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Finally crossed over the the dark side over the last week. Went to the Banreservas ATM in SD and pops up a screen RD$112 per transaction. So now that there are no banks in DR that do not charge the ATM Fee, what is the best bank to pull out the largest amount of pesos at one time and what is...

To reflect the $85 per barrel crude oil on the international markets? Right now the price per gallon is about $RD214. Doesn't make any sense-should be much lower between $RD155 to $RD175 to reflect the declining price in Crude. Who is making off with the difference or does it reflect...

Seem to be fluctuating with a large spread when I keep track of it on Oanda, whereas at the local banks it remains rather constant? This seems to be impacting the rate that is received with Visa debit cards because they use that rate similar to Oanda, which results in receiving exchange rates...

I made a couple ATM withdrawals at a Banreservas ATM in the last two weeks of March and I noticed that the currency exchange rate had changed significantly. I was getting 38.89 DOP to 1 USD for weeks prior, but then it changed to 38.29 all of a sudden. Is it possible that Banreservas is now...

Received my Edesur electric bill this month and to my surprise it showed 0-anterior, 269-actual, multiplo-1.000 and Consumo 807Kwh. The difference between the actual and anterior is normally the amount consumed multiplied by 1.0, but in this instance they multiplied it by 3.0! Anyone have...

Living in Santo Domingo? I am looking to purchase a Honda Fit. I wanted to buy it over in Miami and ship it to DR, but it looks like a nightmare to do so. Buying locally in Santo is over the top crazy prices for these cars. Any suggestions? Ride a bike?

Now an almost 20% increase in 6 months time. Amazing little discussion anywhere to be found. In addition, the new proposed tax law changes by the President will ding you if you have a bunch of real estate in your name. Of course, you can change it to a Corporation where you will pay 1% on...

Without the use of an attorney in DR?... Anybody explain their experience in detail?....

Anybody know if there is a bus that leaves from any of the hotels in Santo Domingo that will take you straight to the Las Americas Airport near Boca Chica and how much it costs one way? Thanks.

I can see why owners don't place the deposit in there...What a hassle to get the money back. I am in the process of getting money back from a deposit that was placed in this bank under a certificate of deposit. They require a letter written from the owner and your own letter and then 3 days to...

Is it possible for a C. Por A. Corporation to still do business transactions in DR? I read that these type of corporations were made invalid a year or so back and were required to transform into an SA, SRL or EIRL. I believe there was some 18 month extension that expires in February, 2011...

City council taxes challenged A recent decision by the National District Municipality to tag on a new tax on real estate in Santo Domingo is being dubbed illegal. El Caribe interviewed tax advisor Jose Segura who says that the creation of new taxes on constructions and on empty lots...

Sr., Guzman, When a Dominican Corporation is the seller of a property, they must issue a resolution to authorize the sale of that property. My question is about this resolution by the Corporation. Does the resolution need to be signed under notary by only the President and Secretary or by all...

Sr. Guzman, If a foreigner (Non-Dominican Citizen), whom resides outside DR, establishes a POA document to sell a DR property that was duly executed with two witnesses and a notary in the DR, but the title fails to mention the specific individual who has the POA to represent the foreign...

Sr. Guzman, I read this in one of your pieces on the DR income tax. I am unclear to what this Article 2 portion means. Can you clarify the intent of this article in the code? Also, is this only for DR registered legal entities or any legal entity worldwide? Thank you. "The Tax Code...

Sr. Guzman, I am concerned about the issue of any fraud taking place with notaries in DR and the Public Registry for land-property titles. There have been several well documented cases in Costa Rica and Panama now of this happening. What do you know about any history in the DR to this issue...

Bonds in DR? Through the DR stock market? Who are the brokers? BHD or another outfit? Anyone?....Thanks. CEPM places bonds The Punta Cana-Macao Energy Consortium (CEPM), the private energy company that supplies electricity to the Punta Cana, Macao, Bavaro and Bayahibe tourist resort areas...

In DR.....Specifically, La Capital... Some of these pharmacies have outrageous prices. There has to be better pricing out there. Thanks.

Sr. Guzman, I gather that income derived from rental apartments in the DR are considered income from a Dominican source? If a citizen, resident or foreigner are renting out an apartment and receive income into local DR bank accounts, what is the reporting of this income to the local government...

Incoming wires of over $10,000 USD's to the Banking Supervisory when the wires originate from a financial institution in the United States? Do the banks in DR and the Supervisor to the Banks think that due diligence was not completed to the origin of the funds by the U.S. Banks before they were...