Banking

[tor.helgesen]

I have planned to move to Sosua. I am a Norwegian citizen and plan to continue to be.

Would I be able to open a debit card or savings account in a DR bank?

Do DR banks have an official guaranty in case of the bank going out of business? If so what is the limit?

What interest rate can be expected (10 million pesos)?

Do I have to pay tax on the interest earned? If so, how much?

 

[leekiv]

Use the search option

I have planned to move to Sosua. I am a Norwegian citizen and plan to continue to be.

Would I be able to open a debit card or savings account in a DR bank?

Do DR banks have an official guaranty in case of the bank going out of business? If so what is the limit?

What interest rate can be expected (10 million pesos)?

Do I have to pay tax on the interest earned? If so, how much?

And many of your questions will be answered. here is one link that may help.

http://www.dr1.com/forums/living/72451-what-requirements-foreigner-open-up-bank-account-d-r.html


Best of luck to you. I am sure DR1 reg's will be along with more info. soon.

 

[Tamborista]

I have planned to move to Sosua. I am a Norwegian citizen and plan to continue to be.

Would I be able to open a debit card or savings account in a DR bank?

Do DR banks have an official guaranty in case of the bank going out of business? If so what is the limit?

What interest rate can be expected(10 million pesos)?

Do I have to pay tax on the interest earned? If so, how much?

It may not be a great idea to advertise this to the entire WWW!
Consider keeping some of your assets in EUR in the bank.
I am not predicting the direction of the RD Peso, but I certainly would not keep all of my eggs in one basket.

 

[Rocky]

The banks in the DR are not guaranteed like they are abroad.
Most folks would place that sum of money into a good finance house, where they would get more interest, and possibly more security.

 

[tor.helgesen]

Thank you this was good info. But nothing about tax on interests earned.

 

[Rocky]

Thank you this was good info. But nothing about tax on interests earned.

You should not expect to pay any.

 

[DRob]

Any suggestions on finance houses?

 

[Tamborista]

Any suggestions on finance houses?

Anoeca - Dominican Republic (DR1)