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In the Dominican Republic there is the possibility to open bank accounts in either US Dollars, Dominican Pesos, or Euros.
Opening a bank account in the Dominican Republic is not a very difficult task, but it requires a few documents that need to be submitted prior to authorization of the account.
The process to open a bank account normally takes a couple of days, so if you know that you will want to do this please prepare in advance. Get any necessary documents from your home town bank and bring them with you. Also, coordinate to send passport information early in your visit to have time for the bank to do their checks and then for you to go there to sign documents. Opening a bank account is not something you can do via Power of Attorney and if you leave after being approved and before opening the account your approval will expire after 90 days.
If you have any additional questions please do not hesitate to contact your REMAX Tropical agent and we will be glad to assist you!
Disclaimer: This information is subject to change at any time as the banks' requirements may vary, but the above outlines the general basics.
Punta Cana, Dominican Republic
Plaza Gran Caribe #16
Bavaro, La Altagracia
Dominican Republic, 23301