Archives: Dominican Republic

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The Dominican Republic’s New Anti-Money Laundering and Terrorist Financing Act

In an effort to bring the Dominican legal framework up to date with new international standards, on June 1, 2017, the Executive Power of the Dominican Republic promulgated the new Anti-money Laundering and Terrorist Financing Act 155-17 (“New Law”). The New Law overhauls the Anti-money Laundering Act 72-02 of June 7, 2002, to allow for … Continue Reading

Entry into force of Law No. 42-08 on Defense of Competition in the Dominican Republic: Immediate Practical Consequences

On January 16th, 2008, the Dominican Republic enacted Law No. 42-08 for the Defense of Competition (“Law No. 42-08”), which is of public policy nature and seeks to promote free competition and sanction unfair practices in the Dominican market. The entry into force of Law No. 42-08, however, was conditioned on the appointment of the … Continue Reading

The Court Rulings That Changed Agency and Distributorship Law in the Dominican Republic

In the last decade, Dominican Judges have adopted a new interpretation of certain provisions of the Dominican Agency Law 173 of 1966, a law which is considered of public policy and very protective of local agents and distributors. Particularly, the courts’ have changed their interpretation of the law on exclusivity of distribution agreements and competent … Continue Reading

Dominican Republic: Two Decades of Legal Change in Favor of Foreign Investment

For approximately 16 years now, the Dominican Republic has been implementing a continued legal reform to adjust its legal framework to international standards, specifically aiming to attract foreign investors. The legal reform includes enactment of new laws and treaties, amendments to existing laws and treaties and the issuance of updated interpretations of local statutes by … Continue Reading
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