (100%) from paying the taxes:

1. The income tax subject to incentives under article 2 hereof;
2. National and municipal taxes levied on the use and issuance of construction permits, including land purchase documents, provided that such land is used for one of the purposes described in article 3 hereof;
3. Import duties and other taxes, such as tariffs, fees, late charges, including the Tax on Transfer of Industrial Goods and Services (ITBIS) that are applicable to the equipments, materials and furnishings needed for initially equipping and putting into operation the tourist resort concerned.

Paragraph I. National and international funding given to such companies as are the subject of these incentives, as well as any interest thereon, are exempted from all taxes and withholdings; Paragraph II. Natural persons or bodies corporate may deduct up to twenty percent (20%) of their annual profits, provided that the same are invested in a tourist resort within the scope of this law;
Paragraph III. Full and absolute tax exemption shall be granted in connection with the machinery and equipment needed to achieve a high quality profile of products (including kilns, incubators, production control treatment plants, and laboratories), at the time of establishing the tourist project.
Article 5. No new taxes, tariffs, fees, etc. shall be established during the tax-exemption period. Article 6. The incentives and benefits referred to herein shall be strictly limited to new projects whose construction is started after the enactment of this law.

EXEMPTION PERIOD

Article 7.- The tax-exemption period for every tourist resort, business or company shall be ten (10) years from the date of completion of the construction work and the furnishing of the project subject of these incentives. A term not exceeding three (3) years shall be provided to begin the sustained and uninterrupted operation of the resort approved, the nonobservance of which shall result in the immediate loss of the exemption rights acquired.

Article 8.- A Council on Tourism Development (Consejo de Fomento Turístico-CONFOTUR) shall be in charge of applying this law. Such council shall be presided by the Secretary of State of
Tourism, and shall include:
1. A representative from the Ministry of Finance;

2. A representative of the National Association of Hotels and Restaurants, Inc. (Asociación Nacional de Hoteles y Restaurantes, Inc. [ASONAHORES]);

3. A representative of Tourist Operators (OPERTUR);

4. A representative of the Technical Undersecretariat of Tourism, who shall act as Secretary;

5. A renowned environmentalist (ecologist), chosen by the Ministry of the Environment.

6. A representative of the Ministry of Culture.

Article 9.- All applications for qualification under this law shall be filed at the Ministry of Tourism, which shall keep a record of such applications in such manner as established by CONFOTUR regulations.
Article 10.- All applications submitted to the Council for Tourism Development should be either approved or rejected, giving reasonable arguments therefor, within a period of time not exceeding sixty (60) days in all.

Article 11.- The qualification applications approved by CONFOTUR shall be the subject of a resolution containing a statement of the technical and financial characteristics on which such decision was based.

Article 12. The Ministry of Tourism shall see to the faithful observation of the provisions herein established, by means of inspectors, who, duly authorized, may conduct inspections in the entire area in the zone and, in the event of an infraction of the law, of its regulations or of all regulations in this respect, shall write a statement in connection thereto, the contents of which shall be considered as evidence until proven otherwise. Paragraph.- The Ministry of Tourism shall submit such statements of infractions to the Attorney General of the Republic, who shall in turn send them to the appropriate District Attorney.

Article 13.- Any violation of this law by individuals or bodies corporate, shall result automatically in the loss of the incentives, and in the obligation to pay all monies not paid under this law.

REQUIREMENTS FOR SUBMITTING APPLICATIONS

Article 14.- All new projects applying for the incentives and benefits created hereby should be drawn up and submitted together with the following documents:

1. An environmental impact study considering the type of project, the infrastructures required, the impact zone and the sensitivity of the area. Projects requiring minor tourist infrastructures shall be exempted from submitting an environmental impact study;

2. An architectural proposal, as well as the preliminary engineering details for such project, prepared by a professional or a renowned professional firm of capable Dominican professionals licensed to practice their profession. Any consultancy, advice or participation by foreign specialists in the development of the preliminary architectural or engineering studies, or in subsequent stages of project development, shall be in all cases made through a local professional firm or a firm duly authorized to practice such profession, which shall be in charge of and legally responsible for such development;

3. Those projects that anticipate handling large volumes of fuel and/or involve an intensive traffic of vessels should be accompanied by a contingency plan to prevent and control oil spills.

Paragraph.- All projects should have a preliminary approval of the appropriate urban and municipal planning agencies of the jurisdiction where the projects are to be situated.

Article 15.- Before starting construction, and upon obtaining the required authorizations therefor, all infrastructure projects should submit a bank guarantee to cover all environmental recovery expenses if any damage has been caused to the environment due to negligence of the promoter,

Article 16.- The Ministry of Tourism shall be responsible for guaranteeing that no infrastructure project is approved within protected areas intended for national parks, unless it is proven by means of studies that such project shall not endanger the preservation of the natural resources or the fauna and flora.

SANCTIONS

Article 17.- All businesses established under the incentives and benefits of this law shall guarantee the preservation of all natural resources and the protection of the environment.

Paragraph.- The Ministry of Tourism shall be responsible for guaranteeing that, during the construction and operation of any business established under the benefits of this law, all surrounding natural resources are respected and preserved.

Article 18.-Failure to maintain the level of quality and quantity of services in the category stated during the tax-exemption period, upon notice by the Ministry of Tourism and after expiration of the term given for such purpose, as established by regulations, shall determine the suspension of the incentives and benefits granted.

SPECIALIZATION OF FUNDS FOR TOURISM PROMOTION

Article 19.- With the objectivo of promoting the Dominican Republic more effectively in the international tourist market, and by virtue of the creation under this law of new tourist destinations, the Official Tourist Promotion Fund is hereby established, to be administrated by the Ministry of Tourism with the advice of the private sector, mainly the National Association of Hotels and Restaurants (Asociación Nacional de Hoteles y Restaurantes, Inc. (ASONAHORES), and other institutions from that sector. Such fund shall be managed according to the following provisions:

1. Fifty percent (50%) of all proceeds from the application of the aeronautics tax per passenger transported, at entry and departure, in non-scheduled international or chartered flights, collected by the Department of Civil Aeronautics, shall be applied to the Official Tourism Promotion fund managed by the Ministry of Tourism;

2. The remaining fifty per cent (50%) shall be allotted to the operations fund of the Department of Civil Aeronautics, to be used in specific programs of said office, in order to improve the security of civil aviation in the Dominican Republic;

3. All proceeds from tourist cards in all airports and seaports in this country may be deposited directly, in such percentage as has been established, in the respective accounts of the institutions mentioned in 1 and 2 above.

OTHER PROVISIONS

Article 20.- The Executive Power is given a term of one hundred and twenty (120) days after the enactment of this law, to prepare and publish the regulations pertaining to the same.

Article 21.- The statements herein contained shall prevail over any provision established in previous laws or in administrative measures previously established by the Executive Power.

2009-05-16T06:52:00.000-07:00

Dominican Republic joins the International Renewable Energies Agency

The Dominican Republic today joined the International Renewable Energies Agency (IRENA), which promotes energetic sources such as alternatives to fossil fuels, issue which Foreign Relations minister Carlos Morales called "a new paradigm of the United Nations."

The country became the entity’s 80th member on January 26 in the original conference of Bonn, four months after the preparatory meeting was held in Madrid.

"It’s a fundamental organization for the impulse of renewables, which as well, is one of the new energy paradigms of the set of the United Nations," the Dominican official said when he met in Berlin with his German par, Heinrich Tiemann.

Together with Dominican Republic, Mexico, Guatemala, Honduras, Belize, Panama, Costa Rica and El Salvador among others countries, belong to the agency, which Morales said bolsters the future of the region’s energy development.

IRENA is the fruit of a German initiative, and Spain and Denmark soon joined the agency which promotes renewable energies around the world and helps surmount the obstacles to their development.

2009-05-05T08:07:00.000-07:00

Foreign Investment Law of the Dominican Republic (LAW 16-95)

The Dominican State recognizes that foreign investment and technology transfers contribute to the economic growth and social development of the country insofar as they favor the generation of jobs and foreign currency, promote the process of capitalization and provide efficient production, marketing and management methods;
It is advantageous that investors, whether foreign or national, should have similar rights and obligations in the investment fields;

THE FOLLOWING LAW HAS BEEN GIVEN
Art. 1.- For the purposes of this law on foreign investment, the following shall be understood to be:

a) Direct Foreign Investment:
Contributions originating from abroad, belonging to foreign individuals or corporations or individual nationals residing abroad, to the capital of a company operating in national territory;
b) Foreign Reinvestment:
That foreign investment made in whole or in part from the profits originating from a registered foreign company into the same company that generated them;
c) New Foreign Investment:
Foreign investment made in whole or in part from the profits originating from a duly registered direct foreign investment into a company different from that which generated the profits;
d) Foreign Investor:
The owner of a duly registered foreign investment;
e) National Investment:
That made by the State, municipalities and national corporations domiciled or resident in the National territory, as well as by foreign individuals residing in the national territory that do not meet the conditions for obtaining the certificate of foreign investor;
f) Central Bank:
This is the Central Bank of the Dominican Republic.
Art. 2.- Foreign Investment can assume the following forms:
a) Contributions in freely-convertible currency, exchanged in a banking institution authorized by the Central Bank.
b) Contributions in kind, such as industrial plants, new and re-conditioned machinery, new and re-conditioned equipment, replacements, spare parts and parts, raw material, intermediate products and final goods, as well as intangible technological contributions; and
c) Those financial instruments the Monetary Board relegates to the category of foreign investment, except those that may be the product of contributions or internment of an operation for the re-conversion of the Dominican foreign debt.
PARAGRAPH I: Independently of the investments foreseen in item b) of this article, contracts for technology transfer can be signed with foreign individuals or corporations, such as contracts for the license of technology, for technical assistance, basic and detailed engineering.
PARAGRAPH II: Intangible technological contributions are understood to be funds originating from technology, such as Trademarks, product models or industrial processes or services, technical assistance and technical knowledge, franchise and management assistance. The application regulation of this law shall determine the general framework that will be applied to technology, including those areas in which the capitalization of intangible technological contributions will be allowed.
Art. 3.- Targets of Foreign Investment:
a) Investments in the capital of an existing or new company, as per the provisions contained in the Commercial Code of the Dominican Republic, including the establishment of branch offices, pursuant to the conditions set by the laws.
Foreign Investment in share companies must be represented in nominative shares.
b) Investments in real properties located in the Dominican Republic, with the limitations in effect and applicable to foreigners; and
c) Investments towards the acquisition of financial assets, pursuant to the general norms issued in this area by the monetary authorities.
Art. 4.- Within 90 days of making its investment, any foreign company or investor must register it with the Central Bank of the Dominican Republic. For these purposes, the following documents will be filed:
a) Application for registration, containing all the information relevant to the invested capital and the area in which the investment has been made;
b) Proof of entry into the country of the foreign currency or physical or tangible goods.
c) Formative documents of the commercial corporation or the authorization of the operation of branch offices via the setting of domicile.
PARAGRAPH I: Once the document filing requisites have been met, the Central Bank will issue immediately to the applicant a Registration Certification of Direct Foreign Investment.
PARAGRAPH II: Foreign Re-Investment and New Foreign Investment, described in article 1 of this law, shall also be registered with the Central Bank, meeting the requisites provided by the regulation for applications.
PARAGRAPH III: In the case of companies operating in Industrial Free Zones, the registration and delivery of information shall be made in the National Council of Export Free Zones, which shall have the obligation of communicating this immediately to the Central Bank.
Art. 5.- Foreign Investment will not be allowed in the following categories:
a) Disposal and remains of toxic, dangerous or radioactive garbage not produced in the country;
b) Activities affecting the public health and the environmental equilibrium of the country, pursuant to the norms that apply in this regard; and
c) Production of materials and equipment directly linked to national defense and security, except for an express authorization from the Chief Executive.
PARAGRAPH I: When the Foreign Investment affects the eco-system in its area of influence, the investor must present a proposal with the provisions for recovering the ecological damage it may cause.
PARAGRAPH II: The competent authorities related to the area in question shall have the responsibility for compliance with the provisions contained in this article.
PARAGRAPH III: Foreign investments shall be made in each area of the national economy, pursuant to the conditions and limitations imposed by the laws and regulations governing each one of said areas.
Art. 6.- Investors and the companies or corporations in which foreign investors may participate or be owners, shall have the same rights and obligations that the laws confer upon national investors, save the exceptions foreseen in this law or in special laws.
Art. 7.- The individuals or corporations that make investments defined in article 1 of this law, shall have the right to remit abroad, in freely-convertible currencies, without the need for prior authorization, the total amount of invested capital and the dividends declared during each fiscal period, up to the total amount of the net current profits of the period, upon payment of income tax, including the capital gains made and registered in the books of the company according to generally accepted accounting practices.
They can also repatriate, under the same conditions, the obligations resulting from technical service contracts where fees are established for the purposes of technology transfers and/or contracts for the local manufacture of foreign brands, which include clauses for the payment of royalties ("regalías") as long as said contracts and the amounts or procedures for the payments involved have been previously approved by the Central Bank of the Dominican Republic or an official agency subsequently designated to coordinate, facilitate and supervise everything related to foreign investment.
Art. 8.- Within the following 60 days, the foreign investor must convey to the Central Bank the following:
a) Statement of profits contained in the fiscal year, duly certified by a Certified Public Accountant ("Contador Público Autorizado"), specifying the percentage of said profits that were subject to remittance;
b) Documentary proof of settlement of tax commitments.
Art. 9.- Non-compliance with this obligation will carry the applicable sanctions contained in the law that governs the obligation of supplying information to the Central Bank of the Republic.
The Central Bank must inform the National Congress annually of everything related to the flows of foreign investment in the country.
Art. 10.- Article 12, added to Law 622, of 28 December 1973 to Law 173, of 6 April 1966, is modified, so that hereinafter it reads in the following manner:
"Art. 10.- Foreign individuals and corporations, as well as nationals, can engage in the Dominican Republic in the promotion or handling of the importation, sale, rental or any other kind of marketing or operations of merchandise and products of foreign origin that may be produced abroad or in the country, whether acting as agent, representative, receiver of commissions, exclusive distributor, licensee or under any denomination. However, if the individual or corporation that is to engage in this activity has maintained a commercial relationship with local licensees, he or it must agree to and deliver beforehand and in writing the fair and complete indemnities for the losses and damages produced by such cause, on the basis of the factors and in the manner described in article 3 of this law."
Art. 11.- This law repeals Law Number 861, dated 22 July 1978, and Law No. 138 dated 24 June 1983. In like manner, it repeals item d) of article 3 of Law No. 251 of 11 May 1964 on International Fund Transfers.
Art. 12.- (Transitional). In the case of accumulated profits from previous periods retained as a consequence of the limitations on remittances established by Law No. 861, each company shall have the right to request the approval of a program for gradual repatriation, with a minimum of 5 years for fully effecting it.
The reassessment surpluses registered in the capital accounts of companies that have reassessed their assets will not be regarded as foreign investment for the purposes of repatriation of capital, except when said revaluation profits have been converted into liquid assets for the sale to third parties or parties related to the company.
Art. 13.- This law repeals any other express legal provision contrary to it

2009-05-05T07:18:00.000-07:00

Ten Easy Steps to a Smart Purchase
Follow these 10 steps for a smooth purchase and rest assured your real estate transaction will be protected.

Buying real estate is one of the most important investments a person or company can make.
That is why it’s essential that you take into account several precautions before signing a contract. Our experts recommend the following steps before buying property:

1. Research the Title Certification.

Although the law and government establish conditions of judicial security, we recommend that the buyer or a legal representative examine the document’s authenticity.

2. Check the property’s legal standing.
Consult the legal situation of the property at the Title Registration offices, the Land Court and the General Internal Revenue Directorate (DGII). This simple step will reveal any restrictions, embargoes or outstanding taxes that may interfere with the purchase.

3. Find out where to go for all required procedures.
The office in charge of the property’s legal procedures and investigations will vary depending on its location within the national territory. For instance, if the property is located in Sosúa, the buyer should go to the Title Registration office in the province of Puerto Plata.

4. Hire a lawyer.
Dominican law grants all individuals the right to access the Title Registration offices for real estate information; however, given the complexity of the process and land jurisdiction system, we recommend you hire a local lawyer or land surveyor.

5. Research zoning laws.
The use or development of property may be regulated or limited according to its location. It is very important to examine environmental, urbanization, public embellishment or other municipal regulations.

6. A sk about other related payments.
Find out about all utilities and private services related to the property like maintenance, water, electricity, garbage recollection, cable television, as well as the payment to employees (construction workers and contractors) if you plan to build.

7. Inspect the property.
Once the legal status of the property has cleared, it’s important to examine key factors of its physical condition:
a. Actual appearance.
b. Location.
c. Current use of the property.
d. Size.
e. Boundaries and adjacent properties.

8. Speed up the selling/buying process.
The closing of the real estate transaction can be done more efficiently if both the buyer and seller provide all the documents and information needed on time.

9. Double check the sales/ purchase contract.
Because every sales/ purchase agreement is different (various payment arrangements, participants, subject matter, place where it is signed, selling price, etc.), you must always verify that all the information is clear and accurate.

10. Register your purchase quickly.
It is best to transfer the property immediately after the closing of the transaction. That way you will avoid hassles or even fraud.

2009-05-05T07:02:00.000-07:00

Law and Regulations: Guidelines that Make Better Neighbors

The Condominium Law (number5038) was approved 49 years ago, on November 21, 1958, in a context that was very different to today. However, we don’t currently need a change in the law, but rather the creation of clear and specific regulations for the good relations between co-owners.

Traditionally, property registered under the Condominium law has only complied with the minimum requirements established in its text:

• Provide a description of the apartments or establishments.
• Determine the percentage of common costs.
• Number of votes required for decision-making.

However, in the current context, where the vertical growth of the city more than a reality is a necessity, the Condominium Law takes on renewed importance. It is the moment to create new regulations to the law so that, in an effective and real manner, we can have the adequate mechanisms for the prevention and solution of problems faced everyday by co-owners of these properties.

To this end, we need to reform the Condominium law, since the problems faced by co-owners are not caused by the lack of a legal framework, but to its incorrect application. Law number 5038 creates the action framework in which the parts are free to create their own rules of coexistence, as long as, of course, they fulfill the minimum requirements established by the law.
Under this system, it is perfectly possible to establish the rules in a way that is clear and specific, so that every person interested in investing in a condominium can learn ahead of time the regulations that will rule the daily living conditions.

