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banking
BushBaby
Where are you getting 14% on dollar accounts? I can't believe you can get that from a legal establishment in DR.
And yes, squatting is a good business. If you squat long enough by the Ozama riverbed and wait for the next hurricane, you might be in line for a free government apartment. Many people do this for a living. Then they sell the apartment and go back to the Ozama river. Hundreds of people are squatting on CEA government land and creating neigborhoods waiting for the government to throw them out. The government has to offer them an apartment or house to get them out of these valuable lands. People search for empty apartments and houses, move in and claim they were renting. To get them out the owners have to either pay them to get out or spend two to three years of legal hassle and costs to do it right. They usually pay off. You can also squat on lands in dispute between the government and some private group and get in between for a payoff.
As for the one who wants to know where to invest US10,000. I suggest you buy yourself a better car. This is too small an amount to play the market in DR. This business is only good after $US50,000. This is not for small play. Take a vacation or buy some hard goods better.
TW
Where are you getting 14% on dollar accounts? I can't believe you can get that from a legal establishment in DR.
And yes, squatting is a good business. If you squat long enough by the Ozama riverbed and wait for the next hurricane, you might be in line for a free government apartment. Many people do this for a living. Then they sell the apartment and go back to the Ozama river. Hundreds of people are squatting on CEA government land and creating neigborhoods waiting for the government to throw them out. The government has to offer them an apartment or house to get them out of these valuable lands. People search for empty apartments and houses, move in and claim they were renting. To get them out the owners have to either pay them to get out or spend two to three years of legal hassle and costs to do it right. They usually pay off. You can also squat on lands in dispute between the government and some private group and get in between for a payoff.
As for the one who wants to know where to invest US10,000. I suggest you buy yourself a better car. This is too small an amount to play the market in DR. This business is only good after $US50,000. This is not for small play. Take a vacation or buy some hard goods better.
TW
Golo, you cant get 14 percent but you can get 12 percent plus 2 percent commission. Email me and I will forward you an email address. You can do this with US10,000 as well.
Regards
Escott
Regards
Escott
well, I managed to get one while I was there in june and I'm not a resident. I needed to have some money transfered there, as I was almost out. In order to have the money transfered, I had to open an account. All they needed was my passport.
It wasn't a difficult procedure at all. So I don't think its all that hard to open an account.
It wasn't a difficult procedure at all. So I don't think its all that hard to open an account.
Regardless of Bushbaby's personal feel for the risk:
If you get ripped off, good luck. One of the biggests risks is that if you get taken, what will you do? The legal system? Like I said.
There's a reason they pay that interest rate. It's because they can't get lenders at a lower interest rate (else they would). Now why is that?
I like Mondongo's post. It is funny. "I have traded many times in the futures and options markets....there are NO guarantees there...no packages that promise you anything...."
Anybody can promise or say they guarantee this or that.
OK, give me US$1 million and I promise, no, I "guarantee" I'll pay it back within 30 days with 50% intererest. It's going towards my company, which needs money and has shown a profit and 20% growth every year for the last 10 years, and it has paid every investor exactly what they were promised!
My accountant (actually any accountant worth their salt) can provide private investors a high rate of return on short term cash loans. I've done a few myself.
There's a reason they don't borrow from the bank backed by sufficcient assets at typical rates. Could be legal reasons, could be a divorce, could be bad credit, could be their assets aren't worth as much as they claim or are nearly impossible to unload should the need come to that.
USA resident investment experts: Go get a mortgage on your house at 6%. What? You don't own a house with high equity? This from the investment expert? Doesn't sound like you've been all that successful to me if you owe on your house. Oh, I see, it's already mortgaged and invested in high-yield instruments awaiting maturity, at which time you will simply reinvest in same, No reason to cash out when what works once will work 10 times.
The rates are set by the market value, and nobody is going to convince me the market value is over/under valued because to do so, is pure speculation. Either that or all the people whose job it is to know these things, that's right, the professionals, have been sleeping and somehow just don't know about the big money to be made in the "guaranteed" return on investment commercial paper in the Dominican Republic.
It's like playing hot potato, where as it is wound up and ticks and gets passed from one person to the next. It could stop ticking at any moment. Will it stop ticking while YOU are holding it? Probably not. But maybe. That's called RISK, which means it is NOT guaranteed.
A promise is not a guarantee. A guarantee isn't even a guarantee. Sufficient assets, a lien, the law, and a strong legal system are close to guarantees.
If you get ripped off, good luck. One of the biggests risks is that if you get taken, what will you do? The legal system? Like I said.
There's a reason they pay that interest rate. It's because they can't get lenders at a lower interest rate (else they would). Now why is that?
I like Mondongo's post. It is funny. "I have traded many times in the futures and options markets....there are NO guarantees there...no packages that promise you anything...."
Anybody can promise or say they guarantee this or that.
