- Thread starter arp568
- Start date
What are the permits to open a business in dominican republic
Could You Please Be A Little,"LESS SPECIFIC"????
"Business"????
Whore House,Disco,Supermarket,hospital,restaurant,massage parlor,gas station,bar,dental clinic,pet store?????
Where?
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCcc
Now,to answer your question,..."YES,It Is!!!"
"Business"????
Whore House,Disco,Supermarket,hospital,restaurant,massage parlor,gas station,bar,dental clinic,pet store?????
Where?
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCcc
Now,to answer your question,..."YES,It Is!!!"
Well for that he would need MUCH, MUCH, MORE THAN A TRAINLOAD of street-smarts (.,..Dominican version of it that is)
To have at least a chance to make it in a business in the DR, you have to either find out a niche that nobody serves (for selling to locals) or cater to international markets from the DR. Selling to Dominicans what others are already selling to Dominicans is a recipe for failure.
The first thing you must do is form your biz, as easy as buying a ready to go shell company in the web (some leads are here already in the DR1 pages). Why buy a ready to go instead of doing it from scratch? Time savings and much less hassle!
You can buy a shell company and then change the name to whatever you like, step that's still easier than creating one from zero! The rates for these off the web companies vary by offers and other factors like name, type of biz, time since it was formed, etc...
After your off the shelve biz is paid and legally under your control, then you publish your new company (or existing name if not changed) in the Oficina Nacional de la Propiedad Industrial ONAPI. That's where yo do things like:
? Approve requests for names, labels, logos and emblems
? Approve requests for commercial slogans
? Approve patent applications for inventions and utility models
? Approve trademark applications
? Approve applications for industrial design
? Approve the application forms for compliance with the Patent's Cooperation Treaty (PCP)
After that you go to a local Bank you like in the DR, open an account using the forms provided after the steps above. Deposit the capital (could be your whole operating or minimum as per Law) to obtain the certificate of deposit from the Bank.
With that in hand then you make the Incorporation tax payment with the rate that applies at the time of your biz creation and based on a % of the capital.
Then you Register the company in the Chamber of Commerce to obtain the Tax Identification Number (RNC) on-line at the gob web site to that end.
Head to the Internal Revenue Service (DGII) and File for the National Taxpayers Registry and at the same time the fiscal receipts.
Then you must register all the employees hired with the Department of Labor.
Then you Register employees at the main social security office (Consejo Nacional de Seguridad Social, CNSS).
Depending on the type of biz you are creating in the DR, some other permits are needed based on the type of commerce you'll be carrying out. Some are from the Medio Ambiente, others from local public offices.
It all depends on what you aim for!
As far as supplying local biz with paper bags and stuff like that, it all boils down to price! If your price is better and the quality relative to the other offerings, then you'll make good money. If your margin is too thin and your operating capital will not cover at least the first year, then you'll be in a hard position in the DR.
By far the biggest cost to biz in the DR is the electrical bill and the generators eating away fuel, when there's none of the service to support your biz. A good biz plan for the DR is one that covers the bases for basic expenses you'll face in the first year. This leaves enough room for those "surprises" that always show up unannounced at your doors.
Dominicans are hungry for three things in a biz: Quality, value and reliability!
If the stuff you supply does a decent job is good, a better job is commendable, the best job will gain you a following.
If the value is competitive and not shoot to kill, you'll gain a stable client base.
If you provide strong support and stand by your goods, the DR will worship thy name!
You can buy a shell company and then change the name to whatever you like, step that's still easier than creating one from zero! The rates for these off the web companies vary by offers and other factors like name, type of biz, time since it was formed, etc...
After your off the shelve biz is paid and legally under your control, then you publish your new company (or existing name if not changed) in the Oficina Nacional de la Propiedad Industrial ONAPI. That's where yo do things like:
? Approve requests for names, labels, logos and emblems
? Approve requests for commercial slogans
? Approve patent applications for inventions and utility models
? Approve trademark applications
? Approve applications for industrial design
? Approve the application forms for compliance with the Patent's Cooperation Treaty (PCP)
After that you go to a local Bank you like in the DR, open an account using the forms provided after the steps above. Deposit the capital (could be your whole operating or minimum as per Law) to obtain the certificate of deposit from the Bank.
With that in hand then you make the Incorporation tax payment with the rate that applies at the time of your biz creation and based on a % of the capital.
Then you Register the company in the Chamber of Commerce to obtain the Tax Identification Number (RNC) on-line at the gob web site to that end.