This means, for example, setting clear aspects such as external aesthetics, security mechanisms, colors, curtain design, garbage pickup service, moving hours, etc.

Golden rules

The law establishes two fundamental principles for the payment of common expenses and compliance to other condominium norms:

• First, the possibility of limiting the use and enjoyment of common areas.
• Second, the enjoyment of privileges by co-owners who are up to date with the payment of common expenses.

Therefore, those co-owners that cover the common expenses of debtors have the right to register for a privilege in their favor over the property of the non-paying co-owner.

Although some could interpret that the application of these principles limits the right over property, we must remember that in every agreement in society the ultimate goal is to make sure that individual rights don’t interfere with the rights (individual or collective) of other people. Unfortunately, in most cases, this goal can only be accomplished through the establishment of punishments that obligate the parts to comply to the agreement.

In this sense, more developers, owners and investors are interested in protecting their rights and investment. They dedicate time and effort to the creation of condominium regulations that adjust to the project and the common interests of co-owners.

This is an example that should be followed, since good condominium guidelines can guarantee the enjoyment of the investment in an environment where it is possible to live in peace and harmony with all co-owners.

2009-04-13T10:53:00.000-07:00

Dominican Republic with endless potencial

Investment in real estate for tourism purposes can have an impressive multiplying effect on the national economy. However, in order to successfully achieve it, we must first overcome the short sighted idea that these constructions merely support tourism.

Our country’s tourism potential is well known. In fact, during the last few years we have witnessed aggressive advertising campaigns publicizing the many virtues of the Dominican Republic.

Countless media cable, television, magazines, airlines, documentaries, surround us with the paradise, like images of our country.

Without a doubt, the industry’s growth is known by even the most absent minded Dominican, since it is currently the motor behind our economy.

However, what happens with the tourism real estate potential?

In the beginning, Dominican businessmen in the home construction industry remained indifferent, even ignorant, to the potential of the real estate business linked to tourism. Undeniable proof of this is that the majority of the projects in the previous decades started with foreign capital.

Probably, the vast majority of these investors came for the first time as tourists and, once in the country, identified a market niche completely unexplored and decided to invest in modest residential projects. That demand grew as the Dominican Republic consolidated as a tourism destination.

Real estate takes off

After those first projects, came the planned communities, which responded to the great demand for rooms generated by the tourism explosion. This became known as the “tourism real estate boom” in many areas, most of them linked to the hotel industry.

The growth of the tourism industry and demand for real estate grew so impressively, that in many areas the price of real estate skyrocketed.

Although late, Dominican businessmen opened their eyes to tourism real estate investment, especially in the eastern part of the country. This alternative played
an important role for the local investor, in light of the economic crisis that the country experienced.

Dominican investment involved not only agents directly linked to the construction industry. Other professionals and experts (builders, carpenters, dentists, salesmen, doctors, bankers, etc.) also took advantage of the trend, creating a highly productive chain of economic benefits.

With time, and due to the profitability and continuous growth of real estate demand, other projects of high investment requirements were conceived and targeted towards a more sophisticated and demanding clientele.

These, in turn, helped modest residential projects increase their value and consolidate the market, for the benefit of the entire population.

The key: planning
The real estate boom is not necessarily 100% positive, since it also generated a rise in non planned constructions.

Unfortunately, today we can see these supposedly residential areas located next to a bar, disco, restaurant or entertainment venue.

This goes to show that the initiatives for zoning in certain communities or areas have failed. However, sectors that support the hotel industry feel these zoning efforts could be enough to mitigate the problems we currently face.

IT IS OUR OPPORTUNITY TO DIVERSIFY PRODUCTS AND INCOME!

The tourism real estate sector is an endless source for people who want to find a second home (not to mention that the Dominican Republic offers countless benefits for whoever chooses to live here).

The Law for Foreign Investment, for example, allows the attainment of fresh capital, which is why it’s important that they be placed not only in products, companies or hotels, for instance and be geared towards other interesting aspects of the business. In this sense, the tourism real estate sector not only offers the multiplying effect of tourism – income, jobs, products, trade, etc., but also moves other sectors, such as construction, exports and financial.

Multiplying effect

When a foreigner buys property in the country, his transaction has a positive effect in many ways. The builder and seller, for example, receive the income from the purchase; the government obtains tax money; the lawyer offers his professional services; home furniture stores sell their stock; jobs are created for maintenance personnel for the homes (gardeners, plumbers, maids); etc.

In addition, when these foreigners spend a season in the country, their stay usually extends for a few months, they shop in local stores, visit entertainment venues, open bank accounts to manage their money and invite friends and family to visit them (some of which may end up buying property too). In other words, if we add what remains in the national economy after just one transaction, we can reach the conclusion that its multiplying effect is vital for the entire population.

For that reason, we are all responsible for not limiting our potential. The tourism real estate sector should not be considered a mere support for tourism, or just construction and exports. This is one of the main motors behind national economy!

It is important to plan, because otherwise we are hindering our potential. If we plan to just support the tourism sector, we are focusing in the tree and loosing sight of the forest. When creating new laws, determining densities, permits, zoning, advertising, incentives, etc. we must take into consideration the needs of the real estate sector can both support tourism and developed on its own.
The sky is our limit! After all… we have endless potential!

2009-04-02T05:26:00.000-07:00

Meeting with the communities of the Dominican Republic

President Leonel Fernandez proposed a strategic alliance between the State and the different sectors from the country to be able successfully to meet the communities social demands.

Speaking at the start of a meeting of his Cabinet gathered in the northern city, the chief executive said the solution to the current problems isn’t just the Government’s responsibility, in reference to the strikes staged in several provinces across country in the last few weeks.

The meeting with senior officials began at 11 a.m. in the Offices of Provincial Governor, where the ministers of the Economy, Temistocles Montas, and of Hacienda, Vicente Bengoa and Taxes director Juan Hernandez of the measures taken to face the affects of the world financial crisis of the country.

The Cabinet has sparked expectations among business leaders who expect the chief executive to announce the restart of construction on several currently stalled works.

2009-03-26T05:44:00.000-07:00

Cut taxes to allow return of Dominican capital

The tax agencies will submit a bill that allows the entrance of capitals that Dominicans hold abroad, by paying only a 1% tax instead of the current 25%.

Hacienda minister Vicente Bengoa and Internal Taxes director Juan Hernandez, made the announcement in a press conference yesterday, where they said the measure aims to make it easy for Dominicans to bring their capitals to invest them here and withdraw them from the international financial sector, where massive bankruptcies have occurred.

Bengoa clarified that the measure implies some conditions, such as that the funds must be deposited in foreign banks and not of doubtful origin, to keep the tax break from being used as a source of money laundering.

He said the suggestion responds to the interest by Dominican businesspersons who’ve expressed their desire to bring their capital abroad, but haven’t done so because of the high taxes they would have to pay.

The legislation would be submitted to Congress as soon as president Leonel Fernandez approves the suggestion.

2009-03-25T06:07:00.000-07:00

Dominican Government submits to reduce taxes

The government submitted to the Senate to reduce taxes:

The first is to deduct all education expenses from income taxes if the students are nonworking minors; the second to lower from 5 percent to 0.5 percent the advance payment companies pay, and the third is to renegotiate mortgage loans with other banks without additional fees.

Hacienda minister Vicente Bengoa, Internal Taxes director Juan Hernandez, and the Presidency’s Legal advisor Abel Rodriguez del Orbe handed the bills to Senate president Reinaldo Pared, who said Congress will give them priority because they benefit the population.

Bengoa said the bills were the result of the dialogues held in the recent national summit and that measures are being adopted that merit Congressional approval.

He said the proposed legislation means a sacrifice of revenues for the government, which it will assume given the international recession and the country’s economic slowdown.
The official added that the measures give companies more liquidity and less need to dismiss more workers.

2009-03-19T05:47:00.000-07:00

"For the country to fail the world would have to fail first,” says, Fernandez

President Leonel Fernandez said in the context of the global financial crisis, even in the worse case scenario, "for the country to fail the world would have to fail first.”

The chief executive said Dominican Republic’s challenge is to maintain economic growth with low inflation, and stability in the exchange rate and external accounts, and affirmed that the Government doesn’t plan to raise taxes.

He said it’s somewhat surprising that in last year’s fourth quarter, inflation was 4.5% from a projected 12%.

On the 2009 projections Fernandez said the Central bank projects a growth of three percent, compared with that of The Economist, which places it at a more moderate 1.0%.

Fernandez spoke on the topic Vision and priorities for the next five years, in the “Table of Businesses in the Dominican Republic, responding to the economic crisis global," organized by the The Economist Group, with the attendance of business leaders, specialists in international business and Government officials.

2009-03-16T06:03:00.000-07:00

Dominican Republic remains in demand for tourism investors

As other hotel markets suffer, planned resorts indicate Dominican Republic remains desirable as Philadelphia-based AMResorts has announced that plans to develop two new luxury resorts at Cap Cana at a cost of US$200 million.

Located on the eastern tip of the Dominican Republic, Cap Cana is a new 30,000-acre Caribbean resort development endeavor. The master planned destination, dotted with premier golf courses, upscale retail options and other amenities, is on target to become home to the Caribbean's largest in-land marina for mega yachts.

AMResorts will build Zoëtry Pearl Sands Cap Cana and Pure Secrets at Cap Cana along beaches within close proximity to the Punta Cana International Airport. The lifestyle property Zoëtry Pearl Sands will, in addition to its upscale accommodations, feature restaurant and entertainment venues, as well as elements focused on feeding visitors' emotional and physical health.

Pure Secrets at Cap Cana will be designed specifically to accommodate adults and couples, and will offer entertainment options and a spa. Both resorts, which will target the affluent set in the U.S., are on schedule to open their doors in 2010.

Statistics reveal that the country's pipeline of ground-up new hotel construction, condo-hotels and real estate conversion projects consists of 16 projects with an aggregate 5,981 rooms.

In terms of Latin American countries with the most hotel construction activity, the Dominican Republic ranks fourth, trailing leader Brazil, followed by Mexico and Argentina.

2009-03-05T04:46:00.000-08:00

Austria Development Bank announces soft, long-term financing for Dominican Republic

To provide a response to the need for funding of projects in developing countries such as Dominican Republic, Austria’s Development Bank, Oesterreichische (OeEB) Entwicklungsbank AG, partners with the private sector to develop businesses and an effective, properly working economy.

“Economies in many developing countries are growing vigorously. Yet large numbers of people there still live in great poverty. What they frequently lack is access to education, to employment and to modern infrastructure,” the enhtity says, citing research published by the OECD’s Development Assistance Committee (DAC). “An economy that is working properly is a crucial factor in fighting poverty.”

It notes that to allow the building and spreading of business expertise, only functioning cycles of economic processes and a prospering private sector create lasting employment and incomes.
“Austria wants to provide special support for the close partnering of business and development cooperation,” it says, for which its support is extended both to activities in Austria and in developing countries.

The OeEB’s says that as part of its government-appointed mission and expertise, its mandate is to facilitate and support private sector projects with development benefits and to effectively advance Austria’s goals for international development and foreign trade, and benefits from the international know-how of the OeKB Group.

The OeEB is a member of European Development Finance Institutions (EDFI), the network of bilateral European development banks, and supports the private sector in developing countries, on commercial terms. “As key criteria, projects must be commercially viable and create lasting benefits for regional economic development.”

The Austrian entity stresses that the market regions it serves are regarded as relatively risky by investors and suppliers. “As a result, tailored financing solutions for a wide range of long-term investments are typically not available in these countries through regular commercial channels, and its special mandate allows OeEB to accept higher of amount, tenor and country risk.”

As to its services the OeEB clarifies that it’s a complement to the respective offerings of the Austrian Development Cooperation of the Foreign Ministry, the Austrian Development Agency (ADA) and the Austrian Ministry of Finance, and can also support projects in countries for which no financing from Austrian partners has been possible in the past.

“The services of OeEB are both subsidiary and complementary to those of the commercial banking sector – in other words, OeEB products fill gaps between the products of the commercial banking sector,” it said, whereas to provide additional support to projects, funds from Austria’s federal budget are earmarked for so-called “Advisory Programs,” with funds aimed at concrete and targeted support for projects that boost development.

2009-02-17T08:26:00.000-08:00

Canadian doctors attend to improve medical services in the Dominican Republic

Canada Doctors of the World, an international charity organization, supports the Municipal Hospital of San Luis, in the outskirts of the capital, improving the medical services for women and infants of its adjacent communities.

The launch of the project “Improving the Health of the Population of San Luis and Adjacent Zones” marks the start of the work in that hospital, including the construction of areas for surgery and a delivery room.

In response to the high demand for health services in this community and at their request, the project “Voluntary Sector Program” was approved and developed by the Canadian International Development Agency (CIDA) and the Government of Quebec (MRI), with a financing of C$650,000 for three years, to benefit more than 50,000 people in different areas, bases in the Hospital San Luis.

Present in the event were International Cooperation secretary America Bastidas; Canada ambassador Patricia Fortier; Doctors of the World president Dr. Nicolas Bergeron, and main director André Bertrand, Country Coordinator Dr. Marie Gessy Richard, and Government, Santo Domingo Province, and San Luis City Council officials.

Also present in the event, which coincides with the Doctors of the World’s 10th Anniversary, were the famous Canadian comedians Natalie Brawn and Suzanne Clément, both appointed the organization’s good will ambassadors, who took part in the tour of the facilities.

Doctors of the World Canada (MdM) is a non-governmental organization whose primary goal is to provide medical assistance and help vulnerable populations in situations of poverty, natural disasters, military crisis and exclusion around the world, and currently develops projects in Canada, Nicaragua, Haiti and Zimbabwe.

2009-02-16T06:05:00.000-08:00

Project to establish how much Dominican property's are worth

The National Cadastre Agency (DGCN) negotiates with two companies, a Spanish and another Israeli, to conduct the first mapping of the entire country’s real estate divisions.

DGCN director Bolivar Marte said the companies would be paid 25 million dollars for the project, that would have to be approved by Congress.

He said the mapping is of great importance, since the country’s real estate includes areas for farming, tourism, commercial and water sources, and in the course of two years all citizens will be able to know “how much the Dominican Republic is worth in each of its areas.”

The Cadastre director said the mapping would help solve the serious problem of land titling, in the sense that each property, regardless its size, will be in a cartographic system in which anyone will be able to see, thanks to satellite communications where a house, a building or a piece of land are located.

Marte said the companies that would conduct the mapping assure that it would be concluded in two years, with minimum errors, and includes an ad campaign in all the media to inform the population about the project.

2009-02-09T07:30:00.000-08:00

Dominican Telecomm builds antenna towers to improve phone service

Dominican Telecomm Institute (Indotel) president Jose Rafael Vargas said the installation of antennas and towers expands the coverage and improves the quality of landline and wireless telephone service across the country.

The official, speaking with community organizations and leaders prior to inaugurating 15 Informatics Training Centers (CCI) in San Juan de la Maguana and Elías Piña, said the facilities contribute to technologically develop this zone.

Vargas, who was recognized by San Juan’s authorities during the activity held in provincial government offices, thanked those present for their support of the official program to provide Internet access of the youngsters and adults.

"If you see many antennas, many towers and many excavations being done everywhere, blame Indotel, we are to blame; it’s the only way we have to solve the communication problem in communities," Vargas said.

2009-02-02T04:37:00.000-08:00

Palmera de Cabarete Resort & Spa to open Dominican Republic 2011 in

Palmera de Cabarete Resort & Spa, opening in 2011 as the first luxury resort on Dominican Republic's n orth coast, has named KWE group, a Miami-based travel, hospitality and lifestyle marketing firm, to handle global marketing and sales.

The $200 million, 138-suite resort is located on 19.5 beachfront acres on 1,000 feet of private shoreline, part of the largest expanse of uninterrupted beach in the Caribbean.

The announcement was made by Darren Law, President and Chief Executive Officer of NID Holdings LLC, developers of Palmera de Cabarete.

KWE group specializes in luxury lifestyle with a focus on destinations, resorts and real estate, and is recognized as a thought leader in luxury lifestyle trends. The firm is headed by President and Chief Strategist Karen Weiner Escalera, who will be responsible for the international marketing and public relations for Palmera.

Ms. Escalera was recently named one of the "Top 25 Most Extraordinary Minds in Sales & Marketing" by the Hotel Sales and Marketing Association International (HSMAI).

KWE group's real estate division is directed by Vice President Sandy Carrier, a top real estate sales and marketing professional in the luxury market. The firm's program for Palmera de Cabarete includes international real estate marketing and sales including analysis and planning, sales strategies, development of an elite broker network program, and hands-on involvement in the entire sales process.

Ms. Carrier is a Certified International Specialist (CIPS), a charter member of the Broward Master Broker Forum, and an active member of the Urban Land Institute (ULI), South Florida/Caribbean Council. Her accomplishments include marketing and sales for Ocean Reef Club in Key Largo, Fla., Arvida's Weston luxury home community in Weston, Fla., EarthMark Companies' Mariner's Club in Key Largo, Fla., and the DUO luxury property on the Diplomat Golf Course in Hallandale Beach, Fla.

Palmera de Cabarete's management and design team enjoy a pedigree of the world's finest resorts, from Ventanas al Paraiso in Los Cabos to The Regent Palms in the Turks and Caicos.

Plans include 138 one- to three-bedroom suites ranging from 2,000 to more than 4,500 square feet. Three expansive, oceanfront freshwater infinity pools provide a focal point for Palmera de Cabarete Resort & Spa, and will be ensconced in eco-friendly garden landscaping.

Amenities will also include a full-service branded spa and wellness facility, tennis, gourmet dining, conference facilities, room service, 24 hour concierge, and children's activity program.

Palmera de Cabarete Resort & Spa will offer the first five-star luxury living experience in Cabarete, the adventure sports capital of the Caribbean, offering world-class windsurfing, kite boarding, surfing, mountain biking, hiking, canyoning, and white water rafting.

2009-02-02T04:26:00.000-08:00

Dominican Republic strengthens commitment to renewable energy

The Dominican government has further demonstrated its commitment to sustainable development by signing an agreement with U.S. firm Sunovia Energy Technologies for the installation of the country's first solar energy plant.

The contract, signed within the scope of a Dominican law providing incentives for foreign investment, will involve an investment of roughly $200 million and provide jobs to some 2,500 workers.

