The Dominican Republic (DR) is emerging as one of the frontrunning economies in Latin America for foreign investment. In fact, the Organisation for Economic Co-operation and Development (OECD) has stated that DR has been the fastest-growing economy in Latin American and the Caribbean since 2010.
Since 2020, new governmental authorities have dedicated immeasurable time and resources to making important changes in order to attract foreign investment to the island. The new Law 47-20 of Public Private Partnerships and its implementing regulations bring forward a new framework for investment and foreign investment in the DR. The newly established General Directorate of Public Private Partnerships is working in unison with other governmental authorities to set up the guidelines for the processes by which public private partnerships will be presented by private actors for consideration by the government. Jiménez Peña (JP) participated actively in the discussions and drafting of Law 47-20 and its implementing regulations and has also been an active participant in the discussions of resolutions being implemented by the General Directorate of Public Private Partnerships.
The real estate and tourism industry has also been a top priority, with numerous new investment opportunities, and renewed efforts to develop real estate and tourism projects in the southern and the northern parts of the island, as well as important incentives for development. This includes the establishment of a trust (Pro-Pedernales Trust) in 2021 to develop the southwestern province of Pedernales with foreign investment. JP advises some of the major players in the hotel and tourism industry in all legal and commercial aspects for the operation and functioning of hotel chains, real estate projects and tourist developments in the DR.
Energy and renewable energy have also been a top priority in recent years and a big market for foreign investment due to the incentives established by law for renewable energy in the country. JP advises energy project developers, local and multilateral lenders; and is the only firm in the country with experience in all aspects of traditional and renewable energy projects, having worked with generators, the regulator, the state, and the distribution companies.
Free trade zones have also become a priority in order to generate employment after the Covid-19 pandemic. The government has supported and promoted the construction of new free trade zones and the expansion of existing free trade zones in the country to welcome foreign investment from companies that would like to take advantage of the incentives in the DR. JP represents both free trade zone parks and companies classified as free zones, including important companies in service free zones, commercial free zones and industrial free zones in the textile, aeronautical, food and beverage, jewellery industries.
Who we are
Established in 2003, JP is one of the leading law firms in the Dominican Republic. We have veteran talent and all the necessary resources to handle any legal challenge that the local and global business community may face in the Dominican Republic and, through our network, in any other jurisdiction.
JP partners offer decades of experience and knowledge gained through practice in an emerging market. They pass on their good business judgment to associates, who combine it with their high-level legal education and experience to excel in their field.
Our clients include Fortune 500 companies, regional and international organisations, domestic and foreign financial institutions, private investment funds, individual investors, and governmental entities, among others.
The firm and its attorneys have received a high ranking in Chambers Global; Chambers Latin America; The Legal 500 Latin America; ILFR 1000, Latin Lawyer 250 and Who’s Who Legal. Publications of great international prestige consistently recognise the work of our partners and associates.
JP has been selected by TRACE International as TRACE’s partner firm in the Dominican Republic, for its valuable experience in anti-bribery laws and regulations for the benefit of TRACE’s multinational members and intermediaries.
We are grateful for our community. This is why we offer pro bono support to NGOs dedicated to health, education, inclusion, sports, art and culture, community development and animal protection; and also to local chambers of commerce. We frequently participate in the drafting of fundamental legislation and contribute to professional publications.
JP is committed to equal opportunities and a mixture of different attributes in the workforce, considers of great importance the inclusion and richness that different cultures, beliefs, education, religions, styles of action and thought, traditions, experiences, ages, genders, races, ethnicities and sexual orientations contribute. Due to this, our diversity and inclusion policy is reviewed and updated every year and the guidelines are established to achieve a working climate free of prejudices and a tolerant culture where differences are appreciated and recognised as adding value to the firm and each of its members.
Practice areas
JP provides legal services in all areas of law, with a strong presence in the areas of foreign investment, energy, dispute resolution, finance, capital markets, real estate, free trade zones, aviation and tourism. The legal team, with international academic preparation and strict adherence to high standards, offers creative solutions to local and global clients with dedication, integrity, responsibility and professional excellence. The firm has established itself as a favourite in mergers and acquisitions, international and local arbitration, project financing, collective investment instruments, tax, labour, and governmental relations.
Authors
Luis Julio Jiménez
Luis Julio Jiménez is a founding partner at the firm. He focuses his professional practice on mergers and acquisitions, economic regulation, project structuring and financing, real estate and tourism, as well as government and administrative law. Luis has a Magna Cum Laude Bachelor of Laws from Universidad Iberoamericana (UNIBE) and a Master of Laws (LLM) from Georgetown University Law Center, Washington, DC, where he also completed an Executive Certificate Program in International Business.
Katherine Rosa Rodríguez
Katherine Rosa, a partner at the firm, specialises in different business areas, including banking, local and international financing, project structuring, economic regulation, concessions and regulated industries with a primary focus on energy. Katherine has a Cum Laude Bachelor of Laws from Universidad Autónoma de Santo Domingo (UASD), where she also completed a master’s degree in Civil Law.
Vilma Veras Terrero
Vilma Veras is a partner specialising in corporate and commercial law. She has considerable experience in shareholder agreements, joint ventures, cross-border mergers and acquisitions, and corporate restructurings. She also assists in estate planning, contract negotiations and concession agreements, as well as tax and real estate matters. Vilma has a Magna Cum Laude Bachelor of Laws from Pontificia Universidad Católica Madre y Maestra (PUCMM), where she also completed a master’s degree in Business Law and Economic Regulation.