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  1. #1
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    Default I would like to move to Sosua

    Hello everyone, I am new to the site and I want to move to Sosua.
    I want to get out of the rat race, want to get away from winter, get away from pollution, fog and stress.
    I'm 37, my wife is 33 and we have a 3 year old son. We live in Milan (Italy) at the moment and I hold both British and Italian passports while my wife is full Italian.
    I have a basic knowledge of Spanish that I aquired when I worked in Madrid for a year.
    It would be an all out move with the idea of starting a business. We also need to take care of our 3 year old son. Finding the right school/education for him.
    I’ve been dreaming of moving to the Caribbean for quite some years.
    Never had enough courage to make the move as I was probably too young and not experienced enough.
    I picked the DR because I feel comfortable with it, just the place I would like to try and relocate to. The DR feels like it’s growing. Wouldn’t like to move to a place where there is no room for future development. Virgin Islands as an example are already “there”, if you know what I mean. Cuba could be another option but not in the short future…
    Business wise is where I have the most doubts. I’ve been working in various industries but for the last 13 years I worked in the financial industry. As a institutional broker for banks dealing in governments bonds on the Italian domestic market. So I have no real “handy” experience to put into something. I would probably go for a bar or restaurant having grown up in this business having a father that owned bars and restaurant. And is probably the best option since the major industry in DR is tourism. Also a small hotel could be an interesting option.
    My wife is the typical city woman, busy with her career (director of a private school for foreign languages) and enjoys shopping, going out, spending hours on the phone etc etc… I think she is the one that might “suffer” the culture shock more than myself but, you never know. It could be the other way round. Having said that she loves the beach, the sun, the hot weather and really enjoys helping others. She is good at organizing things and is awesome in PR.

    How much would a family need to be earning to live a comfortable life in Sosua ? What sort of expenses should I consider ? The house would cost about 400$ p.m. including all comforts, maintenance and maid. Another 200$ or so for school and insurance, could a family like mine live on 1000/1300$ p.m. considering I have no mortgage or rent ? Investing in time deposits denominated in Dominican Peso, could offer yields up to 15/20% for a bank CD or up to 24% for commercial paper. What is the bank industry like? Is it reliable? Do any of you bank there or do you keep your money in your home country ?

    I’m not talking about a retirement move as such, I am too young not do anything all day, but a better quality of life. It is a big move, especially from Italy. Considering the family attachments and all that comes with it. Any advice ?

    Thanks

  2. #2
    Honorificabilitudinitatibus
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    Most people lose their shirts, doing what you plan to do.
    It doesn't mean you can't do it, but the odds are against you.

  3. #3
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    Default

    The first thing you should do, is go through and read all of the numerous threads about living, moving and working in the DR, and then come back with more specific questions, believe me, some of the answers you are seeking is in the threads, just take the time and read them. Also, focus on the "stickys" at the top of the forums, real important.

    good luck

  4. #4
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    Quote Originally Posted by Rocky View Post
    Most people lose their shirts, doing what you plan to do.
    It doesn't mean you can't do it, but the odds are against you.

    Are you're talking about CD's and cross currencies or tha actual living over there ?

  5. #5
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    why sosua ? i just left Boca Chica 2 weeks ago and i saw numerous properties for sale including apartment buildings. additionally, BC is only 20 minutes from the capital.

    for the tourism angle, the north coast may be your best bet...

  6. #6
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    Quote Originally Posted by hornet View Post
    Are you're talking about CD's and cross currencies or tha actual living over there ?
    I was talking about coming here an opening a business, specifically, a bar or restaurant.
    It's a bit tough to work within the Dominican framework, until you understand it well, and that can take a long time and cost a lot of money & grief.

  7. #7
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    Quote Originally Posted by Rocky View Post
    I was talking about coming here an opening a business, specifically, a bar or restaurant.
    It's a bit tough to work within the Dominican framework, until you understand it well, and that can take a long time and cost a lot of money & grief.
    OK, I see what you mean but, are you just talking about mentality or corruption and payoffs to actually get started ?

  8. #8
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    Quote Originally Posted by hornet View Post
    OK, I see what you mean but, are you just talking about mentality or corruption and payoffs to actually get started ?
    Mentality more than corruption.
    Employee problems.
    All sorts of things.
    It's like moving to another planet and having to learn how extra-terrestials think.

  9. #9
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    Quote Originally Posted by Rocky View Post
    Mentality more than corruption.
    Employee problems.
    All sorts of things.
    It's like moving to another planet and having to learn how extra-terrestials think.
    I understand, big issue no doubt but lets say I have 50K to throw away, would that start me up and give me a chance at goal ?

    What about the money issue ?
    You know about banking and CDs, what can you tell me.

  10. #10
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    Quote Originally Posted by Rocky View Post
    Mentality more than corruption.

    It's like moving to another planet and having to learn how extra-terrestials think.

    it certainly seems like that many times......it cant be inate...it HAS to be a learned thing

    bob

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