If you do, make sure you use his $$$ to capitalize it, unless you like setting your money on fire.
- Thread starter camillej
- Start date
Looking to open a business in Santo Domingo
Can he prove he was born in Santo Domingo of Dominican parents with a valid birth certificate issued here in the DR? Then he should be able to get citizenship quickly. (I ask the question only because of the current situation with Haitians in the DR.)
Yes he can but his mother is Dominican and his father is Chinese, don't ask lol. Does this affect his citizenship? Also, how does residency work for him?
With all that being said, if he open the business under his name, it there a visa I can get to work in it legally or would I just have to "lay low".
It is a joint effort and I know that Dominicans have a bad rep in this department but I can assure you, I wouldn't even consider it if I didn't feel 100% safe.
I think he should be fine just getting citizenship as long as he can get that birth certificate, but that is a quick thing to check with the lawyer here on DR1 in the legal forum. There would be no reason to go through the hassle of residency if he can just get citizenship directly.
For you, you would have to be a legal resident to work legally.
Ticklish issue....
Easily you could work beside him doing what you wanted.
No paycheck for you... or obvious title/position... the regular 'wife' role
You'd not attract attention IMO.
Ultimately, you'll want/need residency....
Easily you could work beside him doing what you wanted.
No paycheck for you... or obvious title/position... the regular 'wife' role
You'd not attract attention IMO.
Ultimately, you'll want/need residency....
If the business is in a corporation and you are a shareholder and an officer of the company, you can work here for that company, I believe. The corporation will get an RNC number. Please talk to a good lawyer and do not take advice on this from DR1 members or members of any other forum.
You don't need to be a citizen or even resident (even temporary for that matter) to open a new biz in the DR.
You can carry out 99% of the legal and paperwork as you are. The other 1% relates to licensing and certain aspects which would require that you name a legal agent to represent you and your biz in the DR for certain instances.
Your Bf can get his citizenship with relative ease, not so much for the timing it takes from here to there.
You can't work, even in your own biz, in the DR without having obtained a Cedula (Social Security Card).
This you can get like this:
Incorporate your biz in the DR under your name and your brand.
File all the required legal stuff for that new biz as you can under your status.
Exit the DR and head to your home country.
Visit the closest DR consulate in your home country or the one closest serving it.
Apply for an immigrant Visa.
Get all the paperwork apostillado both by your country authorities and some of it at the DR consulate prior to departing to the DR with the new Visa.
File your paperwork on arrival in the DR, following the needed documentation as detailed updated by immigration.
Once you receive your temp residency, go get a Cedula.
Follow the paperwork for your biz from there, open bank accounts, etc...
Now you can both own the biz and work in it legally in the DR.
It will save you lots of headaches down the road by doing it all legit, from day 1.
Can it be done half legit and half on a leg? Yes! But oh! So not worth it should anything that causes legal troubles happen during that time.
Here is how to get birth certificate. It is relatively straight forward and with that he can get a cedula.
http://jce.gob.do/Registro-Civil/Pr...61-dnde-puedo-solicitar-mi-acta-de-nacimiento
Matilda
http://jce.gob.do/Registro-Civil/Pr...61-dnde-puedo-solicitar-mi-acta-de-nacimiento
Matilda
I will be very interested to hear the proper response to this idea...
That no residency is needed to work in your own corporation.......
That's not a little loophole.... it's a highway tunnel..... gaping
If it looks to good to be true......
Any Dominican in Santo Domingo can tell him where to get for his cedula once he has his birth certificate.
My husband has a good friend whose mother is Dominican and father is Chinese. His name is Jose but everyone calls him Chino, of course.
Dominicans are not PC, lol.
My husband has a good friend whose mother is Dominican and father is Chinese. His name is Jose but everyone calls him Chino, of course.
Dominicans are not PC, lol. LOL I call my boyfriend Chino!Any Dominican in Santo Domingo can tell him where to get for his cedula once he has his birth certificate.
My husband has a good friend whose mother is Dominican and father is Chinese. His name is Jose but everyone calls him Chino, of course.
One last question (I'm probably lying) does anyone have experience with business loans in DR? In the US I can get one easily but have no desire to open a business here. Wondering how difficult it would be in DR since my BF will soon me a cedula wielding citizen.
If you have enough collateral, many will loan money to you for whatever you want.
For 3-3.5% per month.
This ain't Kansas, camille...
What business experience do you have in the states?
Oh for sure I know it ain't Kansas lol!
I do not own a business in the states but I have worked for a major cosmetics company in Marketing for years. For what I want to do in DR, I have seen many non-experienced gals do it an have been successful but they are clearly not open to giving advice to someone who could possibly be competition. Nature of the beast I suppose.
Like Cobraboy indicated, it's possible to obtain business loans in the DR. It's the bread and butter of many financial lenders here in the DR.
The reality of it lies with the collateral available to guarantee it.
Most Dominican people use these sources as short term loans, when liquidity is needed in a short notice, but capital income flows will cover for that and interest in the short to mid term. Most loans like these are repaid between a 90 day period. Others around 6 months. A very few will see a full term in a year, unless it awaits recapitalization based on a year end EBITDA report from the CPA to ward off conflicts based on how the loan was used on the company's expenditures for that fiscal year.
Is it worth doing so? Depends on your cash flow and ability to carry debt for that young company.
Big players like Corripio utilize short term loans to buy and import goods, which the bulk of them go to satisfy short term contracts, hence why it's preferred to use outside capital and take a cut in profits rather than dry the liquidity of the company to do the same. Liquidity of a biz in the DR is important due to our need in terms of natural disasters and imported main energy materials susceptible to unpredictable weather systems and global markets accordingly.
It's not a good idea by standards to start your biz with newly minted debt. This will rob you of flexibility should your biz plan need to evolve in order to adapt to market conditions or reality vs your conceptual biz model.