"President Leonel Fernandez and his team have shown a tremendous passion for solving the country's energy difficulties; they've realized that having a bilateral focus, including the responsible production of renewable energy, and adopting practices that conserve energy are critical steps that must be taken if the country is to achieve energy independence in the long term," Sunovia Energy Technologies CEO Carl Smith said.

For his part, Eddy Martinez, secretary of state and executive director of the Dominican Republic's Export and Investment Center, said the agreement "is the result of the intense work we've carried out for years, in keeping with the worldwide trend of reducing dependence on crude and, at the same time, creating new jobs and attracting new investment to the (country)."

The contract signed with Sunovia Energy Technologies is part of a wave of new investment in renewable energy in the Dominican Republic that also involves other U.S. companies such as Masada Resource Group, STC Engineering and Burbano Recycling, which have set up electricity and bio-fuels plants.

Martinez said, meanwhile, that his country not only wants to attract investors in renewable energy, but also to expand investment in the stem-cell research and genetically modified foods sectors and in the development of hybrid vehicles.

2009-01-30T04:44:00.000-08:00

Tourism Ministry says ‘Dominican Republic…Has it All’

“Dominican Republic… Has it All” is the Tourism Ministry’s (Sectur) slogan to promote the country locally and abroad, as “a mature” destiny, with potential attractions far beyond sun and beach.

Speaking of the slogan in Dominican Republic’s stand in the International Tourism Fair Fitur 2009, Tourism minister Francisco Javier Garcia said it’s a new concept to project the country’s diversity of attractions including nature, adventure, historical and cultural tourism.

“This slogan will mark the start of an aggressive international ad campaign for the world to know that the only thing Dominican Republic lacks is snow.”

He said adventure and cultural tourism will be re-launched, and the design of the plan “Tourism is for all” is in the works, to spur Dominicans to be tourists within their own country.

Garcia Also noted that Sectur develops several projects, such as the National Road Signs Plan and an inventory of the entire country’s tourist attractions, to publish literature of easy access for foreign as well as local visitors.

“We want Dominicans to do internal tourism, just like the tourists who visit us.”

2009-01-23T04:41:00.000-08:00

Canada ambassador expects more tourists, investments to Dominican Republic

Canada's ambassador Patricia Fortier said the growth perspective in the flow of tourists and investments from her country to Dominican Republic are promissory for 2009.

The diplomat, who met with Tourism minister Francisco Javier Garcia to discuss the bilateral tourism agenda, stated her country’s interest in bolstering agreements on Canadian cooperation and investments.

Fortier said there’s currently “an umbrella of concrete possibilities” to expand the cooperation with the Tourism Ministry (Sectur), given the country’s increasing importance as a tourist destination, as shown by the sharp increase in Canadian tourists in the last five years.

The ambassador said she shares Garcia’s optimism with the increase of tourists from Canada, despite the economic crisis in the international market.

Only the United States surpasses Canada in the number of tourists, and posted a 17.9% jump last year, with 561,534 at the close of November, according to recent figures of the Central Bank.

2009-01-23T04:37:00.000-08:00

Dominican financial system posts gains of more than RD$12B

Dominican Republic’s financial system posted after-tax gains of more than RD$12 billion, or RD$2.6 billion more than the previous year, said a Banks Superintendence report released today.

“Of the total of these gains after taxes, multiple banks made RD$10.2 billion, almost RD$2.0 billion more than 2007, and equal to a yield of 39.1% on paid capital. The savings and loans associations poster gains of RD$1.2 billion, equal to a yield of 8.3% with respect to their asset reserves," it said.

The report, Dominican Financial System During 2008, notes that the world’s economy underwent “an atmosphere of great turbulences in international the financial markets, which brought about the deceleration of the majority of the developed countries, the fall of the demand for goods and services, the contraction of international credit, as well as the increase the financing costs.”

“This international financial conjuncture presented some challenges at the local level. Those challenges were faced by measures of economic policy,” adds the report, released in a press conference headed by Banks Superintendent Rafael Camino.

2009-01-20T05:48:00.001-08:00

Top Dominican hotelier has a plan to develop Higuey

For the hotelier Frank Rainieri there’s a need to turn this city into an attractive community for tourism so it serves as an important complementary offer, and called on all the local organizations and the government to work to approve a Strategic Development Plan 2010-2020.

In a conference with business and community leaders, and authorities Rainieri suggested that bishop Nicanor Peña, with the support of the La Altagracia Tourism Cluster, immediately convene the presidents of all provincial organizations to an assembly to choose the Strategic Development Council and a Technical Committee to immediately begin the work for the Strategic Plan.

Rainieri said the experience of the Puerto Plata and Santiago Tourism clusters with the Strategic Development Plan 2000-2010 has been positive, and asked that they be taken into account and to apply them to Higuey’s reality.

He said since tourism is the region’s main economic activity, the La Altagracia Tourism Cluster must work to organize and bring all the industry’s sectors together, to break with the idea that the Government must provide everything.

The president of the Group Cana Punta added that the project “Higuey 21st Century” must count on a budget contributed by all the participant organizations in accordance with their possibilities, because “it’s good that it costs something to us all, to feel that we are owners and committed to it.”

2009-01-20T05:38:00.000-08:00

DR World Music Festival takes place this weekend

The DR World Music Festival will take place at Sea Horse Ranch, between Sosua and Cabarete, for 3 nights, next weekend January 23-25.

Music lovers will enjoy the performances of SonAbril, Xiomara Fortuna, El Prodigio, El Batey, Son+Cristo, Soulibre, Cultura Profetica and Groundation, among other bands and artists.

The festival kicks off at 8:00 pm with Soulibre, a reggae-funk-alternative band, formed of a group of young, talented musicians.

2009-01-19T04:44:00.000-08:00

Sans Souci a new US$55M cruise ship port in
Santo Domingo

With the presence of distinguished personalities of the local and international tourism industry, President Leonel Fernandez cut the ribbon of the new Sans Souci terminal at a cost of US$55 million , with the arrival of the Royal Caribbean cruise ship “Vision of the Seas,” that will use Santo Domingo as its hope port home during the current cruise season.

In his keynote speech Sans Souci Ports president Lisandro Macarrulla cited the project’s benefits for the country. “Faced with the world’s economic situation and its possible impact on the country, it becomes essential that a project of that nature continues its development process within the established program. The operation of the new terminal and Don Diego port will create about 4,500 direct and indirect jobs.”

He said the project’s first stage includes the construction of two terminals capable of docking three ships at once and after five years, a third and larger terminal will be built, to receive ships of up to 5,000 passengers.

So far the investment in the terminal, built on around 11,000 square meters, is 55 million dollars, Macarrulla said, but placed the final figure at around US$900 million.

In its different stages the project includes constructions of high rise apartments, hotels and convention centers that will be built on lands of the Navy base, which will be transferred shortly to the community Boca Chica.

2009-01-14T07:54:00.000-08:00

Dominican Environment Ministry flexes its muscle, demolishes club in Bayahibe

The Environment Ministry (Semarena) Wednesday morning began the demolition of a nautical club built in a protected area in Bayahíbe near the Dominicus hotels, La Altagracia province.

Semarena’s demolition order was executed by La Romana provincial offices, headed by Yuma region coordinator Andy Omar Johnson.

The official confirmed the measure to newspaper Diario Libre and said in the documents of the structure appears the engineer Martìn Concepciòn Muñoz, representing the company Inversiones Blue Eges.

However, it was learned that Concepciòn represents Italian investors who neglected the rules and violated several SEMARENA dispositions to build two, three story structures and illegally occupied an area of the beach.

It was reported that despite being warned to halt the construction, they in fact accelerated the works.

Police agents accompanied the official to carry out the measure, including personnel of SEMARENA, which has taken several measures aimed at preventing damages to the zone’s ecology and the environment in the last few months, especially bans on constructions in and around protected areas.

2009-01-09T05:54:00.000-08:00

Santo Domingo can be the Caribbean’s most important destination, says mayor

National District mayor Roberto Salcedo said Thursday that the Dominican capital has all the attributes to become the most important tourist destination in the Caribbean.

He said the City Council works hard to recover the entire coastline along the Capital’s Malecon, aimed at making it more attractive and increase the number of foreigners who visit. Crews work continuously in the first stage to recover the section from the harbor entrance to the Maximo Gomez Avenue, along the Malecon, works he said are expected to conclude this year.

“The National District has all the conditions to become the most important tourist destination in the Caribbean. We have the first cathedral and the first university, apart that we have a top level hotel infrastructure."

Salcedo spoke during a reception for a delegation from Pontevedra, Spain, headed by its president, Rafael Louzán.

2009-01-09T05:43:00.000-08:00

Tourism wants to jump start Bayahíbe this year

Dominican Republic-. The Tourism Ministry will

implement a project this year to develop a tourism

enclave in the Bayahíbe municipal district.

The initiative is part of the Territorial Ordering Plan, which includes the reconstruction of the beach and improvement of the docks.

Manuel Nolasco, Tourism vice minister in Yuma-Bayahíbe, said the plan will spur the growth of quality tourism and benefit the population. “It addition, the country’s biggest movement of tourist in excursions is in Bayahíbe.”

The official said the project includes the construction of a pier, and to regulate the activities of the many boats and companies that deal with tourists, “and also decontaminate the most beautiful beach which we have.”

Although as many as 3,000 tourists visit Saona Island daily, a new wharf would make the ecotourism and cultural destination more attractive, Nolasco said.

Bayahibe, Dominicus, Boca de Yuma and San Rafael del Yuma form part of a tourism enclave where in addition to Saona and Catalina islands, has important natural resources such as the National Park of the East, the country’s most visited.

2009-01-08T05:05:00.000-08:00

Dominican government expects US$2.4B in foreign investment 2009

The government expects around US$2.4 billion in foreign investments this year, announced several officials in the National Palace last night. They include housing, with participation of entrepreneurs form Spain, United States and the country, according to the officials.

Construction on some of those housing projects is set to begin in the next few days, they said.
Tourism, free zones, mining, agribusiness, biofuels, renewable energy are among the proposed projects, standing out the construction 5,000 houses for people of low income.

The officials said the houses are the first of 100,000 that Spanish, American and Dominican companies plan to build in a period of five years, to meet the existing deficit.

The details on the foreign investments, including the construction of greenhouses, were provided in a press conference in the National Palace, by the director of Presidency’s Press Rafael Núñez; Dominican Republic Export and Investment Center (CEI-RD), Eddy Martinez; National Competitiveness Council, Andres Vanderhorst, and of Free Zones, Luisa Fernandez.

Martinez said construction of the first stage of the 5,000 houses will begin in the next few days, by the Spanish and United States developer H2, with real estate experience in the Dominican capital.

He said other projects that will generate jobs include hotels, energy, as well as US$50 million in greenhouses, to be built in different agricultural of areas the country.

The CEI-RD chief said direct foreign investment will surpass US$2.4 billion this year, with the economic perspective of sustained growth in the tourism industry and in revamped free zones.

The government officials said investment reached US$2.0 billion last year, or US$1.0 billion more that in 2007.

2009-01-05T05:29:00.000-08:00

Dominican Republic’s “active forces” called to talk about global crisis

President Leonel Fernandez instructed Economy minister Temístocles Montas to organize the call to a gathering between the nation’s “active forces” as the head of the State proposed in a December 8 speech to the country, aimed at facing Dominican Republic’s challenges in the global crisis.

Quoting a National Palace source, newspaper Listin Diario said the summit seeks to address economic topics, at the center of the crisis.

The source said since it’s about economic problems the President instructed Montas to organize the encounter, although a date has yet to be set. “Logically in that summit with the active forces of the nation all sectors will be able to participate and take their own agenda and proposals, so they are discussed within the encounter.”

However, the Listin soured said the idea is to discuss the country’s situation within the world-wide crisis and leave aside political aspects that could be debated in another arena.

In that regard, the opposition PRD party said Saturday it is willing to participate in the talks, only if Fernandez “keeps his promises.”

2009-01-03T08:09:00.000-08:00

Dominican business sector hails interest rate reductions

Representatives of the industrial, commercial and agricultural sector have said that the reduction in interest rates announced by the Central Bank will lead to an increase in commercial activities, which in turn will contribute to reactivating the country’s economy.

Yesterday the Central Bank announced lower overnight interest rates from 9.5% to 8.5% annually, or 1 percentage point, and the Lombarda interest rate from 16% to 14% annually, or 2 percentage points.

The president of the Herrera Industrialists Association (AEIH), Manuel Cabrera welcomed the measure as “timely” and said that it was an indication that the monetary authorities were fulfilling their promises.

He said that this reduction was smaller than expected, and that it should have been between 10 and 12 per cent. Nonetheless, he said that he was confident that these would return to the ideal level for promoting economic development.

The president of the National Commercial Companies Organization (ONEC), Pedro Pérez, said that this would contribute to reactivating the economy, and that many businesses would now be able to get loans at a more reasonable rate. He said that the measure would provide a much-needed boost to sales.

He did however point out that the monetary authorities needed to exercise caution in order to maintain exchange rate stability.

2009-01-02T09:39:00.000-08:00

A big year for the Dominican environmental sector

Could 2009 be the year in which Dominican Republic adopts measures to reduce the adverse effects on the environment and repair damages caused by the ecological deterioration, even as historically, the lack of response to some problems has been justified by legal weaknesses that limit the environmental authority?

A sector document with solutions to the problem seeks to modify eleven articles of the Constitution and create a new one on collective rights and on the environment, and if amendment is accomplished this year and it their proposal materializes, the nation would be taking a giant step, the organizations that work in the issue say.

“It’s not possible that Dominican Republic doesn’t have express dispositions it in its Constitution to prevent the contamination and promote the sustainable use of our natural resources,” said Jose Rafael Almonte, Environment vice minister for Planning and Development.

“In this reform it will be necessary to consider in a clear, expeditious and specific manner a mandate to the public powers on the need to protect the environment and for a sustained use of the natural resources”, and “if society doesn’t obtain that, then it’s saying that it’s not interested.”

Among the positive actions emanating from the Environment Ministry and the sector are the Plan Quisqueya Verde, which although the Government touts it as forestry policy success, ecologists say only time will reveal if there has been true progress. There are 3,500 people working in the Plan and 2,236 pounds of seeds have been collected.

In enforcement, Environment showed its zeal in October when it demolished the infrastructures of two small hotels being built illegally in Saona island, part of the national park of the East, and with the evictions of squatters in the national park Los Haitises. It also shut down major plants that dragged aggregates from the banks of several rivers.

2009-01-02T09:27:00.000-08:00

Dominican Central Bank lowers overnight rate to 8.5%

The Central Bank announced lower overnight interest rates from 9.5% to 8.5% annually, or 1 percentage point, and the Lombarda interest rate from 16% to 14% annually, or 2 percentage points, which signals an eased monetary policy to continue in February, as the monetary authorities recently announced.

“The decisions with respect to changes in interest rates are conditional to the behavior of the main causes of inflation, which closed in December 2008 at 4.52%, below the goal established in the 2008 Monetary Program,” the Central Bank said on its Web site.

Inflation of only 4.52%, possibly Latin America’s lowest, means Dominicans will have received positive a real return from their savings in 2008.

“Interest rates reduction is consistent with the current behavior of oil prices and the internal demand, jointly with a position of greater fiscal prudence, reflected in the recently approved 2009 Income and Budget Law," the Central Bank said.

It adds that the Overnight rate is the one that represents the yield for the financial institutions that deposit their surplus in the Central Bank, reflecting the cost of money for the monetary institution, whereas the Lombarda rate is the maximum interest rate on short term loans to the financial institutions.

2008-12-29T08:09:00.000-08:00

Prince Albert of Monaco to launch Dominican tourist complex

President Leonel Fernández, will lead the ground-breaking ceremony for the construction of the Punta Perla tourist complex in the company of Prince Albert II of Monaco. The project has a projected investment of US$2.5 billion, and is the third tourism initiative of this type to be launched in the country since November.

The 10.2 million square meter property with 3.5 kms of beachfront will include four boutique hotels, 8,800 residential units, three golf courses, an inland marina, a beach club, an amphitheater, sports installations, commercial units, a shopping mall open to the public, a museum and staff accommodation.

Punta Perla is expected to be completed within a 10-12 year period.

It was announced that the Prince of Monaco, although not an investor in the company, has shown an interest in supporting Punta Perla, as he considers it to be an environment-friendly tourism development that could set the standard for other similar initiatives.

Punta Perla is promoted by European tourism specialist business groups.

2008-12-24T06:12:00.000-08:00

Central Bank of the Dominican Republic Increases Overnight Rate

The Central Bank of the Dominican Republic, following its commitment to maintain
macroeconomic stability and control over inflation, in a monetary policy meeting held on
July 30, 2008, increased its overnight rate from 9.0% to 18% effective.

This decision is consistent with the targets set in the Central Bank’s Monetary Program
and aims to reduce inflationary pressure on internal prices, given the magnitude of the
external shock. Interest rate movements are conditioned to the performance of internal
and external inflation determinants, considering the lags in the monetary transmission
process.

In this regard, even when external volatility has shown signs of moderation recently, their
effect on the Balance of Payments has been significant and the monetary authorities
foresee a lagged effect on the Dominican economy. Moreover, there is a persistent
imported inflation component originated by high international food, commodities, and
other finished goods prices.

Domestically, inflation risks are still present due to an increase in aggregate demand,
driven by rising consumption and investment public and private, which could affect
inflation in the last two quarters of the year.

The Central Bank will continue to closely monitor the international situation and the
developments in internal markets, as well as their implications for mid and long-term
inflation expectations.

2008-12-20T06:12:00.000-08:00

IFC approves initiatives to support emerging markets

IFC’s Board today approved a package of crisis response initiatives to support the private sector in emerging markets hit by the global financial crisis. On December 9, it also approved a Sovereign Funds Initiative which will enable IFC, a member of the World Bank Group, to raise and manage commercial capital from sovereign funds for equity investments in some of the poorest developing countries. The initiatives will support the private sector, which is critical to employment, recovery, and growth.

The crisis response facilities consist of a doubling of the IFC Global Trade Finance Program to $3 billion, a new $3 billion Bank Recapitalization Fund, and an Infrastructure Crisis Facility which is expected to mobilize at least $1.5 billion. These will be supported by advisory services addressing the needs of clients affected by the crisis.

The goal of the Sovereign Funds Initiative is to connect long-term commercial capital from state-owned investors with the substantial investment needs of private companies in developing countries.

