Investing in 'local' business vs. starting/buying business

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RobFenton

New member
Dec 14, 2015
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Hi all,

I'm currently looking into getting a permanent residency in DR.
One of the eligibility criteria is to invest $200,000 into a local business.

I have 2 questions relating to this:

1. Does starting my own business (with $200k) in DR count as investing in a local business or does it have to be an already established business?

2. I've heard that a many properties are owned by a company and that rather than buying the property you can buy the company that owns the property. If I were to do this, would this count as investing in a local business?


Thanks in advance for your answers, but PLEASE, PLEASE keep them related to the above 2 questions ONLY.
I'm not looking for advice on anything else within this thread. I'll post those questions in other threads/forums.

Best wishes to all,

Rob :)
 
CristoRey

CristoRey

Welcome To Wonderland
Apr 1, 2014
11,785
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RobFenton said:
Hi all,

I'm currently looking into getting a permanent residency in DR.
One of the eligibility criteria is to invest $200,000 into a local business.

I have 2 questions relating to this:

1. Does starting my own business (with $200k) in DR count as investing in a local business or does it have to be an already established business?

2. I've heard that a many properties are owned by a company and that rather than buying the property you can buy the company that owns the property. If I were to do this, would this count as investing in a local business?


Thanks in advance for your answers, but PLEASE, PLEASE keep them related to the above 2 questions ONLY.
I'm not looking for advice on anything else within this thread. I'll post those questions in other threads/forums.

Best wishes to all,

Rob :)
Click to expand...

Man has 200k to invest and consults members on this forum for advice :p:p:p
Three words for this one... ASK A LAWYER.
 
R

RobFenton

New member
Dec 14, 2015
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CristoRey said:
Man has 200k to invest and consults members on this forum for advice :p:p:p
Three words for this one... ASK A LAWYER.
Click to expand...

Thanks, really helpful Mr CristoRey. Of course I'm going to get advice from a lawyer in due course.
I was just hoping for some advice from those who in the know and who have been through the process themselves, before consulting said lawyer.
There seem to be so many people on here that seem to know it all, so I thought I'd ask them.
Or are you just full of hot air until someone asks a legitimate question and you find yourself floundering with no genuine knowledge and so resort to trying to put people down rather than help them?

So again, I ask, if anyone has any USEFUL and relevant knowledge which they don't mind sharing with me on this, I would be very grateful.

PS - This is the legal forum, right? Isn't the whole point of this forum to ask legal questions, or have I completely misunderstood?

PPS - I have read more than a few times that there are lawyers (e.g. Guzman Ariza) who read this forum, so in effect, am I not in a roundabout way asking a lawyer too?
 
CristoRey

CristoRey

Welcome To Wonderland
Apr 1, 2014
11,785
8,052
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RobFenton said:
Thanks, really helpful Mr CristoRey. Of course I'm going to get advice from a lawyer in due course.
I was just hoping for some advice from those who in the know and who have been through the process themselves, before consulting said lawyer.
There seem to be so many people on here that seem to know it all, so I thought I'd ask them.
Or are you just full of hot air until someone asks a legitimate question and you find yourself floundering with no genuine knowledge and so resort to trying to put people down rather than help them?

So again, I ask, if anyone has any USEFUL and relevant knowledge which they don't mind sharing with me on this, I would be very grateful.

PS - This is the legal forum, right? Isn't the whole point of this forum to ask legal questions, or have I completely misunderstood?

PPS - I have read more than a few times that there are lawyers (e.g. Guzman Ariza) who read this forum, so in effect, am I not in a roundabout way asking a lawyer too?
Click to expand...

Good luck.
 
M

miguel james

Member
Nov 6, 2012
172
0
16
Good luck...make sure that lawyer is not the "tio or tia" of the person you are going to purchase from...wait just about eveyone here is someone "tio or tia";) When talking to anyone try not to let them know what's in your wallet. What part of the island would you be looking to invest? Hope you have been here a while to understand the ins 'n' outs...Good luck.
 
R

RobFenton

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Dec 14, 2015
94
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@Miguel - Thanks for the heads up. I'll do my due diligence and am becoming more aware of the way things work in DR. Not dissimilar to other countries I have lived in so have a bit of experience in this area.
 
C

Contango

Banned
Dec 27, 2010
2,196
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if you are serious about investing 200k.. in the DR and want to see an excellent return for years, PM me.. cheers..
 
