Overseas investor

Stefano1

Newbie
Mar 15, 2018
6
0
0
Hello.
I am looking for information i regards to investors overseas wanting in on our company and how to handle $50-100k transfers from abroad?
I have usd accounts in both banreserva and progreso but have never received higher than 10k per transaction.
I also have an s.r.l if that makes any difference.
Any insights or experiences?

Thank you
 

LTSteve

Gold
Jul 9, 2010
5,449
23
38
Hello.
I am looking for information i regards to investors overseas wanting in on our company and how to handle $50-100k transfers from abroad?
I have usd accounts in both banreserva and progreso but have never received higher than 10k per transaction.
I also have an s.r.l if that makes any difference.
Any insights or experiences?

Thank you[/QUOTE

Are you serious because your post comes across as a scam? If you already an established relationship with two banks then why are you not asking them your question? Do you think we are that naive? Come on man!!!!!
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
23,069
6,216
113
South Coast
For someone in business, your question is odd indeed. Any bank can transfer any amount of money to another bank, if over $10,000 USD there is paperwork to complete. Nothing more. 

How do you think people buying a home in DR get the money here????
 

Stefano1

Newbie
Mar 15, 2018
6
0
0
Again apologize, My business is only local up to this point. I dont know why my question is so offending. just looking for those exact experiences where people for example buy houses etc. I don´t know and thats the reason for asking.
The bank cant tell me what papers I need or how to prepare them. I dont want to just have him send the money and then be stuck for papers for a month.
 

chico bill

Dogs Better than People
May 6, 2016
12,543
6,306
113
For someone in business, your question is odd indeed. Any bank can transfer any amount of money to another bank, if over $10,000 USD there is paperwork to complete. Nothing more. 

How do you think people buying a home in DR get the money here????

On property you can deposit into a US or Canada Escrow office like American or Stewart Title and the title company handles the transaction and your local lawyer helps get the paperwork in order. Better than the transfer of cash for the cost of a home to a DR bank
 

melphis

Living my Dream
Apr 18, 2013
3,486
1,675
113
I thinking anyone trolling a public website looking to invest up to 100k is either a scammer or not quite dealing with a full deck. This country has more banks than I can count. I'm sure most if them woukd welcome you and your money.
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
11,589
8,064
113
Again apologize, My business is only local up to this point. I dont know why my question is so offending. just looking for those exact experiences where people for example buy houses etc. I don´t know and thats the reason for asking.
The bank cant tell me what papers I need or how to prepare them. I dont want to just have him send the money and then be stuck for papers for a month.

Then you have the wrong bank. Pure and simple.

My bank officers have walked me through a lot of different transactions and held my hand all the way.

Do you speak spanish Stefano?
 

Joe Boots

Member
Jun 16, 2008
353
14
18
Again apologize, My business is only local up to this point. I dont know why my question is so offending. just looking for those exact experiences where people for example buy houses etc. I don´t know and thats the reason for asking.
The bank cant tell me what papers I need or how to prepare them. I dont want to just have him send the money and then be stuck for papers for a month.

Take a bank check. There needs to be a payee on a Bank Check. If you move cash then you have to declare it, and I do not know what other Customs forms are required. But there is a requirement. I have never tried a significant wire transfer.
 

the gorgon

Platinum
Sep 16, 2010
33,997
83
0
both couldnt really give clear answers hence looking for actual experiences if any.

i don't mean to pile on, but if a BANK cannot give you information about a BANK transfer, why do you think some guy on a website would know something the BANK does not know?
 

Stefano1

Newbie
Mar 15, 2018
6
0
0
Thanks for the replies, I am not the one looking to invest 100k anywhere and I am not trolling or scamming.
The only reason I came here for information is that I have read alot of good information here based on experience.
I am afraid my post got horribly misunderstood and again I apologize. But you are right, If the bank can´t tell me what is needed then I might be banking with the wrong banks for 4 years, Yes I speak fluent spanish.
I dont think anyone knows anything better or more than the other, just looking for a helpful tip. Like I said Banreserva told me I need to prove the source and I get it. I guess I will go ´troll´ the other banks for more information. :)
 

Russell

Well-known member
Jun 17, 2017
1,056
337
83
Thanks for the replies, I am not the one looking to invest 100k anywhere and I am not trolling or scamming.
The only reason I came here for information is that I have read alot of good information here based on experience.
I am afraid my post got horribly misunderstood and again I apologize. But you are right, If the bank can´t tell me what is needed then I might be banking with the wrong banks for 4 years, Yes I speak fluent spanish.
I dont think anyone knows anything better or more than the other, just looking for a helpful tip. Like I said Banreserva told me I need to prove the source and I get it. I guess I will go ´troll´ the other banks for more information. :)

I have transferred significant funds to Scotiabank with no problems whatsoever....That is all I can contribute.....
 
Jan 9, 2004
10,890
2,215
113
Thanks for the replies, I am not the one looking to invest 100k anywhere and I am not trolling or scamming.
The only reason I came here for information is that I have read alot of good information here based on experience.
I am afraid my post got horribly misunderstood and again I apologize. But you are right, If the bank can´t tell me what is needed then I might be banking with the wrong banks for 4 years, Yes I speak fluent spanish.
I dont think anyone knows anything better or more than the other, just looking for a helpful tip. Like I said Banreserva told me I need to prove the source and I get it. I guess I will go ´troll´ the other banks for more information. :)

You should have no difficulty wiring between banking institutions.

Many banks charge what is called an Analysis Service Charge i.e., a check on the source of those funds and how long they have been in an account (seasonality), or if in business, the average monthly balances on those accounts. Any anomalies may get further scrutiny.

My clients, one of whom is a major car dealer in the DR regularly wires and receives much larger sums than you reference in your initial post.

Both banks are putting you on notice.....that you may be called to verify the source of those funds, which given the penchant to try and launder money into the DR.....is likely the main reason for their cautiousness.


Respectfully,
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