“We are pleased that the Board approved and endorsed these important initiatives,” said Lars Thunell, IFC’s Executive Vice President and CEO. “With the support of donors and partners, these IFC facilities will provide critical assistance to many businesses and entrepreneurs and reduce the impact of the crisis on the poor. In addition, our new Sovereign Funds Initiative should mobilize new sources of commercial capital for long-term investment in frontier regions and countries.”

The four crisis response facilities are expected to deploy about $30 billion over the next three years. IFC will fund the facilities and has invited other donors, including governments and international financial institutions to contribute financing and expertise. The Japanese government has announced that it will become a founding partner and invest $2 billion in the Bank Recapitalization Fund.

IFC’s Board of Directors is a permanent board that represents IFC’s 181 member countries and guides its programs and activities.

About IFC’s Crisis Response Facilities

Expanded trade finance program: IFC will double its existing Global Trade Finance Program from $1.5 billion to $3.0 billion over a three year period to meet a large increase in demand for short-term trade finance. The expanded facility will benefit participating banks, including those in some of the world’s poorest countries.

Bank Recapitalization Fund: IFC will launch a global equity fund to recapitalize banks, as bank failures would further damage economic activity and worsen poverty in developing countries. IFC expects to invest $1 billion over three years and Japan has announced it will invest $2 billion in the fund.

Infrastructure Crisis Facility: This new IFC facility will bridge the gap in available financing for viable, privately-funded infrastructure projects facing financial distress. IFC expects over three years to invest a maximum of $300 million and that other sources will invest between $1.2 billion and $10 billion.

IFC Advisory Services: IFC is scaling up and refocusing its advisory services geared to financial institutions and governments, and reform of the financial infrastructure—banking for small and medium enterprises, leasing, microfinance, housing, investment policy and promotion, and business operation and regulation.

2008-12-19T04:45:00.000-08:00

A 5.3 quake shakes the Dominican Capital

A tremor magnitude 5.3 on the Richter Scale was felt in the Dominican capital at 1:20 p.m. Thursday, prompting the evacuation of the country’s tallest building in operation, Torre Acropolis.

The tremor’s epicenter was located in the eastern part of the country at a depth of 106 kilometers, said the U.S. Geodetic Survey, in zone 16 kilometers north-northeast of Consuelo township, San Pedro province, and 16 kilometers south of the city Hato Mayor.

As of 1:40 p.m. the authorities hadn’t reported any damages from the shaking that lasted around 15 seconds, with a fist wave followed by stronger shimmying.

The U.S. Geodetic Service’s complete data on the tremor:

Thursday, December 18, 2008 at 01:13:48 PM at epicenter

Location 18.626°N, 69.370°W

Depth 106.3 km (66.1 miles) set by location program

Region DOMINICAN REPUBLIC

Distances 10 km (6 miles) NW (315°) from Consuelo, San Pedro de Macorís, Dominican Republic
20 km (12 miles) NNW (341°) from San Pedro de Macorís, San Pedro de Macorís, Dominican Republic

20 km (12 miles) SW (216°) from Hato Mayor, Hato Mayor, Dominican Republic

63 km (39 miles) ENE (77°) from SANTO DOMINGO, Dominican Republic

Location Uncertainty horizontal +/- 4.2 km (2.6 miles); depth fixed by location program
Parameters NST=181, Nph=181, Dmin=206 km, Rmss=0.78 sec, Gp= 40°,
M-type=regional moment magnitude (Mw), Version=6
Source USGS NEIC (WDCS-D)

2008-12-19T04:37:00.000-08:00

Dominican economy to grow 4.5% in ’08

The Dominican economy grow 4.5 percent this year, according to a preliminary report presented yesterday by Economic Commission for Latin America and the Caribbean (Cepal) executive secretariat , Alicia Bárcena, which also projects a 1.5 percent growth for 2009.

It also predicts an annual inflation of 7 percent and the deficits of the non financial public sector and the current account would be 3.2 percent and 12.6 percent of the Gross Domestic Product (PIB), respectively.

The Cepal estimates an accelerated increase of the public cost in 2008, with an annual expansion of 18.6% in real terms. It adds that its level in proportion of the GDP will reach 20.3 percent, an increase of three percentage points compared with last year, which means a strong turn in the Dominican fiscal situation.

The report considered that Latin America’s and the Caribbean’s growth for 2009 will be 1.9 percent and the unemployment rate will rise from 7.5 percent this year to a range of 7.8 and 8.1%, as a result of the international crisis.

According to the preliminary overview of the Latin American and Caribbean economies, the cycle of economic bonanza comes to an end in 2008, when the region posts six years of consecutive growth.

2008-12-17T05:22:00.000-08:00

Dominican Republic, Las Arenas eco-friendly residence

Las Arenas, a 25-story residential tower scheduled to break ground in the first quarter of 2009, introduces an new eco-friendly architectural design to Juan Dolio Beach in the Dominican Republic. The impressive building will be designed by Dominican architect, Jorge Mesa, and world-famous Spanish landscaper, Artur Bossy, both highly-respected professionals and leaders in their fields.

“The building’s ‘green’ design was inspired by the city’s natural beauty and unique landscape and views,” says Mesa. “Since its conception, Artur and I have worked hand in hand to deliver a truly luxurious standard of living for both residents and visitors, while maintaining the integrity of Juan Dolio Beach,” says Mesa.

The eco-friendly components featured in this development include roof-top solar panels, which will provide energy for all of the common areas and landscaping designed from the sites natural vegetation.

The tower, which consists of 80% glass, is designed to allow sunlight in but acts like a filter that only allows 20% of the sun’s heat to enter inside. This will minimize the use of energy from the air conditioners that cool the building. Las Arenas will also feature a treatment plant for water destined for the maintenance of the building and watering the gardens.

In addition to the “green” components that makeup Las Arenas is its extensive lush garden, designed by landscape artist, Artur Bossy, who can also be accredited for marvels, such as the Botanical Gardens in Barcelona.

Residences at Las Arenas include one bedroom lofts, two, three and four bedroom condominiums, and penthouses. Each unit features eco-friendly technology, sound proof walls, and controlled entry with an access card. Two large parking levels enable residents to have the option of three parking spaces per unit. Prices range from $210,000 - $2 million USD.

The project will also feature an infinity edge pool, Jacuzzi with hydromassage that seats up to 15 people, beach club and recreational section for children with daily supervision, and a fully-equipped gym with a stunning beach view. Additional amenities include a business center and meeting rooms, Wi-Fi throughout the building, and a state-of-the-art commercial and retail area that will carry designer fashion brands, numerous restaurants from casual cafes to fine dining, and a boutique spa.

2008-12-12T04:40:00.000-08:00

Foreign investment in Dominican Republic sets another record

The director of the Dominican Republic Export and Investment Center (CEI-RD) said Thursday that foreign investment in the country jumped to US$2.35 billion up to September, or US$836.5 million more than the US$1.5 billion in the same period a year earlier.

Eddy Martinez said the figure sets a record in new foreign capital inflow.
The official said the investments are the result of the efforts and international relations president Leonel Fernandez has accomplished, which has motivated new investments to come to the country.

Last year’s total US$1.7 billion was also a record, attributed to the DR-Cafta trade deal that took effect in 2007.

2008-12-11T04:30:00.000-08:00

Passengers on Dominican-Puerto Rico Ferry also get duty-free break

Every day more and more Dominicans living abroad, when returing to the country, apply for the Christmas facilities provided by the Dominican Custom Agency (DGA) during the year-end.

Some of the users of the ferry between Puerto Rico and the Dominican Republic qualify to bring free of duty, appliances and gifts amounting up to US$2,500.

Dominicans living abroad are happy because they could bring more items to their relativesduring the holidays.

2008-12-10T05:20:00.000-08:00

Dominican industrialists want Fernandez to adopt tough measures

The country’s industrialists expect president Leonel Fernandez to announce, in his speech to the nation, emergency measures that have a vision to face the future challenges in 2009.

The Herrera Industrial Association and the Industrial Federation (FAI) say this emergency program must have three fundamental platforms based on offering immediate solutions to the high cost of living, citizen insecurity and the electrical crisis.

For the presidents of the Herrera industrialists, Manuel Cabrera, and of the FAI Ignacio Méndez, the chief executive must adopt measures to recover the citizens’ confidence. “We need to recover the confidence that the President had awakened some time ago."

Méndez suggests stimulating an increase in production, especially agriculture and industries, for which the Government shouldn’t compete with industrialists for the credit available.
They also agree with the Central Bank’s plan to begin lowering the interest rate starting February, but cautioned that this will happen only if waste in government is curtailed.

They said this implies an elimination of unnecessary posts created in the government and a redesign of the policy on subsidies, to eliminate those that are irrational.

2008-12-06T07:34:00.000-08:00

Public, private sectors plot moves to shield the Dominican economy

Several business and industry groups as well as government agencies today agreed to join efforts to and form discussion groups among other actions to spur exports, create jobs and generate currencies to secure economic growth.

The associations Industries (AIRD), Exporters (ADOEXPO), Free Zones (ADOZONA) and the Agribusiness Board (JAD); as well as representatives of the country’s productive and exporting sector; and officials of the ministries of Industry and Commerce and Agriculture, the Export and Investment Center of Dominican Republic (CEI-RD), the councils on Export Free Zones (CNZFE), on Competitiveness and PROINDUSTRIA, an related sectors.

“Given that exports promotion is indispensable to maintain Dominican Republic’s development, a strategic and action plan will be established with short, medium and long term measures to eliminate the hurdles that affect the productive sectors’s competitiveness,” said the joint document.

The entities will also form work tables integrated by representatives of the public and private sector, “to identify and work in the application and pursuit of measures of consensus that respond to the common interest, to improve the productive sectors; competitiveness and promote exports.”

They also pledged to assume, within the agreed work tables, action in the areas of electrical supply, access to credit, land cargo transport, equal treatment for exports, the labor market, competitive macroeconomic environs and international promotion our exportable offer, “among others measures that will allow us to capitalize on the opportunities expected from a strategically located country, with creative and qualified human resources and committed to their work.”

2008-12-05T05:41:00.000-08:00

Trust us to solve problems, Dominican President says

President Leonel Fernandez last night asked Dominicans to have confidence in his government, which he said is committed to seek solutions the problems that may affect them in 2009, such as the energy crisis, crime and food production.

He said the elections, the energy crisis, food and the global economic problems made 2008 a challenging and difficult year for the nation.

Fernandez spoke last night, together with his family after the year end concert for government employees and the lighting of the National Palace’s Christmas tree and exterior lights. “I’m hopeful that the new year will be better and we commit ourselves to work, even in adverse conditions, to maintain economic growth and social peace, create more jobs, attract new investments and continue the progress.”

He said he’ll deliver a brief speech to the country next week on measures to control crime and new economic actions to guarantee the country’s stability.

2008-12-04T06:38:00.000-08:00

Dominican Republic has a Law on International Financial Zones

The Chamber of Deputies passed the bill that creates International Financial Zones in certain geographic demarcations in the Dominican Republic, including a legal framework for its operations.

The Senate already passed the legislation and now goes to president Leonel Fernandez, who’s expect it to sign it into the Law.

In those zones financial services and other related activities will be provided extra-territorially solely to non-resident physical people, and to others whose main address is abroad.

The bill establishes that in no case will financial services be offered from those International Financial Zones to the Dominican Government, nor to financial institutions regulated by special Dominican laws.

The bill is sustained in the Monetary and Financial Law, on the Stock Market, the Free Zones and Money Laundering.

Among the financial services available will be businesses and investment banking, public and private brokerage, trading of titles and commercial paper, monetary market, shares and merchandise of all types, money and asset management, deals with investment funds and project and corporative finances.

2008-11-27T04:38:00.000-08:00

Dominican capital’s subway on track for December

The Transport Reform Office (Opret) is still on track with the programmed activities for the Santo Domingo Metro’s start of operations in December.

The regulatory entity’s personnel works in the high and low tensions lines, the control centers and electrical substations, said Opret assistant director Leonel Carrasco. "Collaterally we are connecting all software units and the gigantic salon, called the main control."

Carrasco said 260 Santo Domingo State University (UASD) students have been trained to work in that department who also received training as train conductors and how to deal with people in the operational area.

The official said Opret advances to meet the programs and agreed procedures, which must be validated by several companies contracted for that purpose, including Cimex, the Tos Sin, Tales and Alstom, which supervise the electromechanical and rails systems and the rolling stock. "These people should give us a certification in the next few days, as soon as we conduct the pertinent tests."

2008-11-25T04:43:00.000-08:00

IMF tells Dominican Government to harden taxes now, ease later

The International Monetary Fund (IMF) recommended that the Dominican Government harden its tax policy to allow easing the monetary policies in 2009.

The IMF said a key element in the fiscal adjustment is the expected improvement of the energy sector’s financial situation, “which reflects not only the reduction in energy prices, but also the active application of penalties for theft and a policy of billing that accurately reflects costs.”

In a statement the multinational financial organism provides the results of the visit from November 12 to 19 by the delegation headed by Andy Wolfe, head of the IMF for the Western Hemisphere Department. He said there was wide reaching agreement on the need to apply a fiscal adjustment in 2009, due to stricter global conditions for credit. “But that hardening of the fiscal policy would create space for certain lightening of the monetary policy.”

The IMF said the fall in international food and energy prices should help reduce the pressure on fiscal and external current accounts. The country also applied a prudent monetary policy in 2008, which contributed to constrict the internal demand and served as anchor to maintain macroeconomic stability, which lead to lower the pressure in the exchange market and an expected lower inflation of 7 percent in 2009.

“Nevertheless, certain margin for the lightening of the monetary policy in the course of 2009 must exist as the fiscal adjustment materializes.”

In that regard it affirms that the authorities will present a budget to Congress based on a realistic projection of income and a credible and identified level of financing.

Regarding the financial sector the IMF said official indicators suggest such a capitalized and protected banking system that it can withstand the present adverse conditions. For that reason, in 2009 a delegation of the IMF and the World Bank will update the financial sector’s analysis program (FSAP), carried out for the last time in 2002.

The delegation visited the country to conduct the first talks on the post monitoring program, with meetings held every six months, after the organism’s Stand by agreement with the country signed last January 30. It said the talks centered on the macroeconomic policies needed to maintain the stability in view of the deceleration of the world economy and restrictive international financial conditions.

The program is an intensive monitoring that’s part of the complements in Article IV of the Consultation’s annual economic monitoring, as soon as the financing exceeds 100 percent of the Member State’s quota.

2008-11-24T05:07:00.000-08:00

Officials from US, DR, Central America discuss DR-CAFTA Labor Chapter

Officials from the United States, Central America and the Dominican Republic held the first meeting of the Labor Affairs Council established under the Dominican Republic–Central America–United States Free Trade Agreement (DR-CAFTA).

The council is responsible for overseeing the implementation of, and for reviewing progress under, the Labor Chapter of the DR-CAFTA, including the activities of the Labor Cooperation and Capacity Building Mechanism established under the Labor Chapter.

The council reaffirmed the importance of each party fulfilling its commitments under the Labor Chapter, including the effective enforcement of each party’s labor laws and respect for the ILO Declaration on Fundamental Principles and Rights at Work.

"We see the DR-CAFTA countries as crucial partners on labor matters in the hemispheric dialogue. We are all equal partners in the free trade agreement, and share a foundation of common interests and goals. Labor cooperation is an important part of our regional trade relationship,” said Howard M. Radzely, deputy secretary of the U.S. Department of Labor.

2008-11-24T04:58:00.000-08:00

Dominican president speaks on emerging economies and new world financial system

"Every day there are new situations that generate new worries and new uncertainties within the framework of the international economy," President Leonel Fernandez said Saturday during a two-day economic conference he is hosting.

He called for emerging economies to have greater say in a new world financial system.
The meeting in the Dominican Republic includes Honduran President Manuel Zelaya, Haitian Prime Minister Michele Pierre-Louis, U.S. billionaire George Soros, and Nobel Prize-winning economist Joseph Stiglitz, who warned that the current crisis will be long and deep.

When the U.S. economic bubble burst, left behind a black hole that will likely worsen gaps between rich and poor in developing countries, said Stiglitz in the conference. To overcome the turmoil and ensure that global financial systems benefit more people, the world needs a new understanding of governments role in the economy, he added.

2008-11-24T04:36:00.000-08:00

The economic system unleashed the crisis, says Dominican President

President Leonel Fernandez denounced that a deep crisis of ethical values and a “putrid” economic system, mainly of the United States, are the causes of the serious problems affecting almost all of the world’s economies. “This crisis of values is seen in the speculation of markets, and the lack of regulation and supervision, among others anti-ethical causes.”

Fernandez, after presenting the conclusions of the two-day minisummit “The emergent global financial order: a regional perspective” held in the Casa de Campo resort complex, affirmed that several auditing companies and risk evaluation firms were accomplices in the fraud and manipulation. “That situation should’ve never happened and we’ll necessarily have a high cost that will produce more poor people, more unemployed and more people disoriented and suffering in the entire planet.”

He said the avaricious and greedy who manage large capitals on paper took the world to the crisis that brings about “rage and impotence” and that to reach a suitable balance for our societies function well requires the visible hand of the State in coordination with the markets’ invisible hand.

The summit’s conclusions will be gathered in the Declaration of Santo Domingo and presented in December, in the meeting in Salvador de Bahia, Brazil and then in the Assembly of the United Nations.

2008-11-21T04:55:00.000-08:00

Dominican exports to Europe top US$600M so far this year

Foreign minister Carlos Morales said Dominican exports to the European market have topped US$600 million so far this year, which in his view is proof that signing the Association Economic Agreement (AAE) benefits country.

He said the profits are from banana, cacao, coffee, rum and lately sugar exports to the European Union, a market of 480 million consumers that, since the beginning of the year, began to receive provisionally Dominican products tariffs free. “This accomplishment is of significant importance for the Dominican Republic, especially at this time of economic crisis, that’s already felt at the world level.”

Morales, in a luncheon hosted for the presidents of the Senate and of the Chamber of Deputies, and the members of the Foreign Relations commissions, said once the Free Trade Agreement with Europe is ratified, the products and services of the pact’s signatory nations have access to the European Union market, free of duties and quotas.

As to the area of services, the official said many technicians, (cabinetmakers, plumbers, electricians, among others), as well as engineers and artists have been contracted for a period of six months, with automatic permits in several countries of Europe.