Head to the Internal Revenue Service (DGII) and File for the National Taxpayers Registry and at the same time the fiscal receipts.
Then you must register all the employees hired with the Department of Labor.
Then you Register employees at the main social security office (Consejo Nacional de Seguridad Social, CNSS).
Depending on the type of biz you are creating in the DR, some other permits are needed based on the type of commerce you'll be carrying out. Some are from the Medio Ambiente, others from local public offices.
It all depends on what you aim for!
As far as supplying local biz with paper bags and stuff like that, it all boils down to price! If your price is better and the quality relative to the other offerings, then you'll make good money. If your margin is too thin and your operating capital will not cover at least the first year, then you'll be in a hard position in the DR.
By far the biggest cost to biz in the DR is the electrical bill and the generators eating away fuel, when there's none of the service to support your biz. A good biz plan for the DR is one that covers the bases for basic expenses you'll face in the first year. This leaves enough room for those "surprises" that always show up unannounced at your doors.
Dominicans are hungry for three things in a biz: Quality, value and reliability!
If the stuff you supply does a decent job is good, a better job is commendable, the best job will gain you a following.
If the value is competitive and not shoot to kill, you'll gain a stable client base.
If you provide strong support and stand by your goods, the DR will worship thy name!
Pichardo, you are mixing off-the-shelve companies and do-it-yourself incorporation. Most of the steps you described does not apply to off-the shelve companies. Maybe application for RNC# plus employee registration. But you do not do ONAPI, bank, tax payment on capital with off-the-shelf company. You do that with new incorporation.
When I have time I will update DIY incorporation thread, have just done new company this month, it's pretty easy and straight-forward when you know what documents you need and what steps to follow. The biggest PITA was ONAPI who rejected me 2 business names officially and about 7 extra-officially. I will write about it more later on. Now I can get a business name checked out against the ONAPI name rules (most of them illogical and many contradictory) just by sending an email or dialing a specific extension ... I can tell you I am a semi-expert on ONAPI name decision process now ...
When I have time I will update DIY incorporation thread, have just done new company this month, it's pretty easy and straight-forward when you know what documents you need and what steps to follow. The biggest PITA was ONAPI who rejected me 2 business names officially and about 7 extra-officially. I will write about it more later on. Now I can get a business name checked out against the ONAPI name rules (most of them illogical and many contradictory) just by sending an email or dialing a specific extension ... I can tell you I am a semi-expert on ONAPI name decision process now ...
Rubio has been an enormous help to me. I am working with a client who bought an off the shelf. He had the RNC etc. We are in process of registering with DGII and TSS and CNSS.Nothing is straightforward.Nothing is easy and rarely does it make sense. BUT you must do it if you want to be legal.
It all takes time and money.
The less spanish you speak the more time and money it will take.
The less you understand the culture the more time and money it will take.
The less you understand business the more time and money it will take.
It all takes time and money.
The less spanish you speak the more time and money it will take.
The less you understand the culture the more time and money it will take.
The less you understand business the more time and money it will take.
Like I said, it all depends on if you keep the name or not! If you opt to change it you'll have to carry out the steps as listed.
@ PICHARDO -> For changing company name the process is as follows:
(If the company has RNC#)
1. ONAPI process: Request a new commercial name from ONAPI, pay filing fees, when accepted, pay publishing fees. All can be done via www.onapi.gob.do About 3.600 pesos in fees
2. Hold "Asamblea" (meeting of shareholders or stakeholders) declaring name change of the company + substitution of the old shareholders for new ones (About 2.000 pesos in lawyer's fees, or you can draft it yourself if you know how)
3. Go to Registro Mercantil and file for Change (name + shareholders). About 2.000 pesos in fees.
4. Go to DGII and file RC-02 change of corporation, indicating change of ownership and change of legal name
After several months (current DGII time for these type of changes) you will get your new RNC carnet.
(If the company has RNC#)
1. ONAPI process: Request a new commercial name from ONAPI, pay filing fees, when accepted, pay publishing fees. All can be done via www.onapi.gob.do About 3.600 pesos in fees
2. Hold "Asamblea" (meeting of shareholders or stakeholders) declaring name change of the company + substitution of the old shareholders for new ones (About 2.000 pesos in lawyer's fees, or you can draft it yourself if you know how)
3. Go to Registro Mercantil and file for Change (name + shareholders). About 2.000 pesos in fees.
4. Go to DGII and file RC-02 change of corporation, indicating change of ownership and change of legal name
After several months (current DGII time for these type of changes) you will get your new RNC carnet.