investment in hotel project

If you get your residency and are a US resident put it in a corporate name and you can earn up to 80k tax free to the US.

You can take up to 10k to the US each trip without even declaring it. No restrictions on the DR side.

Residency is easy and costs 1000 dollars US approx. That will help but the Attorney that does it for you means more.

Cant answer about the incentives by government because I don't know.

Anoeca whom you will have some sort of relationship with is the same company I invest money with and have the highest regard for Alberto and the Company.

Say hi to Billy for me. He has a captured audience he has built up for years that is loyal. How he does with the hotel remains to be seen so you have to figure that one out and place your bets

I hope this helps. I am starting to invest in Real Estate on the North Coast at this time because I feel that it is at the bottom of the tourism cycle. If I am right this may be a good bet for you. If I have it wrong you need to depend solely on Billy to bring home the bacon.

Scott

jazzcom said:

You can take up to 10k to the US each trip without even declaring it.

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They do ask though on the customs declaration form (gringos too) if you have more than US$10,000 , and while not restricted (the US does not restrict it either, you just have to declare over $10,000) , I'd think putting it down would expose you to some scrutiny.

That said, I have occasionally put down Knute Rockey as the name on the form and they don't even look at it, if in fact they take it al all. Most times I just walk out near Banco Rservas and they don't seem to notice or care.

Comon Rick, I stil cant get over the SOB stamping my passport on the way out asking for a propina when I last left the country. This place is like Wonderama! Whats worse is that the Dominicans think it is a normal way of doing business.

Scott

Re: you got me

Manfred71 said:

Seems it?s a pretty small world out there)

I tried to be vague about the project but still you easily found out.

I like his idea but there are some financial procedures that I have to understand first before taking action.
And for someone far away (Austria not U.S.) it?s quite difficult to really keep track of what?s going on.

And litigation in case of troubles is almost impossible from that far away if you have to fight a "local".....

Still, I wish you success with your enterprise,
Manfred

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One thing you never want in any investment is to fight with anyone! It should be a good deal for everyone.

You gave out the exact figures. I can give you the exact location and topography of the property and the present owner if you like Hell I can even tell you how many rooms and what stages it will be built in. I gave you the guys name that will be holding your money till the project takes off already. Just say I am good!

I don't know what financial procedures you are referring to. If I did I would comment if I thought I had a answer.

Thanks for your wishes but I am doing minimal so far in the DR. See me in a couple of years

Kindest regards,
Scott

At least inbound.............

jazzcom said:

Comon Rick, I stil cant get over the SOB stamping my passport on the way out asking for a propina when I last left the country. This place is like Wonderama! Whats worse is that the Dominicans think it is a normal way of doing business.

Scott

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Knute Rockney lives. I note that I misspelled Rockney as Rockey in my last post.

I think you could say you had a case of live virulent monkeys and a billion $ in cash on those forms.

Yes even after I fill out the forms they ask for the 10 dollar entry/exit visa and it says I am a resident. Maybe they just cant read