2008-11-21T04:44:00.000-08:00

Dominican exporters celebrate

As part of last night’s "22nd Grand Dinner of the Dominican Exporter" celebration, the Dominican Association of Exporters (ADOEXPO) recognized the efforts in excellence of Dominican Republic’s export sector.

The event, held in the Jaragua Hotel, gathered executives of major companies, with awards handed out in five categories: Service to the export sector; Industrial exporter; Agribusiness exporter; Merit for export, and the top award, Grand Dominican Exporter.

ADOEXPO president Ricardo Koenig and officers and members of the organization headed the activity, where more than 500 business leaders, the government’s economic area officials, diplomats, representatives of international organism and national personalities took part in the yearly event.

The free zone export companies were recognized for the first time in the traditional event, with the economist and historian Bernardo Vega as invited speaker.

2008-11-19T05:32:00.000-08:00

Dominican Republic Named "Golf Destination of the Year"

The Dominican Republic (DR) was named the "Golf Destination of the Year for the Caribbean and Latin America" by the International Association of Golf Tour Operators (IAGTO).

The award was presented to Francisco Javier Garcia, the DR Minister of Tourism, at the 2008 International Golf Travel Market's (IGTM) annual meeting held Nov. 17-20 in Marbella. "The IAGTO award affirms that the DR has arrived on the international scene as an important new 'It' destination for golf.

The world is taking notice of the DR's world-class designer golf courses set amid stunning sea sides, beaches and mountains in an accessible and affordable destination," DR Minister of Tourism Francisco Javier Garcia said. Each year, the IGTM annual conference brings together golf tour operators and the meetings industry with leading hotels, resorts and golf courses of the world to conduct business and grow the industry. This leading trade show highlights and honors top golf travel suppliers, destinations and services.

"Since the first designer golf course opening in the DR, which was Teeth of the Dog at the world-popular Casa de Campo resort, golf has been a booming facet for the country's tourism industry," said Garcia. "The DR, blessed with breathtaking countryside and pristine beaches, is home to some of the world's most dramatic and spectacular golf courses designed by legends such as Pete Dye, P.B. Dye, Jack Nicklaus, Robert Trent Jones, Gary Player, Tom Fazio and Nick Faldo."

In honor of the prestigious award, IAGTO will host an official IAGTO FAM trip that will consist of 50 people, 40 IAGTO members (golf tour operators) and 10 members of the International Golf Travel Writers Association to experience the golf offerings of the DR first hand.

In addition to this award, the DR was recently recognized by Travel & Leisure Golf magazine, a top-tier golf publication with a circulation of more than 650,000, as "The Player's Paradise," honoring the Faldo Legacy Course at Roco Ki as one of the top 10 best new golf courses in the world.

Also, soon to be released by Golfweek magazine, a top-tier golf publication with a circulation of more than 150,000, Punta Espada Golf Course will be ranked number one along with the Faldo Legacy Course at Roco Ki to be ranked number 20 in the Top 50 Courses in the Caribbean and Mexico article.

Rich in history, the Dominican Republic is a diverse and luxurious destination offering both Dominican and European flavors to more than one million U.S. visitors each year. It also features some of the best golf courses and beaches in the world, the largest marina in the Caribbean and is a chosen escape for celebrities, couples and families.

2008-11-18T06:41:00.000-08:00

Hotel Paradise Beach Resort & Casino has a new look

Hotel Paradise Beach Resort & Casino of the chain Amhsa Marina Hotels & Resorts, located in the Playa Dorada resort, Puerto Plata, will resume its operations in December after a renovation process in all its facilities.

Grand Paradise Playa Dorada is the new name that will identify the old Paradise Beach Resort & Casino.

The information was released by the vice president of sales & marketing Amhsa Marina Hotels & Resorts, Antonio Herrera, who said to carry out the renovation, the hotel closed its doors to the public on May 6.

Herrera noted that the reshuffle includes the construction of balconies in the rooms that hadn’t previously had one, new furniture and decor, mini flat screen televisions for greater comfort of the guests in the 425 rooms, and remodeled lobby, casino, disco and restaurants.

2008-11-18T05:50:00.000-08:00

Dominican Republic airfares plunge as much as 20%

Airfares to Miami, New York and Spain have become 10 and 20 percent cheaper in the last few days due to the start of the high tourist season and lower fuel prices.

For Miami there are offers of US$188 plus taxes, so flyers can get a ticket for RD$11,400, down from its month ago price of RD$15,000.

Fares to New York range from 14 to 15,000 pesos, or 10 percent less, whereas to Puerto Rico remain at RD$16,000 and aren’t expected to decline because there aren’t many airlines that cover that route.

Dominican Travel Agents Association (Adavit) vice president Edison Ureña said the country’s high tourism season and the Christmas festivities begin November 15, when the airlines customarily offer roundtrip specials, with prices now even lower as fuel prices fall.

2008-11-17T04:27:00.000-08:00

G20 leaders agree action plan to boost growth

Leaders of the world's top 20 economies have wrapped up a two-day summit in Washington with pledges to boost global growth and overhaul the financial system.

They agreed on an action plan that envisages more government spending, a global free-trade deal, and a reform of financial regulations and financial institutions. G20 finance ministers have been instructed to draw up concrete and detailed reform proposals by March 31 to be brought before a new summit, possibly in London.

German Chancellor Angela Merkel has welcomed the outcome of the summit, saying it was a reasonable and adequate response to the financial crisis.

Saturday's meeting included the leaders of new heavyweights such as China, India and Brazil. Africa's ECOWAS community has called on the G20 to ensure that Africa has a say in revamping the World Bank and the International Monetary Fund.

2008-11-13T05:01:00.000-08:00

Planned plant would produce ethanol, electricity from solid waste in Santo Domingo

The company W2E Resources will construct a plant to produce ethanol and electricity, transforming solid waste, including sugar cane bagasse, at a cost of around US$200 million, and create 750 direct and 1,500 indirect jobs.

The information was offered by the representative of the company, Rafael Jose Zapata, prior to the presentation of the Dominican Biofuels and Renewable Energy Chamber, headed by Alfonso del Carmen Fermin, who said the company will operate in the town Guerra .

Zapata said they are doing the environmental impact study and engineering of the final draft, with construction expected to begin early next year, and around 24 months for the plant's startup.

He siad the plant will transform garbage into ethanol and electricity for Santo Domingo East, the areas of Boca Chica, Punta Caucedo Port and the airport.

2008-11-13T04:52:00.000-08:00

Tourist revenues will pay for warplanes in the Dominican

The US$93.7 million loan for the eight Super Tucano combat planes the Chamber of Deputies approved yesterday will be paid from the US$20 each tourist pays upon entering the Dominican Republic, two lawmakers said Wednesday.

Ruling PLD party deputies Teodoro Reyes and Ramon Cabrera said president Leonel Fernández made that decision by decree almost two years ago and opened an account in the Reservas bank for that purpose.

They said that according to reports by Dominican Air Force chief Carlos Altuna Tezanos that account has enough funds to pay the loan installments in the first two years. Altuna met last week with PLD deputies and said Dominican Republic needs the combat aircraft.
The loan was approved despite allegations by PLD deputy Elso Segura Martinez, who said there were rumors that bribes were given in exchange for the approval.

Last year more than 3 million tourists came to the country, providing revenue estimated at more than US$60 million.

2008-11-11T06:34:00.000-08:00

Dominican tourist sector to diversify its offer

The Tourism Ministry (Sectur) will implement a strategic plan for tourism development in order to reach the main markets and strengthen the country´s position in those other where it is already leading.

In statements to Bohio International magazine, the new Tourism Minister Francisco Javier García also said Sectur plans to make a follow-up to all projects underway and to consolidate the already obtained achievements."Together with the private sector, we have envisioned a plan to make tourists directly linked with the community.

With the plan called ´Tourists at my home´, visitors will be able to share one day with a Dominican family," García said.Another program plans to create a specialized fund for productive investment in the tourist areas, encompassing the farming, craft and business sectors, the minister announced.

2008-11-04T05:29:00.000-08:00

CULTURE AND EDUCATION IN PUERTO PLATA

The reports on the celebration of the carnival in the Puerto Plata city, they date from ends of the 19th century, and its festivity with the arrival of Cuban immigrants was enriched at the beginning of the 20th century.

The central personage is the devil cojuelo, that in Puerto Plata he becomes Taimáscaro, that produces deities Taínas in its masks, with a beautiful suit where elements of the Spanish culture they are symbolized and the African essences, in multicolored tapes in its arms, and all that is complemented with the conches of the Atlantic ocean, as natural elements of identity of the town Puertoplateño.

These festivities are celebrated during all the month of February and March, in the avenue of the Jetty and the streets of the city. Where, the people and adult they entertain and they enjoy the parades of disguises, the music, the popular dances and the different demonstrations of the art and the culture represented in the carnival that reflects our cultural identity.

Each year the organizers of the carnival, they choose the King Momo, that represents the person of the city that more has fought for maintaining its traditions. 4,2. Victorian architecture The Puerto Plata city is characterized for their architecture in which dominates a Victorian called style, where they converge various architectural styles, giving him a various character to the process of urban development development. Inside this variety is the old style related to the colonial epoch, of which remains as an example the Fortress San Felipe.

Then developed the Victorian model, because of the French, Italian, German, English immigrations and other European countries, which began after the War Restorer and had its height to ends of the 19th century and starts of the XX. This style was utilized in dwellings and in buildings destined to social activities. This type of construction gives an own image to the province.

Finally, it develops in Puerto Plata a modern architecture, because of the American occupation (1916 and 1924) and continued under it was of Trujillo, based on constructions of blocks and cement. Currently with the tourist boom has developed a new architecture based on the environments.

Currently, the municipality of San Felipe of Puerto Plata counts on 182 Educational Centers of which the 67% corresponds to the public sector and the 39% to the private sector.

This municipality counts on a total of 29.279 students, of them 1.567 corresponds at the Initial level, 19.395 at the Basic level, 6642 at the Medium level, 1.505 students to the subsystem of adults, 84 students of special education and 86 of the labor school.

Besides the universities fours operation counts on itself that offer different careers of technical and upper degree. Said universities are: Pontificia Universidad Católica Madre y Maestra (PUCAMM), Universidad Dominicana O & M, universidad Tecnológica de Santiago (UTESA) y el Centro Universitario Regional del Atlántico de la Universidad Autónoma de Santo Domingo (CURA- UASD).

2008-11-04T05:20:00.000-08:00

History of Puerto Plata

Some differences among the historians exist that have written on the year in which Puerto Plata was founded. Emilio Rodriguez Demorizi, José August Puig Ortiz, Américo Lugo and Samuel Hazard, they give as good and valid, that you take care of was based it on the 1502 by Nicolas of Ovando; thus they collect it in their main works.

Other historians vary the date of his foundation: the Full doctor affirms, that was in the 1503. The Dr. Joaquín Marine Incháustegui, in his Dominican history he plant that he was in 1504. The Dr. Manuel Arturo Rock Batlle indicates that Port Silver was founded in 1505.

The historians, Alonso Rodriguez Demorizi (brother of Emilio) and Hyacinth Gimbernard, they express that was in the year 1496 and the Spanish Father says that in 1506. The historic informations, on the Silver Port foundation they are inexact.

Nicolas of Ovando, above-mentioned to have a port in the northern coast of the island, the origin of its foundation dates near 1502. Around 1555, the Puerto Plata's importance had been lost and became one of the places of the Antilles where was practiced the contraband with the pirates and the pirates of the Caribbean.

The Admiral, Christopher Columbus, in its first trip, named the Monte de Plata, the today montaña Isabel de Torres, observed that in its high top always it is foggy that cause they appear it as silver and of low of its mountain, to the edge of the sea, took the port of the name, for which Puerto de Plata was called. A century and middle later and with the use, him was suppressed the preposition of, and Puerto Plata was called simply, like him is known today.

The city was designed by the brothers Christopher and Bartolomé Columbus, in the 1496 and based on the year 1502 by Frey Nicolás de Ovando.

In its first phase of Spanish Colony was respected the main commercial and maritime port of the island. In 1605 it was depopulated and destroyed by order of Fernando III, to avoid the advance of the English piracy and Holland that took as base the north part of the Atlantic one.

A hundred years later, was repopulated again with new inhabitants originating in the Canaries that were mostly farmers. From 1822 to 1844 the city was low Haitian control. Of 1844 on it begins the republican period and the city recovers its maritime and commercial boom.
The city grew under the influence of the European immigration, who they contributed its cultural and social quota; what itself reflection in its inhabitants; who they possessed a culture that distinguished him of the other cities of the country.

In 1863, during the period of the War Restorer, the city was set on fire completely, initiating from 1865, the construction of the current Silver Port city. Under the influence of the Victorian architecture considered the most advanced one of its epoch, the Silver Port city is converted to halfway through of the 18th century in a city of great importance by its cultural, social, maritime, and economic development.

2008-11-04T04:39:00.000-08:00

Puerto Plata

The North Coast is the center of a third of the nation's hotel rooms, or more than 17,000. At the heart of this region, the city of Puerto Plata curves around the base of towering Mt. Isabel de Torres, whose pinnacle can be reached by an electrified sky lift system called the “teleférico”.

A manicured botanical garden dominated by an illuminated statue of Christ - a scaled-down version of the one in Rio de Janeiro - crowns its summit. More adventurous types can reach the summit on foot. The charm of Puerto Plata, the largest city on the North Coast, is enhanced by the extent and variety of its Victorian architecture, unrivaled by any other Dominican city. Stylistically, the gingerbread motifs, wooden 'lace' filigree, and pastel colors of its houses and public buildings convey the romantic aura of an earlier time, but functionally they house a tourist-oriented city's businesses, offices, shops, bars, restaurants and clubs.

History is also preserved here in the imposing San Felipe Fort, built by the Spaniards in the 16th century as protection against seaborne invaders. The fort, which was used as a prison until the 1960's, now houses a fine museum that documents its interesting history. Take time to see Puerto Plata's extraordinary Amber Museum, the Brugal rum factory, and the length of the Malecón, the lively seaside boulevard.

Attractions

Downtown Puerto Plata

Visit the city's central park, Parque Luperon, and make a stop at the picturesque church, Iglesia de San Felipe. Several inexpensive cafeterias are nearby, in addition to numerous stores specializing in local crafts. In downtown Puerto Plata you will find the last remaining Victorian gingerbread buildings - elegant 19th century structures which are quickly disappearing due to commercial development.

The Amber Museum

Located on the second floor of a Victorian mansion, the Amber Museum is perhaps one of Puerto Plata's best known tourist attractions. Open from 9:00 am until 5:00 pm, Monday through Saturday, the Amber Museum features collections of fossilized resin (Amber), some of which contain remarkably preserved specimens dating back thousands of years.

Mount Isabel de Torres

Undoubtedly Puerto Plata's most impressive geographic feature, 2,600 foot Mount Isabel is also a popular attraction for tourists and locals alike. After a seven minute cable car ride up the nearly vertical slope, visitors will find botanical gardens, a statue of Christ similar to the one in Rio de Janeiro, and a superb restaurant, in addition, of course, to breathtaking views of the city and surrounding sea.

Playa Dorada

Home to the majority of Puerto Plata's "all-inclusive" resorts, Playa Dorada features two golf courses, casinos, a shopping mall, and over 15 miles of beaches and the Home of the Sea Pro Divers Company. Although most of the property in Playa Dorada is private, the beach itself is open to the public and can be accessed at the end of the main road running through the complex.

The Brugal Rum Factory

Producing over a million and a half liters of white and dark rum each year, Brugal is the drink of choice for many North Coast Dominicans (with Barcelo being favoured in the South). Although no distillation actually takes place at the Brugal Factory, visitors are given a brief tour of Brugal's bottling operations and are treated to a refreshing drink featuring, but of course, Brugal rum. Open 9:00 am - noon & 2:00 pm - 5:00 pm, Monday through Friday. Admission is free.

The Malecón & Fort San Felipe

The Malecón is an ocean side road featuring numerous cafes and small restaurants. Although the small beach is not suitable for swimming, a leisurely stroll along the Malecón offers fresh ocean breezes and excellent people watching. The Malecón is especially popular on weekends and at night when road side vendors prepare small snacks and several discos blast music into the early morning hours.

Walking west along the Malecón will lead visitor to Fuerte San Felipe, Puerto Plata's only remaining colonial structure. Located on a small peninsula on Puerto Plata Bay, Bahia de Puerto Plata, it was at Fuerte San Felipe that Columbus had hoped to establish the first Spanish colony in the New World (the colony in Puerto Plata, however, did not last long and the Spanish resettled on the island's Southern Coast at Santo Domingo). The fort features a moat, historical artifacts, and a small museum.

2008-11-01T06:50:00.000-07:00

Dominican Tourism Growth in 2008

Between January and August 2,567,050 tourists visited the Dominican Republic, according to its Ministry of Tourism. This is a 4.5% increase compared to the same period in 2007, when 2,455,932 tourists visited.

Over half the tourists came through Punta Cana International Airport (54.7%), while the remaining amount came through Las Americas International Airport (19.3%), Puerto Plata (15.8%) and La Romana (5.5%).

A small number of tourists arrived by Santiago's central Cibao airport, or Isabela airport in Santo Domingo and El Catey airport in Samaná.

According to the Ministry of Tourism, the Russian tourist market grew considerably in 2008 with an 83% increase in Russian tourists compared to last year, Ukrainian tourism is up 11% and Polish tourism is up 92.5%.

From Latin America, there were also increases. There were increases from Brazil (up 32.5%), Ecuador (up 37.9%), Mexico (up 15.5%), Chile (up 44.8%), Argentina (up 38.1%) and Colombia (30.1%) as air links improved.

2008-11-01T06:48:00.000-07:00

Dominican all-inclusive hotels gain popularity

The Dominican Republic offers the best value of the top all-inclusive destinations, while Jamaica is starting to see lower rates, but it doesn't offer the quality and value of Mexico and the Dominican Republic, said Juan Aguirre, vice president of Miami-based tour operator MK Travelplan.

Airfare to the bigger destinations like Mexico and the Dominican Republic also tends to be lower, especially compared with islands in the eastern Caribbean.
Price and style vary significantly, from luxury boutique hotels charging $700 per room in low season to sprawling campuses with basic rooms that cost less than $200. "All-inclusive can mean anything today."

2008-10-24T06:27:00.000-07:00

Macroeconomy of the Dominican Republic

The decline in economic growth in the US is starting to make its impact felt on the Dominican Republic, with remittance growth slowing substantially during the first half of this year to 6.6%, compared to 13.9% during the same period a year earlier.

