info/50k

guy

New member
Feb 17, 2007
3
0
0
Hi to all,

I'm currently wanting to relocate to DR wtih 50 grand. I want to open up a small business and looking for advice. It seems that many people fail for wich ever reason it might be in their first year or so. Please let me know any type of info that would benefit my success. I currently have a brother who just relocated and is looking at different opportunities. Although he lives in Puerta Plate he works out of DR. Anyhow if you could help me with any sugestions or advice, I would be very gracious.

P.S. First drunk is on me!

Guy
 

Sharlene

New member
Mar 4, 2006
285
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0
Is that dollars or sterling.....

Because that will make a big difference to your future plans. 50,000 of any currency doesn't go very far here....

I've been here only 6 months but seen businesses come and go during that time. I've also seen people's dreams crushed with the realisation that it takes a lot more than just dreams and hard work to make a business work here. Many people arrive with the profits they've made on their properties in UK or wherever and hope to double them only to lose them completely and end up scrabbling around to pay their rent on a studio apartment here.

I'm sure the long term residents will give you tons of advice, but from my short stint here I'd say don't make any hasty decisions. If you don't speak fluent Spanish then I wouldn't even go ahead. You need to spend at LEAST 6 months here watching and learning.

Lastly, I'd say don't hope to make a quick profit as any investment here at this time, be it in property or business, should be considered long term. It takes time to build a successful business in any country, and your money may run out long before that happens....

Sorry if it seems as if I'm `p*****g' on your bonfire' but being here in the short time I have has opened my eyes a LOT..... I had little daydreams about running a `little' business here, but now I wouldn't dream of it. The people I see who ARE successful are long term residents who speak fluent Spanish and have `done their time' so to speak. They know how the system works and they know what their limitations are. Even then, they're constantly being bombarded with new rules and regulations which can make or break small businesses.

The DR - ENJOY your time.....but TAKE your time. That's my little bit of advice.

So, welcome to the DR Guy. I sincerely hope that everything works out for you.
 

Tuan

New member
Aug 28, 2004
204
2
0
One year on the ground living on the local economy, not as an ex-pat.
Fluent Spanish -- a decent, educated, working mature girlfriend helps.
Decide what and how to do after a year and after you have a firm network of respectable and proper friends both Dominican and ex-pats (Euro and N.A.).
 

Robert

Stay Frosty!
Jan 2, 1999
20,574
341
83
dr1.com
Great advice and it's usually the people that don't follow the above advice that fail. If you only have US$50,000, then you better know the lay of the land pretty well, if you don't, that will be eaten up much faster than you ever budgeted for.
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
936
113
I find it quite amusing that many folks who have never started and run a business in their entire life think they can bring their nest egg to the DR (or anywhere) and just pop open a business expecting success.

IMO, the DR would be MUCH more difficult to start a business in than almost any 1st World country. There just isn't a whole lot of $$$ in the DR to prop many businesses up.

And I've been self employed/in business for over 25 years.
 

amparocorp

Bronze
Aug 11, 2002
900
86
0
50k spent on a business and you will be broke in 6 months or less. 50k in a peso account, in a bank, add a Dominican girlfriend who works (real job), don't be drunk all the time, and i think you can have a happy 2-3 years. marry girlfriend right away, get her pregnant. start visa application.

when your 2-3 years is up and it is time to go back to your country you will want to take her with you. a woman this beautiful, in your home country will not talk to you. you are an ugly loser. visa should be ready about now and you won't have to come to this board asking stupid visa questions.

thank goodness for baby, she will not like your country being alone with you and not having her large family and friends around like in the DR. baby helps end the homesick jag.
 

jruane44

Bronze
Jul 2, 2004
1,025
44
0
A, A
50k spent on a business and you will be broke in 6 months or less. 50k in a peso account, in a bank, add a Dominican girlfriend who works (real job), don't be drunk all the time, and i think you can have a happy 2-3 years. marry girlfriend right away, get her pregnant. start visa application.

when your 2-3 years is up and it is time to go back to your country you will want to take her with you. a woman this beautiful, in your home country will not talk to you. you are an ugly loser. visa should be ready about now and you won't have to come to this board asking stupid visa questions.

thank goodness for baby, she will not like your country being alone with you and not having her large family and friends around like in the DR. baby helps end the homesick jag.

Looks like somebody is having a bad day.
 

coho

On Vacation!
Mar 4, 2007
42
0
0
50k spent on a business and you will be broke in 6 months or less. 50k in a peso account, in a bank, add a Dominican girlfriend who works (real job), don't be drunk all the time, and i think you can have a happy 2-3 years. marry girlfriend right away, get her pregnant. start visa application.

when your 2-3 years is up and it is time to go back to your country you will want to take her with you. a woman this beautiful, in your home country will not talk to you. you are an ugly loser. visa should be ready about now and you won't have to come to this board asking stupid visa questions.

thank goodness for baby, she will not like your country being alone with you and not having her large family and friends around like in the DR. baby helps end the homesick jag.

Next time don't sugar coat it...
 

J D Sauser

Silver
Nov 20, 2004
2,940
390
83
www.hispanosuizainvest.com
I was going to say something (actually even wrote it here) but then I don't want folks on here to suspect I had a bad day like one thought amparocorp must have had.
Cuz, no Sir, I am actually enjoying myself quite a great deal here... but then, my plans in this country are different ...

So, I will just limit myself and tell you "chapeau" in advance to you my dear GUY, if you manage to pull that one off, successfuly.

... J-D.

But then, didn't Billy Gates start of his modest fortune by buying a little program he later called MS-DOS from some geek down in Miami fer 50K and licensed it to IBM for... ? So, it can be done!
 

Lambada

Gold
Mar 4, 2004
9,478
410
0
80
www.ginniebedggood.com
One year on the ground living on the local economy, not as an ex-pat.

That's how we did it, too. :) The lessons learned were invaluable, the respect garnered from the locals was a terrific foundation. But that was 14+ years ago when it was easier to do this. I guess in your case it was 20 years ago? Much harder to do this now that there are more expats here. But not impossible - reading between the lines looks like Chip00 did it this way, and it certainly seems he benefitted from the experience. I am so totally in favour of walking in the other guys' shoes for a year.
 

guy

New member
Feb 17, 2007
3
0
0
Thanks for all your comments!

I'm gracious for all replies good or bad. Either way thanks for posting your opinions and answering what i strongly suspected!

Sincerely,


Guy


p.s. will keep saving!!!!!!