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Can a foreign bank establish a subsidiary or a branch in the Dominican Republic?

April 26, 2017Bank branch dominican republic foreign subsidiary

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Can a foreign bank establish a subsidiary or a branch in the Dominican Republic?

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Foreign banks may operate in the Dominican Republic by either incorporating a Dominican subsidiary or establishing a branch, but there are certain restrictions as to the capital composition. The bill for a Monetary and Financial Code currently being discussed by Congress seeks, among other things, to liberalize the banking sector and thus eliminates all the restrictions in this regard.