G

GioMed

New member
Oct 6, 2011
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He is not looking to invest 200k he is looking for a Residencia.
So if it were 100k, than that would have been the question.

Cristo Rey: touch?d (I would say)

RobFenton: I suspect the Ariza group is out for the holidays,
hopefully Monday or Tuesday they might take a look-see here.
 
S

Seamonkey

Bronze
Oct 6, 2009
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200k????? in pesos or USD??? I've never heard of this. You need to prove some type of monthly income but never heard of a dollar amount that needs to be invested.
 
franco1111

franco1111

Bronze
May 29, 2013
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Gringo
Seamonkey said:
200k????? in pesos or USD??? I've never heard of this. You need to prove some type of monthly income but never heard of a dollar amount that needs to be invested.
Click to expand...

Yes, it exists. Someone will throw the citation to the law up here soon (again). It is in the category of Residencia por Inversion. Several options available, including rentista, etc. I am not the lawyer.
 
F

fuchs4d

Active member
Mar 7, 2004
355
192
43
RobFenton said:
Hi all,
I'm currently looking into getting a permanent residency in DR.
One of the eligibility criteria is to invest $200,000 into a local business.
Click to expand...

Buy gold coins (American Eagle), take them with you, hide them and do not tell anyone.
No interest, you can not eat them.
But they might be worth a fortune soon.
Most people failed doing local business, but of course you might be one of of the exceptions.
Average time to burn 200K here is 3-6 month, gold is still shiny then and thereafter.

or

Buy 4 appartments in a tourist zone with employees working in hotels like in Bavalo.
Live in 1 and rent 3 to foreigners working or retired.
You have to live there to make a profit.


Alexander
 
PICHARDO

PICHARDO

One Dominican at a time, please!
May 15, 2003
13,280
893
113
Santiago de Los 30 Caballeros
RobFenton said:
Hi all,

I'm currently looking into getting a permanent residency in DR.
One of the eligibility criteria is to invest $200,000 into a local business.

I have 2 questions relating to this:

1. Does starting my own business (with $200k) in DR count as investing in a local business or does it have to be an already established business?

2. I've heard that a many properties are owned by a company and that rather than buying the property you can buy the company that owns the property. If I were to do this, would this count as investing in a local business?


Thanks in advance for your answers, but PLEASE, PLEASE keep them related to the above 2 questions ONLY.
I'm not looking for advice on anything else within this thread. I'll post those questions in other threads/forums.

Best wishes to all,

Rob :)
Click to expand...


In regards to #1:

Yes you can start your own business and still is valid for the residency


In regards to #2:

Yes! You can buy the company with all assets included in the deal and still good for the residency

The gov wants your dollars in their account as you invest in the country

Many invest into their own business or ideas here

Buying a company with assets and turning a profit is already a less riskier investment than going on a hit or miss

You must carry out both always within the accepted parameters for the residency approval
 
R

RobFenton

New member
Dec 14, 2015
94
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GioMed said:
...

RobFenton: I suspect the Ariza group is out for the holidays,
hopefully Monday or Tuesday they might take a look-see here.
Click to expand...

OK, thanks. I will follow up with the Ariza group after the holidays.

Aside from them, are there any other reputable lawyers you could recommend, preferably with offices in Las Terrenas?
 
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R

RobFenton

New member
Dec 14, 2015
94
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0
PICHARDO said:
In regards to #1:

Yes you can start your own business and still is valid for the residency


In regards to #2:

Yes! You can buy the company with all assets included in the deal and still good for the residency

The gov wants your dollars in their account as you invest in the country

Many invest into their own business or ideas here

Buying a company with assets and turning a profit is already a less riskier investment than going on a hit or miss

You must carry out both always within the accepted parameters for the residency approval
Click to expand...

Hi Pichardo,

Thank you very much for your helpful answers. Much appreciated. One quick follow up question though - when you say 'both' in your last sentence, to which 2 things are you referring specifically?
 
D

Derfish

Gold
Jan 7, 2016
4,441
2
0
RobFenton said:
Hi Pichardo,

Thank you very much for your helpful answers. Much appreciated. One quick follow up question though - when you say 'both' in your last sentence, to which 2 things are you referring specifically?
Click to expand...

English is his second language, presumably he means either instead of both.
Der Fish
 
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