I recently married a Dominican and she is now living here in Miami. She has all her proper paperwork done here and is presently working here. We would like to start a business in the Dominican Rep and would like to ship clothing and have her family open up a store. I have a connection to get the clothing and would like to ship the clothing down there by container. I assume putting the company in her name would be best as she is a Dominican citizen. What things do I need to know about importing clothing from Miami...tariffs and other fees? She has family members who will be the employees.
- Thread starter pmey27
- Start date
legal advice for starting a business
Why on Earth would you want to put company in HER name? I am a foreigner and have my company in my name, same as MikeFisher, Robert, Cobraboy and countless others.
Putting the company in her name is a recipe for future disaster (your financial).
Putting the company in her name is a recipe for future disaster (your financial).
Pmey27, a few thoughts.
I don't want to rain on your parade, but you may want to take this endeavor slowly. First, find out if you can even import used clothes as I thought that was not allowed any more. Second, if you can, try a few smaller sample efforts to test aduana and to test your selling market before you even think about starting a company. Then, if everything is ok and looks good, still don't know why that you would need the complication of a company. However if you do go that route, I agree with Rubio that for it to be only in your name as I see only disadvantages to have it in your wife's name. I would also never recommend using family members in a business as this can affect your decision making and cause big problems at home when the inevitable problems with the business occur.
As a side note, remember that any business that requires importing items into the DR is extremely risky as aduana is erratic in their procedures. Beware of people who swear that they have "connections" in aduana as it rarely works out. I knew a couple of guys who years ago started a similar enterprise. The first containers went well, then as the business increased, aduana decided that they had been calculating incorrectly. The result, the last few containers were left to aduana as the tax bill was twice the value of the items imported and they were assessed a huge fine for the prior "undervalued" shipments. They ended up leaving the country to avoid the taxes and lost a small fortune. Be careful.
I don't want to rain on your parade, but you may want to take this endeavor slowly. First, find out if you can even import used clothes as I thought that was not allowed any more. Second, if you can, try a few smaller sample efforts to test aduana and to test your selling market before you even think about starting a company. Then, if everything is ok and looks good, still don't know why that you would need the complication of a company. However if you do go that route, I agree with Rubio that for it to be only in your name as I see only disadvantages to have it in your wife's name. I would also never recommend using family members in a business as this can affect your decision making and cause big problems at home when the inevitable problems with the business occur.
As a side note, remember that any business that requires importing items into the DR is extremely risky as aduana is erratic in their procedures. Beware of people who swear that they have "connections" in aduana as it rarely works out. I knew a couple of guys who years ago started a similar enterprise. The first containers went well, then as the business increased, aduana decided that they had been calculating incorrectly. The result, the last few containers were left to aduana as the tax bill was twice the value of the items imported and they were assessed a huge fine for the prior "undervalued" shipments. They ended up leaving the country to avoid the taxes and lost a small fortune. Be careful.
one of the only ways to be even partially successful in business in the DR, as a foreigner, is to do something Dominicans cannot do themselves. if you try to compete with established forces, they will squash you . that is why everything stays in the stone age, because the big players do not permit newcomers to invent better mousetraps. if you come with a new idea, but something that they can duplicate, there will be 100 imitators on your street by the end of the week. add into the mix the fact that if your location is successful, Generalissimo Pepe might just decide that he wants it for himself. exercise caution when pondering a venture in this land. do not listen to nonsense about putting your business in your girlfriend?s name. it is easier to just give it to her at the beginning, and avoid legal hassles down the road, as she will surely be devising a way to muscle you out of it, should you realise any degree of success. it is not a pleasant scenario, i assure you.
thanks
thanks everyone for your input and there is no rush for us to start a business there and we are serious though about the possibilities. I have a good connection for good name brand used clothing but people on this board say the import of such is prohibited.
thanks everyone for your input and there is no rush for us to start a business there and we are serious though about the possibilities. I have a good connection for good name brand used clothing but people on this board say the import of such is prohibited.
neither is a good pica pollo. if someone comes up with a good chicken, it will sell well. not just another chopped up bird fried in a vat of lard. something interesting, tasty, and healthy. maybe someone could try something on the order of tandoori, which is magnificent, and as simple to make as the rubber birds you buy at places all over the land.
Always thought a chain of modern coffee shops could do well. Starbucks style but with proper Dominican coffee.