OK, give me US$1 million and I promise, no, I "guarantee" I'll pay it back within 30 days with 50% intererest. It's going towards my company, which needs money and has shown a profit and 20% growth every year for the last 10 years, and it has paid every investor exactly what they were promised!
My accountant (actually any accountant worth their salt) can provide private investors a high rate of return on short term cash loans. I've done a few myself.
There's a reason they don't borrow from the bank backed by sufficcient assets at typical rates. Could be legal reasons, could be a divorce, could be bad credit, could be their assets aren't worth as much as they claim or are nearly impossible to unload should the need come to that.
USA resident investment experts: Go get a mortgage on your house at 6%. What? You don't own a house with high equity? This from the investment expert? Doesn't sound like you've been all that successful to me if you owe on your house. Oh, I see, it's already mortgaged and invested in high-yield instruments awaiting maturity, at which time you will simply reinvest in same, No reason to cash out when what works once will work 10 times.
The rates are set by the market value, and nobody is going to convince me the market value is over/under valued because to do so, is pure speculation. Either that or all the people whose job it is to know these things, that's right, the professionals, have been sleeping and somehow just don't know about the big money to be made in the "guaranteed" return on investment commercial paper in the Dominican Republic.
It's like playing hot potato, where as it is wound up and ticks and gets passed from one person to the next. It could stop ticking at any moment. Will it stop ticking while YOU are holding it? Probably not. But maybe. That's called RISK, which means it is NOT guaranteed.
A promise is not a guarantee. A guarantee isn't even a guarantee. Sufficient assets, a lien, the law, and a strong legal system are close to guarantees.
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you are all over-complicating this, it's about risk
The interest rates are in line with the relative risks.
FACT: DR interest rates on US dollars is lower than the rates on Dominican pesos
REASON: Dominican pesos have a much higher devaluation risk than US Dollars
The same applies to real estate investments and all other financial transactions in the DR. One must balance one's risk against the potential benefits. Betting your retirement on Dominican investments is not something I'm willing to do. Best of luck to those who disagree.
The interest rates are in line with the relative risks.
FACT: DR interest rates on US dollars is lower than the rates on Dominican pesos
REASON: Dominican pesos have a much higher devaluation risk than US Dollars
The same applies to real estate investments and all other financial transactions in the DR. One must balance one's risk against the potential benefits. Betting your retirement on Dominican investments is not something I'm willing to do. Best of luck to those who disagree.
Jim
You asked anyone who was SURE of his ability to get a good return (over 10%) why they didn't borrow at the low rate & invest at the high rate. I answered that call. I DO borrow from England & invest here, it pays me to!! Now, about that US $1 Million you wanted to lend me for 6 months or a year????
Golo,
You are right as usual, it is not legal to lend money & get more than 1% p.m. Pesos OR US $. Everyone DOES it, but as JazzComm so correctly points out, the difference is made up by a commission element or "Operating Costs"!! The company I deal with IS a legally formed company & has traded legally for over TEN years with NO blemish to their name. You KNOW the details of the company, we have traded this information often in the past. Are you trying to insinuate something again like you did last year? I thought you had got over that stuff when you wrote that nice e-mail some 10 weeks ago!! Salutations - Grahame.
You asked anyone who was SURE of his ability to get a good return (over 10%) why they didn't borrow at the low rate & invest at the high rate. I answered that call. I DO borrow from England & invest here, it pays me to!! Now, about that US $1 Million you wanted to lend me for 6 months or a year????
Golo,
You are right as usual, it is not legal to lend money & get more than 1% p.m. Pesos OR US $. Everyone DOES it, but as JazzComm so correctly points out, the difference is made up by a commission element or "Operating Costs"!! The company I deal with IS a legally formed company & has traded legally for over TEN years with NO blemish to their name. You KNOW the details of the company, we have traded this information often in the past. Are you trying to insinuate something again like you did last year? I thought you had got over that stuff when you wrote that nice e-mail some 10 weeks ago!! Salutations - Grahame.
Buyer Beware
As far as I am concerned, anyone who invests in commercial paper and or fixed certificates in DR outside of the main banks and Bolsa de Valores is taking a "junk bond" type risk.
The big defaults during the 1980's and early 90's were the result of this type of investment, which were outside the normal day to day yields, and by smaller family type banks and financial agencies.
As of this date, I have observed our large banks such as Banco Popular, BHD, Baninter, Progreso and Bancredito as well as Bolsa de Valores and their registered agents. I have monitored this group since 1993 and their record has been excellent. No defaults and no credibility problems.
Yet, I plan to reduce all my investments to less than 60 days due to my distrust of the management of the economy by Hipolito Mejia. The risk factor has increased with the fiscal mood swing by his government and the folly of their ways.
Hipolito speech last night was a recipe for disaster.
TW
As far as I am concerned, anyone who invests in commercial paper and or fixed certificates in DR outside of the main banks and Bolsa de Valores is taking a "junk bond" type risk.
The big defaults during the 1980's and early 90's were the result of this type of investment, which were outside the normal day to day yields, and by smaller family type banks and financial agencies.
