I'm considering open a business in the dominican and i would love some information on how to set up a sole proprietorship business and if there are any laws or info i should be aware of. I am an irish citizen living in the united states
I would see a psychologist first. With a certificate of "Sanity" I would go to my pastor and ask his blessing. Then I would ask the Doc for a year's supply of a really powerful tranquilizer.
That said and all the kidding aside, listen.
Business in the DR is really difficult. There hurdles and hurdles within the hurdles. The labor laws are Byzantine to say the least. The horror stories you can hear on any street, talking to any of the local businessmen will scare you away for sure.
There are two ways to go: Formal and informal
Formal is to obey all the laws, pay all the taxes and Social Security and retirement and worker's comp and and and....and have a labor lawyer on the payroll
Informal is to set it up tell the workers take it or leave it, stay under the radar, don't make waves, and HOPE you are not targeted by some "inspector" from Public Health, Labor Department, Social Security, Internal Taxes, Customs, the city council, etc etc
When you know that the Industrial Associations are complaining that manyof their companies are leaving the formal sector to seek profits in the informal sector, under the radar, stealing electricity and water, that tells you something, IMO.
However, there are entrepreneurs that have succeeded. So, come down, explore, talk and then take or don't take the plunge...
HB
It's a gamble.I went the legit formal way-but off the record would recommend the informal way
"what steps do i need to take to start a business in dominican republic".....
Answer, learn how to continuously walk 1 step forward, 3 steps backward....
I too am interested in ligitimate business. Does anyone have a link to how to set up employees for payment. Also it has been stated that a laundry mat would not work because of the unreliable electricity. Yet how do hotels keep their linen clean. I know people wash clothes by hand but the abundance of linens.