Owning a property in Punta Cana is a dream for many people - and it's easy to see why. The laidback lifestyle, fabulous scenery, white sandy beaches and perfect weather attract thousands of buyers each year.
It isn’t all sun and sand, however. There are still many practical matters to take care of if you choose to move to the Dominican Republic, such as legal fees and insurance, and before you do anything, you should get to know the country’s banking regulations and procedures.
Take a look at our quick guide to help you get accustomed to money matters in Punta Cana.
If you're buying a property in the Dominican Republic, you realy should set up a bank account. You don’t need to be a resident to open an account, and the procedure is very easy. You will need:
Passport or Residence Card (Cedula)
Reference letter from your bank
Commercial reference (Punta Cana Real Estate is happy to provide our clients with commercial reference letters)
Banks in Punta Cana
The Dominican peso (DOP) is the currency of the Dominican Republic. The best exchange rate is at any of Punta Cana’s many ATM machines. You can withdraw up to 10,000 pesos daily.