As of this date, I have observed our large banks such as Banco Popular, BHD, Baninter, Progreso and Bancredito as well as Bolsa de Valores and their registered agents. I have monitored this group since 1993 and their record has been excellent. No defaults and no credibility problems.
Yet, I plan to reduce all my investments to less than 60 days due to my distrust of the management of the economy by Hipolito Mejia. The risk factor has increased with the fiscal mood swing by his government and the folly of their ways.
Hipolito speech last night was a recipe for disaster.
TW
How can you tell if any of those agencies have had defaults? How about if they have ripped anybody off? I know for a fact somebody Banco Popular ripped off. Did you hear about that one?
Question:
Where do you all go, in DR, for your Financial/Brokerage needs?
I'm assuming most expats have some sort of investment(s) in the American securities market, for example stocks, bonds, mutual funds, CD's, T-bill, T-bonds, muni's, money market etc..
Who is servicing your a/c's?
Did you maintain your relationship with your broker back home? Or, did you find a broker in DR?
What companies in DR provide brokerage services in the American Securities market?
Does DR have comparable brokerage companies like a CharlesSchwabb, Merril Lynch, Vanguar, Fidelity etc....Or, are there american corporations providing these service?
Where do you all go, in DR, for your Financial/Brokerage needs?
I'm assuming most expats have some sort of investment(s) in the American securities market, for example stocks, bonds, mutual funds, CD's, T-bill, T-bonds, muni's, money market etc..
Who is servicing your a/c's?
Did you maintain your relationship with your broker back home? Or, did you find a broker in DR?
What companies in DR provide brokerage services in the American Securities market?
Does DR have comparable brokerage companies like a CharlesSchwabb, Merril Lynch, Vanguar, Fidelity etc....Or, are there american corporations providing these service?
I hold no accounts in the DR. I move money by a variety of legal and traceable means, including credit cards, cash, ATM cards, Western Union, bank transfers, and checks, all depending on the situation. Amount, convenience, urgency, exchange rates, ...
Once money is in an American account, it can be distributed any way I like through traditional means. American Express offers a combination account that has checking, money market interest, ATM access, credit card linked, and securities trading linked. That's a start.
Once money is in an American account, it can be distributed any way I like through traditional means. American Express offers a combination account that has checking, money market interest, ATM access, credit card linked, and securities trading linked. That's a start.
The million dollar question is this:
Are there Brokers or Brokerage companies in DR, american or non-american, who specilize in the american securities market?
Companies who, if an individual wanted to in DR, you could open a brokerage a/c or a company who facilitates trading in let's say NASDAQ or NYSE exchanges?
To put it even more simple, if I wanted to buy 100 shares of Microsoft (MSFT) and I lived in DR and wanted to purchase these shares in DR is there a company down there that I could walk in to open an account and buy these shares.
This question has nothing to do with tax evasion nor avoiding capital gains. Jim's reply slightly hints of an intent on my part to either launder monies, avoid taxes or get information on the like. That's not the deal here. For further insight on my guestioning please refer to my thread in LIVING "your opinion"
BTW: Is this a taboo subject over there in DR, cause I seem to get the runaround whenever I touch this subject.
Are there Brokers or Brokerage companies in DR, american or non-american, who specilize in the american securities market?
Companies who, if an individual wanted to in DR, you could open a brokerage a/c or a company who facilitates trading in let's say NASDAQ or NYSE exchanges?
To put it even more simple, if I wanted to buy 100 shares of Microsoft (MSFT) and I lived in DR and wanted to purchase these shares in DR is there a company down there that I could walk in to open an account and buy these shares.
This question has nothing to do with tax evasion nor avoiding capital gains. Jim's reply slightly hints of an intent on my part to either launder monies, avoid taxes or get information on the like. That's not the deal here. For further insight on my guestioning please refer to my thread in LIVING "your opinion"
BTW: Is this a taboo subject over there in DR, cause I seem to get the runaround whenever I touch this subject.
Yes there are brokerage houses that you can invest with in the DR. Email me for a link if you want.
with online banking and brokerages, you can open an account and manage it from anywhere where there is a internet connection...
sjh,
I know there are online brokerages. As I work for a brokerage house, am a broker and currently hold 2 online brokerage a/c's.
What I'm looking to decipher is whether or not there are brokerage houses in DR as I am contemplating relocating to DR, I'm looking to get a name of a DR brokerage house(s) so that I may get in contact with them and possibly gain employment.
Thanks Jazzcom,
I've sent you an email. Much appreciated.
I know there are online brokerages. As I work for a brokerage house, am a broker and currently hold 2 online brokerage a/c's.
What I'm looking to decipher is whether or not there are brokerage houses in DR as I am contemplating relocating to DR, I'm looking to get a name of a DR brokerage house(s) so that I may get in contact with them and possibly gain employment.
Thanks Jazzcom,
I've sent you an email. Much appreciated.