Legal capital requirement for casa de cambio is 2 million pesos, if you don't do money transfers (remesas). If you do remesas, it is 4 millions pesos, I think.
When you apply for a license, you must have your company already incorporated, with his adress, appropriate safety installations, etc..
Well, that is what the text say.. Now, how they are applied in practice I do not know.
Most casas de cambio I think do not have permit, nor the 2 million capital.
I have been in that business for 15 years in France. Last year I started to investigate how to set up a business In DR. I am fes up of my import business in DR, all profits stay at the muelle.. Problem: I am not willing to investigate 2000000 pesos without being sure I can operate.. Plus 2000US for incorporating..
Mr Guzman, any feedback would be welcome.
Barnab?