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Thread: Opening a small business in DR?

  1. #1
    Diane
    Guest

    Default Opening a small business in DR?

    We are Canadians and would like to open a small software company in DR.

    How easy is the process?
    Does it require any amount of money?

    I've been told, we just need to bring our passport (proof of citizenship), open a company, a bank and we are set!

    Thank you.

  2. #2
    Karina
    Guest

    Default Re: Opening a small business in DR?

    I advise you to legally form and register a company that will protect your assets and help you to star your business on the right track.
    You can contact my office at the email posted, if need any legal help.
    Good luck!!

  3. #3
    Freddy
    Guest

    Default Re: Opening a small business in DR?

    Of course, it is always recommendable to consult a law firm and set up your firm formally and legally. Even though as a microenterprise you might not need to do so inmediately you might want to visit at least 3 reputable law firms and request quotes from them regarding the minimum services you need. The most renown firms have web sites and brochures for potential investors, with a loty os free and valuable information.

    If you have more detailed or confidential questions contact me at frederic@tricom.net

  4. #4
    Diane
    Guest

    Default Re: Opening a small business in DR?

    Hello Freddy,

    Just received some quotes by email and been told that it will cost me a min. of $2500 US for filing a small corporation!

    I was wondering why does lawyers charges so much money just to incorporate a small business? It does not cost them more then $100 US to file the documents and only takes approximately 15 minutes to prepare it!

    Do you think I should do it myself?
    (I've file Corporation and Limited company in USA and Canada before and it doesn't take no time to do it, and it only cost me $87 US, I don't know about DR, but I'm sure it is not very expensive either!).

    Would you know where I can get an application for filing for a Corporation?

    Keep up the good work. :-)

  5. #5
    Freddy
    Guest

    Default Re: Opening a small business in DR?

    Ask for more quotes.

    Wait for other quotes.

    Negotiate, Negotiate, Negotiate, Dominican Lawyers love to bargain, and I think you have a good argument.

    Regarding doing it yourself, I really don't know about any "Do it yourself kits".

    If you are american, you might want to call the American Chamber of Commerce in the DR or your Embassy here. Or the Dominican Embassy in Washington D.C.

    Usually they can provide you with "Investing in the DR kits" and may assit you in person and for free.

  6. #6
    Marc Maillet
    Guest

    Default Re: Opening a small business in DR?

    Hi Diane,

    We negotiated a wholesale incorporation fee of USD 1,750 including our personal assistance and consulting fees with one of the most renowned Dominican lawyer companies here in Santo Domingo.

    The incorporation process is much more complicated than in the U.S. and generally takes about 1 to 2 months.
    Incorporation by mail via proxy is nevertheless possible.

    Just email us your private details if you would like more information on our services.

    sincerely

    Marc Maillet

    Dominicana Servicios Multiplos
    Apartado Postal 50-12
    Santo Domingo, Dominican Republic
    Phone: ( ) 809 322 0144
    Fax : ( ) 809 414 7888
    drinfo@tricom.net

  7. #7
    Torrey Pass
    Guest

    Default Re: Opening a small business in DR?

    I want to set up a small-scale bike touring operation in the Caribbean region. What are the legal and financial implications involved for such a venture in the Dominican Republic?

  8. #8
    Freddy
    Guest

    Default Re: Opening a small business in DR?

    Your question is too open/general/vague and very difficult to answer the way it is asked.

    Could you be more specific?

    The more precise your question(s) the more precise the answer(s) you will get.

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