Special Regimes

Context:

The client is a multinational group that has made important investments in the Dominican tourism sector within the legal framework of fiscal incentives and special treatment for foreign investment. On this occasion, the client initiated a project located on a main touristic zone of the national territory.

Hence, Alburquerque provided council to the client pertaining every aspect related to the development, construction and launch of said touristic project through an integral assessment service for Project Management. The firm supported the client through the process of obtaining the Certificate of Non-Objection to Land Use issued by the Ministry of Tourism in order to build a project valued at USD$403,000,000.00 within a property which value amounted to USD$30,000,000.00. Likewise, the Firm´s assistance included the procurement of the Non-Objection to Land Use before the city councils and other national authorities, such as the Environmental and Natural Recourses Ministry, the Executive Committee of Infrastructures on Touristic Zones (CEIZTUR), among others.

In parallel, the firm represented the client in the negotiation and drafting a loan agreement with mortgage guarantee and stock pledge with a local bank, to obtain liquidity for the development of the project.

Furthermore, Alburquerque has supported the client in the drafting of contract required for the progress of the project, which highlights the representation and advice in a contract of operating services and administration of the hotel with an important multinational in the tourism sector. Also, the preparation of agreements on the development of the construction.

In addition, the Firm advised the client and issued inquiries regarding the processes of obtaining exemptions 158-01 on tourism promotion, as well as issuing legal recommendations for parcel modification processes without affecting the tax benefits that the project has already obtained.

Benefit:

Through the advice granted to this client, the firm has ensured that the investment made by the client meets the requirements required by Dominican legislation, being able to access the benefits granted under Law No. 158-01 on promotion of tourism, specifically the tax incentives for the conditioning of the project. Also, the firm’s assistance guarantees a successful development and in turn the protection of the investment made, which amounts to approximately USD $403,000,000.00.

Lawyers:

Lic. José M. Alburquerque Prieto, Managing Partner
Lic. Gina A. Hernández, Corporate Business Partner
Lic. Stephanie Been Martínez, Senior Associate
Lic. Derick R. Hernández Grau, Senior Associate
Lic. Lourdes S. Medina Romero, Junior Associate
Lic. Adriana Espinal Sabater, Junior Associate


Context:

The client is an international hotel chain that has multiple projects in the Dominican Republic, as well as in 14 other destinations, totaling 49 hotels worldwide.

On this occasion, Alburquerque executed a due diligence process and participated in the advisory and negotiation process for the closure of this client’s first urban project, for the acquisition of a hotel operation in Santo Domingo. The services provided by the Firm included the elaboration of the framework contract, contract for the purchase of real estate, as well as an accessory contract, which included the acquisition of transfer of transfer of operating and environmental licenses, and finally intangible rights. Similarly, the Firm advised the client on the development of a tax strategy for the acquisition of the goods, minimizing contingencies and tax consequences. Finally, the Firm participated in negotiations with a local bank, for the signing of a escrow agreement guaranteeing the staggered execution of obligations by the seller, following the formalization of the purchase.

Benefit:

The Firm advised the client to ensure a successful tourist acquisition, which represented an investment of USD $35,000,000.00.

Lawyers:

Lic. José M. Alburquerque Prieto, Managing Partner
Lic. Gina A. Hernández, Corporate Business Partner
Lic. Stephanie Been Martínez, Senior Associate
Lic. Lourdes S. Medina Romero, Junior Associate


Context:

The client is a free zone of telemarketing services belonging to an international corporate group that develops mainly in the tourism sector.

Alburquerque assisted the client in the preparation of the necessary documentation to join as a free service zone in the Dominican Republic. As part of this operation, the Firm incorporated a branch in the Dominican Republic, as well as prepared the technical profile and represented the client before the relevant authorities, i.e. National Council of Free Export Zones, Ministry of Finance and Directorate General of Internal Taxes, so that the client could access the domestic market benefiting from existing tax incentives.

Benefit:

By establishing this service free zone in the national territory, the client made a direct investment of USD$166,000.00, generated employment opportunities with a cost of USD$15,000 per month and generated a monthly investment for services and rent for USD$9,000.00, while the firm advised the client to ensure that the investment was successful and generated profits under the tax incentives governing this sector in the Dominican Republic.

Lawyers:

Lic. José M. Alburquerque Prieto, Managing Partner
Lic. Gina A. Hernández, Corporate Business Partner


Context:

The client is a foreign capital investment and tourism development company, located in a border area of the Dominican territory with Haiti.

Alburquerque assisted the client in preparing the necessary documentation to obtain classification as a border company, allowing him to receive the benefits contained in Law No. 28-01 that creates a Special Border Development Zone.

Benefit:

Due to the services provided by Alburquerque the client was able to guarantee the enjoyment of the incentives granted by Law No. 28-01 that creates a Special Border Development Zone, where tax exemptions are mainly highlighted.

Lawyers:

Lic. José M. Alburquerque C., Founding Partner
Lic. Gina A. Hernández, Corporate Business Partner