Newbie Gringo Looking For Sage Advice

Palladin

New member
Nov 16, 2007
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This is a great resource fro anybody considering involvement any kind of involvement with the DR and am glad I found it. However, it's been more useful in creating more questions for me than anything else.

I'm considering buying a small business in the hospitality industry on the North Coast around Puerto Plata.

But after reading some of the articles here, the place is sounding more like a socialist hellhole than a tropical paradise.

The last thing I need is to invest in a business with good faith and end up as a welfare hostage to the employees. The story about the gringo (caribee?) who ended up really "buying the farm", after a dispute with some drunken reprobate he employed, was really particularly creepy.

Now, I'm starting to have second thoughts and more questions.

Do I need to carry a heater or, at least, have a body guard if I run a business that takes in cash?

What could happen if one of the employees becomes disgruntled about something? There are many who make a career out of being the "bad thing" that happens to good people. A business is vulnerable enough even in the US. It sounds like in the DR, things are rigged against the business even more than here.

What is the average hourly fee for a competent attorney and accountant?
Can they be trusted? What about corruption issues - which, for most Latin American-Caribbean countries - is standard operating procedure. How dependable are the cops ..and how much could they cost?

Americans aren't real popular anymore in most parts of The World. Is this a factor in the DR too?

Thanks
 

Hillbilly

Moderator
Jan 1, 2002
18,948
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Whoa there pardner!! Git aholt of yor horses....

Have you lived in the Dominican Republic? Have you read the Labor Laws?
Do not take the case of our good friend Caribee as typical, but rather symptomatic.

I would recommend at least a three month "walk around" to see what's cooking. Check out the site, the people and so forth.

Lawyers are the same everywhere. The people on this board can recommend some excellent ones there in POP. But lawyers and all they entail are an eventuality....if you do your homework.

How is your Spanish? Have you read "Quisqueya: Mad dogs and English Couple"? It has some interesting paragraphs about realities in that area...

Sit back. Relax. Breath. Let the folks send you suggestions and opinions...since this is a major decision.

HB

P.S. As for most of your questions, you really need to see a consultant, since opinions vary but a decision of this magnitude should not be taken based on what we say. And the folks here can recommend a good consultant.
 

planner

.............. ?
Sep 23, 2002
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Hillbilly give you some good advice! Take your time, feel things out, ask lots of questions, then take the plunge when you are ready!

There are many good opportunities here in this country and around Puerto Plata. Doing well is often about understanding the rules and the way things are actually done!

As for Americans being accepted - I"d say it is more about how you behave and treat people.
 

2dlight

Bronze
Jun 3, 2004
970
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"Have gun, will travel"

"Do I need to carry a heater or, at least, have a body guard if I run a business that takes in cash?"

It's not the Wild, Wild, West...Paladin. I would venture to guess that every business takes in cash once in a while; until they go under.
 

Chip

Platinum
Jul 25, 2007
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Santiago
Pallidin

In order to help you please answer the following:

1. Do you speak Spanish?
2. Have you lived in the DR before?
3. Have you run a similar type of business before and if so do you have a business plan?

Also, I would recommend you peruse the "Living" section fo the forums to glean insight into what one should expect about living and running a business here in the DR.
 

BushBaby

Silver
Jan 1, 2002
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www.casabush.org
Hillbilly says at least 3 months ............ I say at least SIX months!! Try working FOR someone in a similar line & see what deals, working practices, tax avoidance (dodges) they pull, who the Lawyers & Accountants are that THEY use (& how good those lawyers/accountants are!!).

After six months of 'feeling the water', you can do your business plan with much more accuracy - to do one now would be just whistling in the wind & cause total under funding &/or over optimistic projections!!

Be careful as to who you listen to & check any/ALL information gleaned from at least 4 different angles & sources that you can trust. Done right, there is a good chance of making a reasonable profit in business here, ........... but be prepared for any successes you have to be mimicked/stolen by friends & work colleagues who will doubtless want to set up in competition!! ~ Grahame
 

Criss Colon

Platinum
Jan 2, 2002
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yahoomail.com
Here Is My Advice!!!!!!!!!!!!!!!!!!!

Go away and NEVER come back!!

I have seen a lot of "First Posts" by "Newbies" like you. They can't adapt to life here. So try Mexico,or Panama!
Cris Colon
 

Chip

Platinum
Jul 25, 2007
16,772
429
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Santiago
Be careful as to who you listen to & check any/ALL information gleaned from at least 4 different angles & sources that you can trust. Done right, there is a good chance of making a reasonable profit in business here, ........... but be prepared for any successes you have to be mimicked/stolen by friends & work colleagues who will doubtless want to set up in competition!! ~ Grahame

Yes, yes and double yes. We have DR1 members that have the very same thing happen to them(even by other DR1 members). Be very careful in revealing information to the employees here - Dominicans are very savvy and more Machivellian than their Western counterpart. I don't even know if non-compete clauses are used here.
 

Hillbilly

Moderator
Jan 1, 2002
18,948
514
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A little harsh, aren't you, old friend? While you might be "sorta" right, let's give the guy a chance....

HBBBBBBBBBBBBBBBBBBBBBBBBB
 

Criss Colon

Platinum
Jan 2, 2002
21,843
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yahoomail.com
I Think I Have a Good "Gut Feeling" About His "Posting Style"!

After seeing thousands of posts on DR1 over many years,you get a "Feel" about who is sincere,and who is "Blowing Smoke"!
Posting the same "Message" on more than one forum,also shouts,..."Look At Me!"
I'll bet you a "Good Cigar",I'm right about "Palladin"! (Remember, "Have Gun Will Travel" on TV??)

"Socialist Hellhole"???????? Come on!!!!!!!!! A bit "Off the mark"?? "Mello Dramatic"?????

You'll See! Just someone looking for some attention.
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Jan 5, 2006
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Listen n00bie; unless you have lived in DR for a while and have gained a good insight into everyday life in DR and all the scams, underhanded tactics, etc. that it entails; stay away from any business venture. Otherwise, a fool and his money will soon be parted.
 

Palladin

New member
Nov 16, 2007
5
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0
The thread was posted twice , not because I'm an attention hound, but because I kept getting an error to the effect " no such thread" when trying to post it.
 

Hillbilly

Moderator
Jan 1, 2002
18,948
514
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Oh yes, I was an avid fan of Pallidin.....

One, (maybe) last piece of advice:

How do you get a small fortune in the Dominican Republic?
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You come to the country with a big fortune!!! (As Miguel would say: Wua ha ha ha

HB
 

Criss Colon

Platinum
Jan 2, 2002
21,843
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yahoomail.com
DEar "Have Gun Will Travel"

When a man with money,meets a man with experience, the man with the money gets the experience,and the man with the experience,gets the money!!!!!!!!
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naturelover

Guest
if you would like to invest in an indoor activity centre in sosua it may be a good idea for when it rains..............I still want a BOWLING ALLEY and a cinema showing alternately english/german/dutch/spanish films etc
 
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naturelover

Guest
hmmmm....
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