Free Offshore Banking in the Dominican Republic.......
of our clients are very pleasantly surprized to find out that tax-free
US dollar offshore accounts are available in the Dominican Republic.
Interest rates are very
attractive, plus clients can manage their account through an English speaking
account officer or debit card facility.....
the topic of banking or investing "offshore" comes up, the Dominican Republic
is most likely going to be the very last place that you think of.
However, as many investors are starting to discover, high interest bearing
US dollar accounts and US dollar based investments are both available and
are tax-free. In addition, managing such an offshore account is in
fact quite easy to do, no matter where you may be living at the moment.
The first question that many people have is, "Are banks safe in the
Dominican Republic"? The only way to answer this would be to explain
the fact that the banking industry is highly regulated by the local government.
Banking licenses are very difficult to obtain and applicants must submit
to a lengthly review process by the central bank. This is in
contrast to what can often be called very lax regulations in some English
speaking jurisdictions. Ironically, many English speaking investors
have a fear about banking in a country that uses another language, but
the reality is that they may not find it to be "better in the Bahamas".