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  1. #1
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    Thumbs up Thinking about relocating to dominican republic

    I'm a 33 year old Dominican female who came to NY when I was eight.I was born in Santo Domingo, but fell in love with santiago while on vacation. I visit Santiago every 4 months. During one of my vacations I bought a 4 bedroom house in a nice neighborhood and a car. After I bought this house I noticed that my desire to relocate to DR has increased. I could never afford a house like this in the states. I heard someone say that If you have your own home and a million pesos you have the potential of living well in DR. I have become interested in opening my own business in santiago. I'm thinking of opening either a bar,pawnshop, or some type of food business or maybe getting into money lending. I'm wondering how well off I could be if I was to relocate to DR having my own home, a 400,000 dominican peso cd investment and 20,000 US dollars to invest in a business. Could one open a profitable business in DR with 10-20,000 US dollars? Your replies will be welcome.

  2. #2
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    I think w/ so little capital, you should stay away from any forms of lending. I mean, DR isn't the capitalist society as here in USA. People just don't have jobs to support a great deal of interest payments and such. Also, I have a feeling that w/ a pawn enterprise, people may bring you things that they care nothing about you keeping, but no one else having the funds (or motivation) to actually buy it from you. From what I hear, credit reporting is less of an option, and the only collection agencies that I have heard of are ones that chase down people on motorcycles and break their legs with clubs!

  3. #3
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    Agree, stay away from lending. I think it can be done with US$20,000 if it is home-based. But you have to be creative to come up with something that is in demand. With the exception of you being a great cook and doing home catering, none of the other businesses would work with that amount of funds. Keep on thinking.

  4. #4
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    Default Bed & breakfast?

    Have to agree with you that Santiago is a wonderful place to live & work but, as with any business anywhere in the country, you need to do some very detailed research into what would sell or what is there a need-for in Santiago. Before you jump into anything, it would be best to take an extended vacation to do a lot of looking & asking a lot a questions to those that have actually made it a home and business there.
    Talk to lawyers, expats, & professionals to see what is and isn't legal & what makes the city "tick". Stay away from the get-rich-quick schemes that are sure to come your way & invest your $$$ only after you've got ALL the facts in & feel comfortable that you have a better-than-average chance to succeed.
    Another thing: Don't let people know you're looking to start a business UNLESS these are people mentioned above. If some sankie etc. knows you have $$, they'll try to beg, borrow or steal it from you. Don't let unprofessionals influence you either. That includes "trustworthy" family members.
    You have ONE shot at spending the rest of your young life in comfort & no bone- chilling weather!! So, just be careful OK? .....I sincerely wish you the best in your endeavor. Mucha suerte.
    Last edited by Don Juan; 01-05-2006 at 03:30 PM.

  5. #5
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    Thanks for that advice Don Juan
    It makes sense

  6. #6
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    The best advice is to go as slow as molassas in wintertime...really really slow.

    With that basis, I would suggest that you visit the city for a month or so and go around, looking at what is working.
    Children's clothes??Not.
    Call centers? Maybe
    Internet café? Competition, but maybe
    Food related? Slavery
    Health care? Good possibility
    Taxi service? Also a possibility if done right

    What did you do in the US to accumulate this capital? Think about doing it here...

    Lending money is high risk, and you have little guarantee, unless you have a gorilla at your service. Beside, I always see people that lend money suffer agonizing diseases....bad luck, I guess..

    As for a bar, that depends on your demographic. Truthfully speaking, I am not the best prophet for this area, you should ask people like AZB and badpiece, since they are more knowledgeable on that topic than I. However, it is a tough business. Perhaps you could buy into a going bar, but, like the food business, it is close to slavery...

    Good Luck.

    In Santiago, I am at your service,

    Cordially

    HB

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