Short answer: yes. Foreigners can open a bank account in the Dominican Republic. In practice, almost anyone can do it, and the account is typically opened within 30 days of arriving in the country. Bring banking details from your bank back home and the documents the Dominican bank requests.
By Eugenio Heer, land specialist at Go Dominican Life, based in Las Terrenas.
What you need to open an account
- Banking details from your home bank, such as a reference or statement from your current bank.
- Supporting documents requested by the Dominican bank. Requirements vary by bank, so ask the bank for its current list before you go.
- Timing: plan to open the account within 30 days of arriving in the country.
Why open an account?
A local account makes it easier to pay for utilities, local services and construction, and to manage a property you own here. Your lawyer can also tell you whether you need an account for the purchase itself.
Frequently asked questions
Can a foreigner open a bank account in the Dominican Republic?
Yes. Almost anyone can, as long as they provide the information and documents the bank asks for.
Do I need to be a resident?
Requirements differ by bank and can change, so confirm directly with the bank. Your lawyer can also guide you.
Do I need a bank account to buy property?
Ask your lawyer. See our foreigner buying guide for the full process.
Questions about Las Terrenas? WhatsApp Eugenio at +1 829 525 1782 or contact our team.
