Posted on by Chad F.

Choosing the right location is just as important as finding the right personnel when it comes to starting a business. To be successful, you need close proximity to your customers, shipping access, product supplies, potential business partners, and more. Frankly, most companies fail within five years because of a poor choice of geographical location.

Recently, the Dominican Republic has gained notoriety as fertile ground for new businesses and for good investments because, in 2012, the government eliminated the proof of deposit of capital requirement when establishing a new company. In addition, the Dominican Republic made trading and selling to other countries easier by reducing the number of documents required for importing and exporting. Real estate is also priced very well.

Because it is centrally located in the Caribbean, the Dominican Republic is one of the best areas in the region to do business. It’s especially lucrative if you want to start a company in tourism, call centers, manufacturing, renewable energy, telecommunications, or software development. Here are a few cities on the island that are ideal to establish your fledgling business.

Santo Domingo

Santo Domingo is the capital of the Dominican Republic, the largest city with a population of 1.9 million residents, and the oldest permanent settlement on the island. It is a sophisticated place with impressive architecture, theaters, museums, shopping centers, and sports stadiums. Baseball is very popular there, bordering on an obsession for the residents.

Las Terrenas

Las Terrenas is a vibrant and international town with citizens from all over the world including Poland, France, Italy, Britain, Germany, and Switzerland. This means there is an active and mixed group of people who are interested in a variety of worldwide foods and imported items. A new paved highway makes traveling easier and has improved access to Santo Domingo and other areas of the island. A new airport nearby now offers regular flights to the United States and Canada making access to and from Las Terrenas very easy and perfect for shipping products all over the world.

Puerto Plata

Puerto Plata has approximately 200,000 residents and has a definite global culture. This area has lots of Victorian and English architecture and always welcomes tourists from Canada, America, and England; therefore, the English language is spoken and understood here. Because of the ease of communication and the wide variety of food and activities, many of the same tourists return year after year.

Ready to Start Your Business Venture in the Dominican Republic?

The Dominican Republic is home to more than 8.5 million people who can claim a rich and vibrant cultural inheritance from around the world. Although the island’s official language is Spanish, English is spoken in many tourist attractions, restaurants, stores, and resorts. The government is focused on building the economy and creating a positive business environment. Now is the perfect time to start your new business venture in the Dominican Republic.

And in case you are worried about getting your funds to the Dominican Republic, fret not. With services offered by Sharemoney, you will be able to send money online from the United States to the Dominican Republic with low transaction fees and excellent exchange rates.

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