- Thread starter Jwb
- Start date
Business License
I'm not a lawyer or expert (Fabio can handle that), but you will need to have a gov't issued number for employees. This is akin to the business license. A cedula is also needed because most businesses require them (e.g. telephone, electricity). Business insurance (liability) is just smart so I'd get that as well.Jwb said:
Oh, yeah, you might want to think of a clever name "30ish Peso Stores" doesn't roll off the tongue <smirk>
Castellamonte said:Oh, yeah, you might want to think of a clever name "30ish Peso Stores" doesn't roll off the tongue <smirk>
I know of one called "20 y 10".
Cedula's take time but I'm sure there is a workaround. Fabio can help or I heard some other lawyer mentioned out here.Jwb said:
You don't need a cedula to buy or start a company. You need a cedula to work legally but not to own legally.
The business of having a company in order to put real estate under it, is a little different to having a company that you plan to legally employee people under and do business here.
That said...
My advice would be to get a cedula if you plan to do retail business here.
If you don't have a cedula, you cannot legally work in your own business.
Will you get caught, maybe not, but why take the chance. The tax department are starting to get their act together here and more and more businesses are felling their hear here.
Talking of the tax man...
The part that takes the longest is an RNC (Registro Nacional de Contribuyentes) or tax number. It's pretty straight forward to create a company, but it takes a while to get a RNC or tax number. Lots of "legit" businesses now days will not do business with you unless your invoices etc have an RNC number.
Once you have the company formation out of the way, now the fun really begins. Then you get into the business of employing people, dealing with utilities, stock, security and the joys of dealing with the public
If your not a good Spanish speaker and very well versed in the DR, I personally think you will have a tough time owning and running a US$1 type store. Especially taking into account the areas these types of stores work best in.
Good luck and keep asking questions, we are here to help.
That said...
My advice would be to get a cedula if you plan to do retail business here.
If you don't have a cedula, you cannot legally work in your own business.
Will you get caught, maybe not, but why take the chance. The tax department are starting to get their act together here and more and more businesses are felling their hear here.
Talking of the tax man...
The part that takes the longest is an RNC (Registro Nacional de Contribuyentes) or tax number. It's pretty straight forward to create a company, but it takes a while to get a RNC or tax number. Lots of "legit" businesses now days will not do business with you unless your invoices etc have an RNC number.
Once you have the company formation out of the way, now the fun really begins. Then you get into the business of employing people, dealing with utilities, stock, security and the joys of dealing with the public
If your not a good Spanish speaker and very well versed in the DR, I personally think you will have a tough time owning and running a US$1 type store. Especially taking into account the areas these types of stores work best in.
Good luck and keep asking questions, we are here to help.
Selling Real Estate in DR
I'm a full time Realtor in Miami, FL and I am very interested in expanding my business to DR. What are the steps that I need to take?
Does DR require me to have a license?.. or just purchasing a simple permit like in other countries in the caribe will do? Barbadoes.. Trinidad... Jamaica... for example...
Please anybody with any info will be greatly appreciated....
Thank You.
I'm a full time Realtor in Miami, FL and I am very interested in expanding my business to DR. What are the steps that I need to take?
Does DR require me to have a license?.. or just purchasing a simple permit like in other countries in the caribe will do? Barbadoes.. Trinidad... Jamaica... for example...
Please anybody with any info will be greatly appreciated....
Thank You.
Well sure you can buy or start a company without a cedula, but you won't get very far. Try opening a business bank account or getting services from utilities without a cedula!Escott said:
Anybody can be one, which means everybody is one. Although this sounds like "opportunity" it can also be one heck of a large headache.Robert said:
Consider commissions (not regulated), listing rights (not regulated), listing services (not regulated) and the list goes on on what you cannot depend upon. It makes real estate a gamble, to be sure, and one you have to spend fulltime on to remain successful consistently.