Measuring US$1.56bn during the first six months of 2008, we believe that remittances this year will struggle to substantially exceed last year's US$3.03bn figure. We believe that remittances could start to decline in 2009, as the impact of a US recession weighs on funds available for relatives to send home.

Not only will this negatively affect the Dominican Republic's current transfer balance, with the country's current account deficit set to widen to 11.9% of GDP in 2008 (from 6.1% in 2007), but we believe that real GDP growth will also suffer as a result, forecasting 3.4% growth in 2009.

Headline inflation in the Dominican Republic edged higher in December, bringing the end-year figure to 8.9% y-o-y, as food prices and energy costs translated into higher consumer prices.

Indeed, prices of food, non-alcoholic beverages and tobacco expanded by 8.8% y-o-y in December, up from 5.1% y-o-y in November and 5.8% during the same period a year earlier. The most remarkable upward trend, however, has been in transportation costs, with prices rising by an impressive 18.0% y-o-y, slightly down from a high of 19.2% y-o-y in November, and well above the 3.0% y-o-y increase in December 2006. We currently forecast inflation to average 7.4% y-o-y in 2008, and slow to 6.0% by year-end.

2008-10-22T06:17:00.000-07:00

Sugarcane

Sugarcane was originally from tropical South Asia and Southeast Asia. Different species likely originated in different locations with S. barberi originating in India and S. edule and S. officinarum coming from New Guinea. The thick stalk stores energy as sucrose in the sap. From this juice, sugar is extracted by evaporating the water. Crystallized sugar was reported 5000 years ago in India.

Around the eighth century A.D., Arabs introduced sugar to the Mediterranean, Mesopotamia, Egypt, North Africa, and Spain. By the tenth century, sources state, there was no village in Mesopotamia that didn't grow sugar cane. It was among the early crops brought to the Americas by Spaniards. Brazil is currently the biggest sugar cane producing country.

The methods of growing sugarcane and processing sugar were technologies transferred to China from India in the 7th century, during the reign of Harsha (r. 606–647) over North India and the reign of Emperor Taizong (r. 626–649) over Tang China. Two sugar makers summoned from leaders of Mahabodhi Temple traveled alongside a delegation of Buddhist monks to China, where they successfully taught the Chinese how to grow sugarcane and produce sugar.

A boiling house was used in the 17th through 19th centuries to make sugarcane juice into raw sugar. These houses were add-ons to the sugar plantations in the western colonies. This process was often conducted by the African slaves, under very poor conditions. The boiling house was made of cut stone. The furnaces were rectangular boxes of brick or stone with openings near to one side, and at the bottom to stoke the fire and pull out the ashes. At the top of each furnace were up to seven copper kettles or boilers, each one smaller than the previous one and hotter.

The cane juice was placed in the first copper kettle which was the largest. The juice was then heated and a little lime added to remove impurities. The juice was then skimmed then channeled to the other copper kettles. The last kettle, which was called the 'teache' was where the cane juice became syrup. It was then put into cooling troughs where the sugar crystals hardened around a sticky core of molasses. The raw sugar was then shoveled from the cooling trough into hogsheads (wooden barrels) where they were put in the curing house.

Sugarcane was, and still is, extensively grown in the Caribbean, where it was first brought by Christopher Columbus during his second voyage to The Americas, initially to the island of Hispaniola (Dominican Republic) . In colonial times, sugar was a major product of the triangular trade of New World raw materials, European manufactures, and African slaves.

France found its sugarcane islands so valuable it effectively traded its portion of Canada, famously dubbed "a few acres of snow," to Britain for their return of Guadeloupe, Martinique and St. Lucia at the end of the Seven Years' War. The Dutch similarly kept Suriname, a sugar colony in South America, instead of seeking the return of the New Netherlands (New Amsterdam).

Cuban sugarcane produced sugar that received price supports from and a guaranteed market in the USSR; the dissolution of that country forced the closure of most of Cuba's sugar industry. Sugarcane remains an important part of the economy of Belize, Barbados, Haiti along with the Dominican Republic, Guadeloupe, Jamaica, and other islands. The sugarcane industry is a major export for the Caribbean, but it is expected to collapse with the removal of European preferences by 2009.

Sugarcane production greatly influenced many tropical Pacific islands, including Okinawa and most particularly Hawaii and Fiji. In these islands, sugar cane came to dominate the economic and political landscape after the arrival of powerful European and American agricultural business, which promoted immigration from various Asian countries for workers to tend and harvest the crop.

Sugar-industry policies eventually established the ethnic makeup of the island populations that now exist, profoundly affecting modern politics and society in the islands.

Cuba is a major grower of sugarcane, which is used to produce sugar and provide the ethanol used in making gasoline-ethanol blends (gasohol) for transportation fuel. In India, sugarcane is sold as jaggery and also refined into sugar, primarily for consumption in tea and sweets, and for the production of alcoholic beverages.

2008-10-20T07:15:00.000-07:00

Dominican help allows faster recovery in Cuba

Havana.– The roofs of school and health facilities in eastern Las Tunas province (660 kilometers east of Havana city) are being repaired with 4,000 zinc sheets and 5,000 wooden strips donated by the Dominican Republic.

Granma newspaper reports that, just a few hours after the beginning of the fast and organized distribution of this aid, everybody agrees that it was the right thing to use those resources to repair these facilities severely damaged by Hurricane Ike’s winds that battered Cuba last September.

This decision, analyzed in the Civil Defense Council at the request of the provincial government, will benefit some 1,420 families whose children study in 13 schools currently being repaired.
Also being repaired are several senior citizen clubs in the Jesus Menendez, Puerto Padre and Manatí municipalities, as well as a maternity home and a dozen medical facilities.

2008-10-20T06:53:00.000-07:00

Dominican Rum Brugal now in the British Market

Dominican Rum brand Brugal is to be launched in the United Kingdom on trade this month. Distributed by Maxxium, the rum produced in the Brugal produced in the Dominican Republic is currently the fourth largest rum in Europe, with over one million cases being sold last year in Spain.

Two varieties will launch in the UK: Brugal Anejo Golden Rum and more premium product Brugal Extra Viejo Golden Rum. Maxxium is supporting the launch with a program of bar staff education, trade incentives and advertising.

The launch comes at a time of increased publicity around rum, with Rum Fest, Europe’s only festival dedicated to the spirit, taking place in London on October 25 and 26.

Brugal brand manager Karen Dobie said: “The launch of Brugal into the UK is very exciting. It will be a fantastic addition to the Maxxium brand portfolio and that of our trade customers. We feel the brand authenticity and heritage will really resonate with consumers and provide them with an authentic taste of the Caribbean.”

2008-10-16T06:37:00.000-07:00

Santo Domingo (city, Dominican Republic)

Formerly Ciudad Trujillo, largest city, chief seaport, and capital of the Dominican Republic, in the southern part of the country, capital of the National District, on the Caribbean Sea. Located at the point where the Ozama River flows into the Caribbean, the city has a fine artificial harbor accessible to most commercial and passenger ships. It is connected by both ship and airlines with principal points in North and South America and is at the hub of a network of modern roads.

Santo Domingo is a tourist, economic, and administrative center. Points of interest include the Cathedral of Santa Maria la Menor (built 1514-1520), believed to contain the remains of Christopher Columbus; the ruins of the palace of Columbus's brother Diego; 16th-century churches, such as San Nicolás and San Francisco; and the fortified walls of the original Spanish town. Educational and cultural institutions include the Autonomous University of Santo Domingo, dating from 1538 and said to be the oldest university in the Americas, and Pedro Henríquez Ureña National University, established in 1966.

Founded in 1496 by Bartholomew Columbus, brother of Christopher Columbus, the city is the oldest European settlement extant in the New World. In 1930 it was heavily damaged by a hurricane but was subsequently rebuilt. In 1936 it was renamed Ciudad Trujillo for the Dominican President Rafael Leónidas Trujillo Molina. It became Santo Domingo again in 1961 after the assassination of Trujillo and the subsequent fall of his regime. In 1965 the city was the scene of an uprising against the ruling government of the Dominican Republic.

2008-10-16T05:55:00.000-07:00

Culture of the Dominican Republic

The first permanent colony of Europeans in the western hemisphere was established in the Dominican Republic. Santo Domingo was founded in 1496 by the brother of Christopher Columbus, was the first permanent city in the New World. Some of the old colonial buildings are still standing, fine examples of which are in Santo Domingo. The colonial center of Santo Domingo was declared a UNESCO World Heritage Site in 1990.

Art, music, and literature developed in part along Western patterns, with a strong African cultural component. The African heritage is especially notable in the country’s folk culture, particularly the music. The two traditions—African and Spanish—blend in the popular national song and dance, the merengue. Merengue music can be heard everywhere on the island, and every summer Santo Domingo holds a two-week merengue festival at which the world’s finest merengue bands and merengue dancers appear.

Most of the country’s major cultural institutions are in Santo Domingo. They include the Museo de las Casas Reales (Museum of the Royal Houses), a museum of colonial life; the Museo del Hombre Dominicano (Museum of the Dominican Man), with exhibits on pre-Columbian life on the island; and the Museo de Arte Moderna (Museum of Modern Art), with works by Dominican artists. The National Aquarium and National Botanical Garden, also in Santo Domingo, feature impressive displays. Puerto Plata on the north coast of the island has the Museo de Ambar, which displays unusual pieces of Dominican amber with plants and insects and other animals embedded inside them.

Among the country’s most beloved writers is Salomé Ureña de Henríquez, who is considered a national poet. She lived in the second half of the 1800s and in 1881 organized the Instituto de Señoritas, the first Dominican center of higher education for women. Her two sons, Pedro and Max Henríquez Ureña, became distinguished Latin American writers and thinkers.

Other Dominican writers include Gastón Fernando Deligne, a modernist poet of the late 1800s and early 1900s; Fabio Fiallo, author of delicate love lyrics in the early 1900s; Manuel de Jesús Galván, author of Enriquillo (1882), a historical novel based on an early Native American revolt against the Spaniards; and Manuel del Cabral, a versatile 20th-century poet whose work showed his strong sympathies with the country’s impoverished blacks.

Juan Bosch, president of the republic in 1963, was also the most distinguished Dominican writer of the mid 20th century, well known as a novelist, short story writer, and essayist.

Joaquín Balaguer, the republic’s president from 1986 to 1996, was also an accomplished writer on many topics. Much of the best known Dominican writing today comes from Dominicans who have emigrated. Julia Alvarez, who moved with her family from the Dominican Republic to New York City at the age of 10, has written about the collision of the two cultures in such works as the novel How the Garcia Girls Lost Their Accents (1991) and the children’s book How Tia Lola Came to Stay (2001).

2008-10-10T10:41:00.000-07:00

Cabarete Windsurfing & Kitesurfing

Cabarete hasn't been known as a windsurfing destination until the late 80's, but in the recent years it has become very popular thanks to its wonderful conditions for windsurfing and kitesurfing. The Eastern Trade Winds provide strong and consistent wind all year round. The water is warm all year round, so there's no need to bring your wetsuit.

All windsurfing centers in Cabarete are located right in the Bay for easy rigging and direct launch from the beach at their site. You can rent gear, store gear, purchase gear and take every level of instruction from each windsurfing center.

In the morning wind conditions in Cabarete are good for beginners or children: the wind is very light and the water tends to be flat. In the afternoon the wind increases for intermediate and expert level windsurfing, and blows until 6 p.m. The normal wind direction is South-East, cross offshore.

Cabarete Bay has a sandy bottom, with only a few spots of reef in the inner bay that are quite easy to avoid. The offshore reef is about 600m away from the beach. The great advantage of Cabarete windsurfing is that here in one place you have two types of sailing conditions - waves and flat water. Beginners and intermediates will feel comfortable inside the reef, where flat water (or chop sometimes) are optimal for learning and practicing new elements. More ambitious windsurfers can go to the reef for wave sailing.

During the winter windsurfing season (December to April), the wind is less constant but wave freaks can ride down reef waves up to 4 m in height. This period is great to learn and practice wave sailing. Average sail size for mid-sized Male: 5.7m2.

The period from June to September is the summer windsurfing season in the Dominican Republic. The wind tends to be stronger than in winter. Waves are not as consistent as in other periods, but flatter waters are great for slalom sailing. Average sail size for mid-sized Male: 5.3m2.

The months of May, and the period from October to the end of December, are less reliable in terms of sailing conditions. It can vary from not very good to excellent, depending on the weather systems moving through the area.

2008-10-10T10:34:00.000-07:00

Diving in the Dominican Republic

The dive spots of the Dominican Republic is a heaven for an experienced diver, and also a good place to start diving. The weather conditions, warm waters and good visibility, allows to dive all year around. The undersea world has excellent reef diving, good visibility, warm waters, wrecks, caverns and marine life offering a wealth of diving experiences around the island.

The marine life is very diverse: there are hundreds of tropical fish, coral and plant life. The grouper and porcupine fish are amongst frequently spotted fish.

Magnificent and brightly-colored fan coral are habitants of the iridescent reefs with illusive visitors like whale sharks, mantas, and the cheerful dolphins. Other mammals like the Manatees are found in the endless mangrove forests and lovesick humpback whales in the Bahia de Samana in the season.

Diving conditions in the Dominican Republic

The Dominican Republic has primarily tropical climate, with more local variations in temperature than seasonal ones. Visibility can be expected to be between 50 and 100 feet (15 - 30m) and the average water temperature is between 25-29°C (76-82°F). Recommended insulation is a thin lycra suit or a 3mm “shorty” wetsuit for snorkeling and diving. For rainy days and multiple diving a 3mm full wetsuit is necessary.

2008-10-10T10:31:00.000-07:00

Rafting and canyoning in the Dominican Republic

Rafting
River rafting in the Dominican Republic takes place in the mountains of the Cordillera Central along the country's longest river, the Yaque del Norte. The river is considered to be a quite technical one, and rafting here is more interesting in wet months of the year, with plenty of water.

The majority of companies, organizing rafting tours, are based in the town of Jarabacoa. Rafting boats are usually big enough for about eight people. Life jackets, helmets and wet suits are provided by a rafting company.

Canyoning
Canyoning (frequently referred to as "canyoneering" in the United States) is a fascinating form of outdoor activity, including hiking, climbing, jumping, swimming and rappelling to the bottom of a river canyon - in other words, all actions you have to do to get from Point A to Point B. The aim of canyoning is to overcome the obstacles you meet on your way.

Canyoning can be done in any place with suitable and challenging terrain. Mountain rivers of the Dominican Republic are perfect for this activity.
The equipment you need for canyoning includes a helmet, wet suit, harness and ropes. All these things are usually provided by companies that organize canyoning tours.

2008-10-10T05:21:00.000-07:00

Golf in the Dominican Republic

Dominican Republic has become an extremely popular golf destination due to a combination of outstanding year round summer weather and the varied terrain. Golfing in the Dominican Republic is a pleasure both for serious and recreational players. It's difficult to say what season is the best for golf - thanks to the tropical climate golfers are able to play all year round.

Many of Dominican golf courses are located along the coastline and provide magnificent views of the ocean. Hills and coastline are incorporated into the design to challenge the golfers.
The majority of the golf courses are located in resort areas. Golf packages of any kind are available at resorts around the Dominican Republic. The golf packages usually include room, meals, and drinks, include green fees and cart rentals. Many golf resorts provide clinics and lessons. Some of them host annual tournaments.

Dominican Republic Golf Clubs

Barcelo Bavaro Golf
This golf course is part of the Barcelo Bavaro Resort complex. It is is flat, very playable, usually in excellent condition.

Number of Holes: 18

Length of Course: 6,376 yards Bavaro

Guavaberry Golf and Country Club

Guavaberry Golf and Country Club is located just 20 minutes from the Santo Domingo airport and less than a 10 minute drive from Coral Costa Caribe Beach Hotel.

Number of Holes: 18

Length of Course: 7,156 yards

Las Lagunas Country Club

Las Lagunas Club is widely spread over hilly terrain and offers scenic views. It is located in a 15-minute drive from Santo Domingo.

Number of Holes: 18

Length of Course: 6,800 yards

Los Mangos Golf Course

Los Mangos Golf Course is located only five minutes from Puerto Plata. Golfers play among tropical fruit trees.

Number of Holes: 9

Length of Course: 3,300 yards

Innovative and challenging sea-fronting golf course, designed by Pete Dye. Golfers will enjoy great ocean and panoramic views.

Number of Holes: 18

Length of Course: 7,150 yards

The Teeth of the Dog

This world renown championship course is designed by Pete Dye and ranked 28th of top 100 golf courses in the world by Golf Magazine (September 1999). In fact, it is the only Caribbean golf course included in the ranking.

Number of Holes: 18

Length of Course: Men 6,888, 6,057, 5,571/ women 5,571, 5,041 Casa de Campo, La Romana.

2008-09-29T08:10:00.000-07:00

Dominican Republic Tourism Up 6.55% In First Half Of 2008

According to a recent report issued by the Dominican Republic (DR) Ministry of Tourism, overall visitors to the DR in the first half of 2008 increased by 6.55 percent compared to the same period in 2007.* Approximately 2.2 million guests selected the DR as their vacation spot of choice in the first half of 2008.

According to Central Bank of Dominican Republic (http://www.bancentral.gov.do/), as of July 31, 2008, there were 2,602,675 visitors to the DR, a 3.81 percent increase compared to the same period in 2007.

The U.S. continues as the largest visitors market with 32.2 percent followed by Canada at 22.6 percent, France with 9 percent, Spain with 5.7 percent, Germany with 5.6 percent and UK with 5 percent.

The most popular destination remains Punta Cana. The region’s international airport received approximately 53.5 percent of 2008 first half arrivals followed by Las Americas in Santo Domingo.

Puerto Plata International Airport received approximately 16.6 percent of the arrivals, followed by La Romana with 6.06 percent.

Affirming the DR’s popularity as a growing tourism destination, JetBlue will launch its first intra-Caribbean service with daily nonstop service between San Juan, Puerto Rico and the DR beginning Dec. 18, 2008. “The DR is dedicated to supporting JetBlue’s efforts to provide the Caribbean with additional air service,” said DR Vice Minister of Tourism Magaly Toribio. “JetBlue’s new flights to our capital city, Santo Domingo, will help meet the growing demand of visitors and enhance our collective economies.”

