Banks in DR???

Can anybody advise me on banks in DR? After a few years working in the Middle East, I will move to Santo Domingo to marry THE Woman! Should I bring what money I have or leave it elsewhere? Are there good dollar accounts with a decent interest? What is the tax?

hey john

There are no taxes on the interest you make in the banks, just find a large chain bank in DR, you can leave it in US money and depending how much you put in, they will give you 8% to 11% tax free interest or change it to pesos for 16% to 20% interest.
Good luck
P.S> also there are no taxes on your house if it is worth under a certain amount wich I am not certain.
see ya

Re: IRS

Keep in mind that there is an item on your IRS return that asks if you control a bank account of more than US$10,000 in a foreign bank.

John, there is SUPERB information on banking in the DR found in the archives if you give them a look. Details on different banks, how to open accounts, etc. Should help with that portion of your question.

marc

Thanks for advise! I will indeed look in the archives!