Hey everyone I'm new to this site but have certainly been following for a few years! Now it's time for me to ask my questions because my family would like to start a business in DR....it helps that they are from there but when starting a business there are many answers that you can't get be answered from Google and abuela lol! Very excited to finally be apart of the community and can't wait to dive in!
- Thread starter Performing Arts Boarding
- Start date
Hello from NYC
Hi:
Where is your family from in the DR? Do you have any relatives you can REALLY rely on there? Starting a business, especially, if you are not living there is very difficult. The oversite is impossible and that is where you will get into trouble. Not having your "boots on the ground" is leaving it up to other family members and employees and that is where you could get ripped off big time. Unfortunately the DR is the scammers capital and I would not invest a lot of money that you have no control over. Are you planning on being in the DR for part of the time? That would make a big difference. Also, if you are you would have to apply for temporary residency which is complicated and expensive. What type of business are you looking at? I would not recommend owning a bar or restaurant. This business has a very poor track record of being sucessful. Something in technology or service oriented would be better. Proceed slowly. Go to the DR and check out the landscape to see what is happening in the business world. Santo Domingo would be your best bet. Buena Suarte
Where is your family from in the DR? Do you have any relatives you can REALLY rely on there? Starting a business, especially, if you are not living there is very difficult. The oversite is impossible and that is where you will get into trouble. Not having your "boots on the ground" is leaving it up to other family members and employees and that is where you could get ripped off big time. Unfortunately the DR is the scammers capital and I would not invest a lot of money that you have no control over. Are you planning on being in the DR for part of the time? That would make a big difference. Also, if you are you would have to apply for temporary residency which is complicated and expensive. What type of business are you looking at? I would not recommend owning a bar or restaurant. This business has a very poor track record of being sucessful. Something in technology or service oriented would be better. Proceed slowly. Go to the DR and check out the landscape to see what is happening in the business world. Santo Domingo would be your best bet. Buena Suarte
Thanks Guys for your help...and to answer your questions family is from "The Black Lagoon" and "Cinnamon" Thats the best way I know how to describe the areas, its all farm land though and would take a lot of excavating and development like water, lights roads etc. Of course there are no relatives that are reliable lol, but something as big as building a boarding school, I wouldn't want anyone else on the ground but the founders to make it happen. I do remember an instance where Abuelas house was being built and everything was stolen as soon as the sun went down, so Im fully aware of my presence during construction. I have been looking at the Visa options since most of the family has dual citizenship its really just me and my other american born founders that need the business Visa. I see a lot of Resorts and hotels for sale in all parts of the island this worries me about travel and tourism on the island as a whole. We haven't decided what part of the island yet, I have vacationed in Punta Cana and Puerto Plata but I was a true tourist and soaked up the sun and drank a ton of Presidente ...never had so much beer in my life lol. Just wanted to get some current opinions about business, tourism and private schools over there. Im certainly going to take your advise Curlando and read threads from others who have opened businesses. Its always good to get info from different perspectives. Thanks guys