JetBlue will also offer nonstop service between Boston and Santo Domingo, with a once-daily "holiday shuttle" in December and January. The airline will bolster its frequency between John F. Kennedy International Airport and the DR by adding a fourth daily flight to Santiago, a third to Santo Domingo, and a second to Puerto Plata over the holiday season.

Delta Airlines will also add flights to the DR this winter with daily service from Atlanta to Puerto Plata beginning Dec. 20 and continue indefinitely. A second daily flight from Atlanta to Punta Cana will begin Dec. 20 - Jan. 4 and Feb. 14 - Apr. 19, 2009. Finally, Delta will add a second Saturday flight from Atlanta to Punta Cana International Airport beginning Jan. 5 - Feb. 12 and Apr. 20 - June 30, 2009.

Rich in history, the Dominican Republic’s first tourist was Christopher Columbus in 1492. Since then, it has developed into a diverse and luxurious destination offering both Dominican and European flavors to more than one million U.S. visitors each year. At 10,000 feet, the Dominican Republic is home to the highest point in the Caribbean. It also features some of the best golf courses and beaches in the world, the largest marina in the Caribbean and is a chosen escape for celebrities, couples and families.

2008-09-24T10:01:00.000-07:00

Government and legislation in the DR

The Dominican Republic is a representative democracy whose national powers are divided among independent executive, legislative, and judicial branches. The president appoints the cabinet, executes laws passed by the legislative branch, and is commander in chief of the armed forces. The president and vice president run for office on the same ticket and are elected by direct vote for 4-year terms.

Legislative power is exercised by a bicameral congress : the senate (30 members), and the chamber of deputies (120 members). Presidential elections are held in years evenly divisible by four. Congressional and municipal elections are held in even numbered years not divisible by four.

2008-09-24T09:24:00.000-07:00

The legal system in the Dominican Republic

The Dominican Legal System, derived from laws or statues known as Napoleonic code, which were introduced to the country during the period from 1822 to 1844, when Haiti maintained political control over the entire island of Hispaniola (following the revolt and freedom from Spain in 1821). To be sure, the influence of French government and ideals goes deeper than just this period. France actually controlled the present day Dominican Republic during different periods of its history, so it is not so unusual to find this Spanish speaking country with a legal system based upon the French model.

The legal system then is that of Civil Law and not Common Law. For a generalized comparison, this means that judges hear and decide cases, not juries. The courts are comprised of the following:

Peace Courts: this really can be called a sort of generalized civil court, designed to hear small cases and those cases of a minor nature. The cases heard in a peace court are presented in front of a judge, who has the responsibility of hearing the case and rendering a verdict. For the most part, since each district has it's own peace court, we can say that this is the first level court to hear local matters and disputes.

Courts of First Instance: Like the peace courts, there is only one judge assigned to hear and decide a case. These courts are more specialized than the peace courts and are broken down into chambers according to the nature of the case being heard. As an example, there may be separate chambers for civil matters, criminal and commercial matters. To highlight the difference between this and the peace courts; a dispute with your neighbor over his dog tearing up your garden will be heard by a peace court. A dispute over legal land title or a more serious criminal matter would go to a court of first instance.

Appeals Courts: Consisting of a five judge panel, the appeals courts have the responsibility to hear cases or verdicts previously rendered by a court of first instance. In simpler terms, if you disagree with the judgment presented by a judge in the court of first instance, you may appeal your case to the appeals courts.

This system is quite different than the American System, in that there is a panel of five judges who must collectively render a decision on a case and decide if the judge in the courts of first instance was correct or not in his decision.

Supreme Court of Justice: Consisting of a 16 judge panel, the Supreme Court has the responsibility to hear cases decided upon in other courts. The Supreme Court however can only review a case whereby the interpretation of the law is in question.

2008-09-23T06:26:00.000-07:00

History of Constanza city of the Dominican Republic

The name of Constanza has its origin in the legend the daughter of a local taino cacique whom lived in the valley. In 1852, the British explorer and consul Sir Robert Hermann Schomburgk mentions the existance of a farm in the valley of Constanza. The town was formally founded in 1894. In September 9, 1907 the town was incorporated into a municipality in the province of La Vega.

In 1955, the municipality of Jarabacoa and the municipality of Constanza were made into a province called Jarabacoa with Constanza as it's capital. It was named Jarabacoa because of the river that passed the 2 municipalities.

On June 14, 1959 a plane landed in an airstrip with more than forty rebels with the purpose of deposing the dictator Rafael Leonidas Trujillo Molina. They fought in the nearby mountains, and after two months against the Dominican Army managed to end the rebellion.

From this mountain destination with cool temperatures and scenic beauty, many of our fruits and flowers come from this region.

2008-09-19T10:45:00.000-07:00

In love with the Dominican Republic??

First time visitors to the Dominican Republic must be warned - there is a very big chance of falling in love with this country, a love affair that may last your lifetime!
The Dominican Republic is a very large island and depending on which airport you fly into you will be able to access different parts of the island easily.

Santo Domingo is the capital and the first city of the "New World". It offers some great historical sites and dining/nightlife.

To the East of Santo Domingo are the famous beaches of Punta Cana perfect for a holiday of white sand, palm tree lined beaches.

The center of the island is home to "Pico Duarte" - the highest mountain in the entire Caribbean. It's excellent for hiking.

The North Coast, or Amber Coast, of the Dominican Republic offers beautiful beaches in Puerto Plata, Sosua, and Cabarete. Cabarete is a kiteboarding and windsurfing capital of the world, one of the best places on earth to practice these fun water sports.This country is perfect for dancing salsa, drinking rum, and enjoying the relaxed island lifestyle!

2008-09-17T09:14:00.000-07:00

Dominican Republic Family Paradise

The Dominican Republic is a family paradise destination. Perhaps overlooked, but still a paradise. There are a number of all-inclusive resorts in the area, which feature activities for adults as well as children, and tons of kid-friendly activities throughout the region.

If you’re staying at a beachside resort, many children will be entertained for days playing on the sand, and perhaps enjoying snorkeling and swimming. If it’s the right time of the year (January to April) take a boat tour to do some whale watching. Your kids will be the envy of all their friends.

A hugely popular activity in the Dominican Republic is horseback riding. This is a great activity for the school-age child who wants a little more excitement in his or her day than sitting beachside. Many of the horseback facilities in the Dominican Republic use Creole horses, who are trained to move slowly especially for children and who are known for their tameness.

Also for older children, there are a number of memory-creating activities to be found here. How about ocean kayaking? Many resorts will offer the equipment for free, or if you’re not staying there, for a small fee. Also popular are visits to cascading waterfalls, going canyoning (better for older children as this involves strenuous physical activity) and mountain biking.

2008-09-17T08:09:00.000-07:00

What to do in the DR

Dominican Republic offers a wide variety of day trips, excursions, tours and attractions. Going all the way from, horses, waterfalls, fishing, diving, jeep tours and tons of other things to do and amazing places to visit.

Get out from your resort for whale watching in Samana, check out Santo Domingo city, or check out the national park on Saona Island.

Excursions: Go to the plaza and bargain for your excursions by choosing several. Listen to their offers, and then bargain to see if you can improve upon it .

Cabarete, offers many sport experiences, wakeboarding, kiteboarding, surfing and much, much more.

You can also take the city tour. A guide will pick you up when you request it and you will see Puerto Plata town, the rum factory, amber museum, take a cable car to the mountain top, the fort, a plantation, the Market, Central Park, the baseball stadium, local homes and all of the things like traffic and the real way of life.

You can stop at a cigar place and roll your own cigars. Buy rum in the factory and souvenirs in the market such as paintings, things made from cow horns, statues which were made in Haiti, cd's, amazing hand designed photo albums, t-shirts, beach bags with shells etc.

You can also visit Ocean World Dolphin Swim and as they say it is an experience of a lifetime. The charge of $145 includes a lunch (but no drink) and transportation to and from the hotel in a bus and access to all the shows and the snorkel reef, beach and pool.

The sea lion show is fun - these animals are intelligent and they are great. They also have shows with birds, dolphins and sharks. And the dolphin swim is terrific. You can purchase the pictures after for about 10$ each but you can also carry your camera. The gift shop has great stuff at affordable prices.

There are also good excursions for a Safari which also goes to the waterfalls, a Catamaran ride and a visit to Paradise Island.

2008-09-16T10:56:00.000-07:00

Santo Domingo

Despite boasting a rich cultural, architectural and artistic heritage, Santo Domingo has not been exploited for all its tourist potential. You're pretty much on your own to discover this fascinating city. Make the most of your time there.

Colonial Zone

Santo Domingo was the first major european settlement in the New World. Christopher Columbus walked these streets! Check out the many examples of 15th and 16th century architecture in the Colonial Zone. Don't miss the Ozama Fort, the Alcazar de Colon and the Cathedral, all built in Columbus' lifetime. Check out La Atarrazana street after dark for a variety of romantic outdoor cafes with a spectacular view of the Alcazar and bay area. One such brasserie, Pat E Palo, has operated uninterrupted since 1505. Check out the house where Ponce DeLeon lived before he embarked upon his quest for the fountain of youth and ended up discovering Florida.

Malecon

This waterfront boulevard (George Washington Avenue) is home to several huge hotel/casino complexes and dozens of small restaurants, clubs and cafes. Go there to people watch, take a romantic carriage ride or just have a few beers. Site of many festivals and concerts throughout the year. Parallel to the Malecon you will find Avenida Independencia, a tree lined street full of shops, bed and breakfasts and affordable restaurants with a nice mix of locals and tourists. For a unique dining experience check out Adrian Tropical, a traditional Dominican restaurant literally built on the water, or San Gil, a more formal eatery occupying the ruins of a colonial fort. The Malecon Center, located on the far end of the Malecon, is a new and still underoccupied high-end shopping center/hotel/condo complex with a Botero sculpture out front that reportedly cost US$1 million.

Plaza de la Cultura

Walk all the way down the Malecon to Avenida Maximo Gomez and take a left. Walk past the McDonald's and Pizza Hut until you reach the Plaza de la Cultura. This amazing complex is home to the National Theater and five museums, ranging from the delapidated and mundane, to the crisp, modern Museum of Modern Art, the largest in the Caribbean and home to exhibits by artists from Jamaica, Bahamas, Puerto Rico, and of course, the Dominican Republic. If want a nice beautiful garden to read or talk this is your place also.

Upscale Santo Domingo

If you want to see the cosmopolitan, upscale side of Santo Domingo, head to the Piantini and Naco neighborhoods. Streets like Gustavo Mejía Ricard and major avenues like Abraham Lincoln and Winston Churchill are lined with high end boutiques, shopping plazas, expensive cafes and restaurants offering a huge variety of international cuisines and just about anything money can buy, from cigar shops to Ferrari and Bentley dealerships. Don't miss Acropolis Center, an ultra-modern shopping center/office building where you will find everything from TGI Friday's to Prada.

Eco-Tourism

Find your way to the Parque Mirador Sur, an impressive park overlooking the coast. From there, visit the Jardin Botanico, a vast, beautiful and lush park situated near one of Santo Domingo's most exclusive neighborhoods.

Eastern Santo Domingo

Refered to as Santo Domingo Oriental, this separate municipality is not very tourist-friendly. Fortunately, most of its attractions are very close to the Colonial Zone and easy to get to. Check out the Tres Ojos, or Three Eyes, a series of open-roof caverns and underground lakes for the whole family to explore. Head over to the Faro a Colon, a huge lighthouse and monument to Christopher Columbus which not only houses his remains but doubles as a museum. Check out the Santo Domingo Aquarium, a small but impressive showcase of the local aquatic life.
Beach
Unfortunately, there isn't a beach in Santo Domingo, despite being on the water's edge. The closest beach is Boca Chica, which is about a half hour away, just past the airport and shipping port.

Museums

In the Colonial Zone:

Alcázar de Colón - Visit this stunning villa, built in 1510 and retaining period furnishings and other items owned by Governor Diego Colón, first-born son of Christopher Columbus.

Naval Museum of the Atarazanas Located across the plaza from the Alcazar de Colon on Calle Atarazana, the oldest street in the Western Hemisphere.

Museum of the Casas Reales Another great museum featuring collections depicting life in 16th century Santo Domingo. Located on Calle Las Damas, walking distance from the Alcazar de Colon and the Naval Museum.

World of Ambar Museum An impressive collection of Amber stones and aksd

Museum of Duarte A collection of artifacts and writings regarding the Dominican Republic's founding father, Juan Pablo Duarte. Located on Calle Isabel La Catolica, a few blocks west of the above museums.

Museum of Natural History

Museum of Dominican Man

Museum of Modern Art

National Museum of History and Geography

2008-09-16T10:29:00.000-07:00

BUSINESS IN THE DOMINICAN REPUBLIC

Main imports: Food, petroleum, cotton, chemicals and pharmaceuticals.
Main exports: Ferronickel, sugar, gold, coffee and cocoa.
Main trade partners: Spain, Canada, Colombia, Japan, Mexico and USA.

Economy

Agricultural cash crops and the mining industry form the basis of the Dominican Republic's economy and are the country's main export commodities. Other industrial investments are food, drinks, chemicals and the refining of imported oil. Tourism now is contribute number one in this country. The economy experienced some problems with growth and unemployment in 2003. At the same time, the Dominican peso lost a third of its value against the dollar. (A major cause was the collapse of the international sugar market.)

Strict fiscal targets agreed in the 2004 renegotiation of an IMF standby loan helped President Fernandez stabilise the country's financial situation. The economy is growing respectably but unemployment remains a difficulty. Another problem is income inequality; the poorest half of the population receives less than one-fifth of GNP, while the richest 10% has nearly 40%. The country relies on substantial foreign aid. The Dominican Republic is a member of CARICOM, the major regional trading bloc.

Business Etiquette

It is usual for businesspeople to dress smartly and to deal formally with each other at first, although the general atmosphere is informal. Spanish is the main business language and a knowledge of it will be of assistance. Hotels can usually assist with interpreter services.

Office hours: Mon-Sat 08:00-12:00 and 14:00-18:00.
Government office hours: Mon-Fri 08:00-15:00.

2008-07-03T06:13:00.000-07:00

The Dominican Republic important destination for visitors from Switzerland

The secretary of Tourism, Felix Jimenez, reported that Dominican Republic has become an important destination for Swiss visitors.

At a press conference conducted in Zurich, Switzerland, the official stressed that a sample of that attraction is the fact that tourism from that nation grew 7.2% in the first five months of this year and 25% in May and visited the Jimenez other nations during a tour of Europe in pursuit of strengthening bilateral ties and make known the initiatives of the Dominican Government through the Committee on Infrastructure Development Bank Holiday Resorts (Ceiztur).

He referred to the project of the Hot Springs salamander in Canoeing, Barahona, which involves an investment of about 25000 million pesos, whose completion is expected by 2012. The complex will have about 1000 rooms, convention center, tennis courts suitable for international competitions and hot springs for body treatments, the official elaborated.

He pointed out projects which will boost the hotels such as Westin Roko Ki, which will open at year's end, the Sanctuary Cap Cana, Ritz Carlton and the Four Seasons in La Romana. He recalled that the Government, through the Sectur, has earmarked U.S. $ 450 million to improving tourism infrastructure and another $ 650 will be invested in the next biennium.

The best way to be close to the progress of purchasing Dominican Republic is already gaining from its real estate.

2008-07-03T06:04:00.000-07:00

Touristic Proyect in Luperon creates 4 thousand jobs, invested 1.2 billion U.S. dollars

The company Terriomax Holdings will invest 1.2 trillion dollars in developing the resort Punta Alma projecting lift on the left bank of the Bay of Luperon, which generate more than four thousand direct jobs.

The information provided the project manager, the employer Lenin Fernandez, who said that the project will create the stable and strong economy in this county, in which Christopher Columbus founded in late 1493 La Isabela, First Villa erected in America. Fernandez revealed that the resort will be built in an area of nine million square meters will be lifted and where hotels and villas, with more than two thousand rooms and a golf course of international quality with 18 holes, 9 of which are front the sea.

He revealed that the land was purchased from the successors of the landowner and the landowner Bros. Omar Felix Vasquez in the amount of U.S. $ 80,000,000.00, already got the license and environmental tourism alone is expected to grant construction permits and granted exemptions that 158 law gives this type of project.

The executive of the project, announced that the tourist enclave will have a marina with a capacity of 200 luxury super yachts up to 250 metres, which will be built the left bank of the Bay of Luperon, regarded as the third surest throughout the Caribbean. Fernandez said that Lenin Punta Alma will also have a stadium for practice polo, an equestrian center, several beach clubs and a spa destination.

He said that a hospital will be built which will have the services of specialists Dominicans and Americans, an electric generator, plant wastewater treatment and more than fifty different types of businesses to provide services to tourists staying there. Similarly, it will have cable service, telephone, Internet and other services, to ensure total comfort to the guests, which will have a 10 times higher purchasing power of possessing tourists who stay in hotels all included in the north and other touristic places in the country.

Fernandez revealed that each village will occupy a site with a minimum of 4 thousand square meters and preserve the environment for visitors to enjoy the nature of space will be built soon this resort that will have the highest standard of quality of Dominican Republic. He noted the quality of Punta Alma will be so high, which may compete with the best tourist projects in Mexico, Costa Esmeralda, Europe, Australia, the Maldivian islands and other areas of the world, with a beautiful nature.

The executive director of Punta Alma conditioned the construction of this project to the Environment, Tourism and other agencies of State granted permission to the company Isabela Cement and Aggregates to build cement in the northeast where it lifted the resort valued at 1.2 trillion dollars. "I do not oppose the construction of the cement in another place, where not affect our project and other investors that Dominicans and foreigners executed in Luperon, La Isabela, La Ensenada and Punta Rucia, but promoters of the Cement want face to face at sea and that can not afford, "alerted.

Recommended that this company is built in a remote location several miles from the sea, where it is not and that in the event of a spill of fuel by the collapse of one of the boats that transported the cement and aggregates does not affect the environment.

2008-06-30T09:30:00.000-07:00

INFOTEP Celebrates Exhibitions in Sosua

The Institute of Technical and Vocational Training INFOTEP as a body to regulate and coordinate all efforts to prepare manpower to meet the needs productive national jointly with the support of the Strauss Foundation, Casa Marina Hotel, Hector Vazquez, among others, has been developing in the town of Sosua a program of technical training especially for the most needy population and on this occasion graduated 70 people from different sectors of this county.

According to German Strauss Chairman of the Foundation two groups of pastries and one of Pedro completed to prepare for leave to fish, "I never believed in who is preparing to give him a fish, teach them to fish is better because now in its there will be another household income without the need for the mother has to go out and leave their children alone in the midst of so many dangers ¨ said Don Cecilio Mercedes CEO of Casa Marina felt that this is a good step forward for the town itself our people are prepared for social quality improvement and our employees then would be closer "added the possibility of storing the curriculum of each graduating if offered by the need servicing the newly acquired skills.

Proudly Professor Ramon Emilio Aguirre received a plaque in appreciation of their students hand it also recognized the great work of Hector Vazquez Director of Civil Defense who is always aware that students have returned cash to begin serving a village Orphan of municipal authorities who worry about the development of its people,’ the great work it is doing the INFOTEP in the town of Sosua should have the support of municipal authorities and through them to the secretary of education that can yield a place to prepare a suitable space for preparation of the people suggested `` In that same order Colonel Dionisio Lopez, and Mayor Solis Lic. Rita Capellan expressed their congratulations to the graduates then by tasting the delicious delicacies that men and women of Sosua prepared on this day.

2008-06-23T06:30:00.000-07:00

Dominican Republic offers multiple benefits, ways to live and invest

Many foreigners dream of finding an activity in the Dominican Republic in order to transfer to this country. Few know that the Dominican Republic offers various investment opportunities at all levels. That does not mean that success is guaranteed, but with some precautions you can do good business and live in the Caribbean!

The Dominican Republic is one of the most stable countries in the Caribbean and Latin Americas, has a strategic geographical location and low cost of living and working alongside the laws to promote foreign investment makes it extremely attractive to those seeking safety and high profitability. In the case of buying and selling real estate, there is no restriction for foreigners regard to the purchase of properties in the Dominican Republic.

In the 1998 presidential decree 21-98 established that foreigners could freely buy all the properties they wanted, along with the title of possession. The new law on freedom of taxes refers to tourist areas with strong potential that need development. Companies that meet certain characteristics will be exempt from taxes for a period ranging from 3 to 10 years. In addition, all benefits can be expatriates to any country in the world.

There are several options for acquiring real estate for people who want to find the perfect place, we at Vico Real Estate specialize to for fill the demands of our foreign clients in the Dominican Republic.

2008-06-20T06:00:00.000-07:00

Cabarete is the scene of the World Cup Kite boarding

According to Lawrence Sancasani, organizer of the world; this represents an extraordinary attention to Cabarete, making for one week in the capital of kite boarding. It links between the collateral benefits; promotion in terms of sports tourism, the area receives in European countries, USA, South America and Asia, in that order and adds that the entire area of Cabarete is occupied by 90 per cent of their 3500 rooms available.

Promoters also reported that freelance means of Norway, Switzerland, Germany, Holland, England, USA, Spain, Poland, Russia and Brazil, are in the area, reporting to their respective countries. To quote the coming major corridors in the world after the world title this year allocated 45 thousand U.S. dollars prize for both male and female branch.

"Our strong in the area is tourism sports to see the deployment in the international media about the qualities that the area exhibits, are motivated to visit, not only for this event, but also to hear the sport and settle in the area" .

On the other hand, kite boarding schools have a dominant presence in the area since the rise of kite worldwide. It is believed that five thousand people have settled in Cabarete, in the 8 years that global competition leads to take place in the PKRA. "A lot of people come in search of knowledge and expertise necessary to practice kite on our beach, considered among the 3 best in the world to practice this sport," says Sancasani.

In Vico Real Estate you have a special place to enjoy the kite boarding competition, contact us!

2008-06-19T06:22:00.000-07:00

Tourists are entitled to reimbursement of value added tax (VAT)

Any visitor to the European Union, who resides in a country not a member of this group, is entitled to reimbursement of the so-called value added tax (VAT) on their personal purchase, as long as it reaches a minimum of 90.15 Euros (including taxes ) In the same store. This right extends to those who reside in the Canary Islands, Ceuta, Melilla and Andorra.

"You are entitled to reimbursement of I.V.A. when leaving the European Union within three months following the month in which the purchase was made, "cites a pamphlet Premier Tax Free. A publication of El Corte Ingles indicates that the amount corresponding to the rate levied on goods, lessening the amount of transaction costs and management, provided that the total amount of the purchase exceeds the amount established by current legislation.

The rate of I.V.A. in Spain, as understood, is 16 percent on the net price, or 13.79 percent if calculated on the basis of the purchase price. However, the return is not automatic. It requires a strict but simple processing. Based on experience, provides management buying into a single store to be by department, offers a wide variety of merchandise (clothing, footwear, beauty products, etc.). Those can be achieved in the same business premises of the amount 90.15 Euros to opt for reimbursement.

Every day there are more facilities for tourists who visit us, that’s why Vico Real Estate is responsible for ensuring the property acquisition.

2008-06-18T06:39:00.000-07:00

Puerto Plata exhibits new aspect which contributes to more tourists visiting this destination.

The liquidator Walter Musa said that the new aspect that displays the province, especially the city of Puerto Plata, in which rescue and development president Leonel Fernández has invested more than 5 billion pesos, which contributes to more tourists visiting this destination.

Musa went balance to the programme of works created by the current government in a press conference held last weekend to publicize the efforts of the Interior, the city council, Tourism and the Tourism Cluster to rescue the Historical Center. The municipal executive praised the selfless work being done by the team of institutions working in the rescue and revitalization of the historic center of this city, which is composed of people who hurts Puerto Plata and want progress.

He recalled the investments made for the construction of sewerage system, the regeneration of the beach at Long Beach pier reshuffle, the avenue Manolo Tavárez Justo, the settlement of avenues and streets of downtown and outlying areas. However, he noted that such works are not sufficient, since it requires the settlement of downtown Puerto Plata, which led to the asphalt of its streets since the first months of his arrival in the town.

He stressed the effort to solve the problem of water from Columbus Avenue, which is a work that no other receiver had dared to perform the difficult and costly for the budget of the council. It revealed that the area that this route is reconditioning to be stamped sidewalks and lights to complete a modern tourist corridor with the pier and the Avenue Manolo Tavárez Justo. He announced that the council has prioritized the refurbishment of city parks, plan that began with the rescue of Independence Square and the park will continue with Joe Smith of urbanization Gregorio Luperón.

He assured that after conclusion of this work is re-scaled parks Luperon, Regalado and Freedom Square and the family-Redondo Galan restored Plaza Juan Lockward from the malecon. Also, Walter Musa announced that the Bid Committee for granting the terminal loads of tourist and local port soon will announce the company chosen for its construction and operation. Musa informed during a press conference held on Thursday by the government, the city council, Tourism and Tourism Cluster that all these works and others that have built and continue building the council are important for tourism development in the city of Puerto Plata.

2008-06-14T07:25:00.000-07:00

Tourism in the Dominican Republic increased by 9.78 percent in May

The arrival of international tourists to the Dominican Republic grew by 9.78 percent last May compared with the same period of 2007, reported today by the local Ministry of Tourism. The agency said that in May there was an increase of 21.19 percent at the entrance to the country of travelers from Canada, and a 12.86 percent of U.S. travelers.

The information noted that 1,677,391 tourists entered the Caribbean nation in the first five months of the year, for an increase of 7.17 percent compared with same period last year. "The goal of the Ministry of Tourism is growing at four percent this year," revealed the body, which stressed that the Canadian market represents the second most important for the country.

In that sense, announced that 412,119 tourists from Canada have stepped on Dominican soil so far this year, so it is expected that after 2008 the figure reached a record of 620,000 Canadian tourists.

The Dominican Ministry of Tourism yesterday launched a series of meetings with private sector operators in order to face the consequences generated by the international crisis, oil prices and cutbacks in flights of the largest airlines in the world.

2008-06-12T07:02:00.000-07:00

Tourism provides changes in density parameters for golf courses and undeveloped areas, in the Dominican Republic

The Tourism Secretariat (Sectur) issued Resolution 01-2008, amending the parameters of population density applicable to golf courses and undeveloped areas of national territory, such as mangroves and swamps.

In its first section, the measure provides that "in projects with golf courses and hotels will apply the gross population density in the area, the area where establishing the hotel development, without considering the area's golf course, for density purpose.”

Also, "the golf courses, with operating real estate projects, will be applied to net area to develop, the density permitted in the zone, plus 30% of the total area of the golf course that net area for calculation density.” Slogan, moreover, that in hotel and real estate projects "with undeveloped areas, indicates the additional percentage, based on the following criteria, which will be added to the net area to develop:

Area not developed in % percentage increase
50% 30%
50% -25% 20%
Less 25% 10%

The promoters of these projects "must provide in both cases - golf courses and undeveloped areas - a level of current and potential use of the land, with contours, locating watercourses, wetlands, mangroves, pastures, forests, etc." Indicating square meters in the entire surface of the extension that correspond to each area useful.

That level "must be backed by a No Objection the Ministry of Environment and Natural Resources" and describe in detail "the system of reforestation or forestation allowing balancing the loss of tree" which resulted in the execution of the work, to preserve and increase the value of their biodiversity.

The resolution signed by the head of the Secretariat of Tourism, Felix Jimenez, relies on tourism legislation in force, which empowers this body to "regulate the construction, operation and tourist services, dictating the rules and parameters of development and its management harmonic, according to studies and recommendations.” Its antecedent, the National Plan spatial Tourism of the Dominican Republic (PNOTT) of 1991, drafted by the agreement IDB (Inter-American Development Bank) - Sectur.

2008-06-12T06:59:00.000-07:00

Investments of 3,750 million Euros in the tourism sector in the Dominican Republic over the next four years

The president of the Dominican Republic, Leonel Fernández, announced today in Barcelona the intention of a group of businessmen from the Balearic Islands hoteliers to invest about 3,750 million Euros in the tourism sector in this Caribbean country over the next four years.

In a meeting with the Dominican community in Catalonia, Fernandez explained that these entrepreneurs already operating in his country, and with whom he met last Friday, he expressed interest in expanding their business. In addition, Fernandez advanced to the Dominican government will build a railway linking the two major cities in the Caribbean country, Santo Domingo and Santiago.

Fernandez, who now begins his second consecutive term as head of government, also reported a second metro line in Santo Domingo. "It is our historic goal. A social and economic draft transformation, but in democracy," he said. Fernandez expressed his concern about the external crisis that threatens the world due to high oil prices, which in his view, "is the deepest crisis the world has ever known since the Depression of the 30's."

The Dominican president said the "Wall Street speculation," around a virtual shortage of crude in the year 2016 as a root cause of the current price of fuel, a crisis of prices that also linked with the scarcity of food. The president Fernandez, who referred to the community of Dominicans in Spain, expressed interest in providing solutions to the problems of integration faced by some children and youth.

In this regard, said that a solution will be sought among teachers and Dominicans Catalans to facilitate the integration of youth in the educational system in Catalonia. Also stressed that his government wants to expand to about 10,000 scholarships for training abroad of young talent, so that they can "return to the country and bring the knowledge learned." "We want to dignify the person.

You from Barcelona may play a key role. Confident in a better future, we returned to the national tasks. As the apostle St. Paul: 'Each day brings its desire'. We face the desire of every day to finish building a better Dominican Republic."

We help you to make your stay more comfortable and unforgettable we have the perfect property for you to live. (Here)

2008-06-09T05:18:00.000-07:00

Dominican Republic will have Strategic Development Plan

The country is doomed to prepare for August - September of this year a development proposal with the backing of businessmen, political parties, workers and civil society, and should be submitted to Congress next year.

This was stated yesterday by the secretary of Economy, Planning and Development, Juan Temístocles Montás, who said the nation is bound by law to define a development strategy for the next ten years. He recalled that the law creating the National System of Planning and Investment established that by June of next year the Dominican Government must submit to Congress a national development strategy, which would establish the direction the country for the next 10 to 20 years.

He explained that as this is a proposal that covers more than one presidential term, it leaves open the possibility it will eventually be able to go modifying some of the elements of the Strategic Plan Development. He added that the idea is to go breaking with the pattern of America's immediately from today to tomorrow and take into account where it should go towards the country.

She complained that always talks about the development of China, but there the political class are thinking about what will be his nation in the next 25 years, and have their goals set. For years, the Dominican business sector, politicians and workers have advocated an agenda for national development. Montás explained that the proposed strategic what we seek is that "we think in strategic terms a bit to where it should go the Dominican Republic in the next ten years."

He who on Monday presented a book in the National Palace on Dominican Republic 20-30 ", as well as a series of statistics since 1990 to date, which will be largely part of the elements to take into account in strategic decisions. Those statistics include a series of information related to the attitude of Dominicans respect the democratic process in the Dominican Republic. It also is awaiting more documents prepared by the World Bank and the Inter-American Development Bank on key aspects of economic affairs of the Dominican Republic.

2008-06-07T06:44:00.000-07:00

The Law on Registration real estate, property titles and their legal influence

In accordance with Article 91 of Law 108.05, ID numbers on the Register, a certificate is the official document issued and guaranteed by the Dominican State, which proves the existence of a property right and their ownership.

The certificate is a document essential because besides being a source of credit constitutes the basis and guarantee of property rights, was alone and as an official document authentic faith makes public its contents. It imposes before all courts in the court order in the country, for his feature "erga omnes", is an official act binding on all and hence the importance of obtaining it.

This document must be guarded as follows:

a. - The original certificate are guarded by the real estate jurisdiction,

b. - The original certificate should not be registering any registration or endorsements, except those expressly provided for him in law,

c. - To establish the legal status of the property, registration of title should ensure that all rights, charges and levies are included in a supplementary registration to the certificate of title,

d. - The duplicate certificate is a true copy of the original certificate and in the cases in question in co-ownership certificate is issued to each owner an extract,

e. - Regarding the legal status of the property and the validity of the duplicate, is credited by official certification issued by the registration of title and corresponding loss if the owner is required to submit a formal application pending before the registration or title together by an affidavit which it considers the publication in a newspaper of national circulation, as evidence of the loss or destruction of the document.

Article 95 of Law 108-05 refers to that part: "If there is any difference between the certificate and doubled prevails the original certificate." The legislation refers to "qualifying function", stressing that acts after the first record, can examine and classify its forms and other circumstances in the register of title, in accordance with the rules.

The registration of titles is only empowered to qualify aspects of form. As for the inscriptions and annotations referred to occur at the request of the interested party, with the requirement that must be the product of sanitation and must be supported by the level approved by the Directorate General Cadastre and measurable. In this case the registrar of title, for provision of the law, not proceed to register the transfer of any rights on the property in question, until it is proven that the registered owner of the right of the Dominican State has received the full amount such expropriation.

That is stated in paragraph 13 of article 8 of the Constitution, respect property rights and expropriation provides: "No one shall be deprived of it but for cause of public utility or social interest, upon payment of its fair value determined by judgment of the competent court ".

The Act also governs real estate register what is known as blocking registrar and the rectification of the register, referring to the conditional sale of real estate was registered supplementary to the certificate and adds that such registration generates a lock to search and prevent acts of disposal. The declaration of good family of a building falls within the supplementary registration of the certificate of title, creating a blockage that prevents registrar dispositions, charges and levies on the property.

We are clear with the law when it comes to acquiring a property contact us, we are Vico Real Estate, 809 571-2275 or visit our website clicking here.

2008-06-06T08:13:00.000-07:00

When you come to the Dominican Republic you should visit BANI, a jewel of the south

Baní is sweet and cheerful, cradle of revolutionaries, poets and stories; mangoes, fresh milk, beautiful beaches, but especially for people who rose with the sun to build a reputation for being a "good and hard-working people."

A confluence of colorful butterflies on the road, the unmistakable scent of mango mixed with the sudden appetite for eating fresh milk, announced that within a few minutes to get people to people "and good worker", Baní. Since it became Baní feels the economic movement, is perceived in each villager's love through its territory, which is reflected in the cleanliness of its streets, parks and historical places.

Without doubt, is a province warm thanks to the geographic diversity that is evident in their beautiful beaches, its rich flora and contrast formed by its dry forest and wet area where the rivers converge and greenery. We must not live in Baní to receive gallantry leading the banilejos in their bowels, probably inherited from the brave general of the Cuban revolution Máximo Gómez, who was born in the centre of this southern province. In the house where he was born this hero was lifted a place in his honor formed by a bust, the Cuban national flag and several banks.

The park Duarte, profuse greenery, is the point of convergence of many “banilejos”, including young students who complete their education daily slaughter by a "technical stop" in that park. Sitting five minutes in that orchard is reunited with civic values that every citizen must meet: there sees teenagers share a soda and ice cream or a deal to bring garbage to the bin.

While in the city of Baní there is a dynamic economic development and upward, still maintains that essence of people, because those buildings are preserved wooden houses painted in cheerful colors. This province has several qualities that make a visit worthwhile. The banilejos are devotees of Our Lady Rule, showed great faith and devotion to their patron saint. The employers to honor the Virgin are held from 11 to 21 November.

Vico Real Estate will help you to live as you wish.

2008-06-05T06:04:00.000-07:00

Project promotes the development of Samana

Samana is in the peephole of those who believe in its potential and its major tourist attractions to captivate the visitor. So are developing projects, such as El Portillo Beach Club & Spa, are betting the enthusiastic promotion of this destination. The way is through a tourist development project for low density housing, designed for a high-level market.

The project, located in a secluded area of beautiful white sand beaches with turquoise waters on the north coast of the peninsula of Samana, in Las Terrenas, is designed around existing natural resources, respecting and caring for vegetation and the environment thus meet the demands of an exclusive tourism.

The country's most renowned architects such as Antonio Segundo Imbert, Gustavo L. Moré and Esteban Prieto Vicioso, have been responsible for the design of each single unit. Three types of units called Beach Villas, Villas and Island Lagoon Villas, comprising a total of 370 rooms that are divided into 55 Beach Villas and 101 apartments.

The project company that handles Promoters Development Portillo consists of over 170 thousand square meters, including aerodrome Portillo that will service the project. Its 350 meters of beachfront is one of its most valuable attractions.

Portillo Beach Club & Spa is a project of modern concept of offering homes for rest and recreation in Las Terrenas, Samana. The main concept is of mixed-use residences. The residences will be divided into three types of units that have air conditioning, dining room, terrace, kitchen and laundry area. On the outside each residence will be part of a package that will keep similarity to the complex and integration. Here the property you like ... contact 809 571-2275