You would need a cedula to technically “work in it” and be registered in the TSS. You can work with your business in the DR as the shareholder without having residency.it’s legal to own business as foreigner you just can’t work in it…🍿
- Thread starter ohmmmm
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Best Business in the DR
If you think that is hilarious ( and I do ) try ordering a sandwich at Panmigo in Sosua
Exactly what I did years ago with Guzman. Paid all appropriate taxes every year. And then legally sold it ( the corporation and thus the property ) years before I got residency. And so I guess I did this all as an "illegal alien".
I was planning on starting an installation of renewable energy biz in a 3rd world country years ago. This was related to contruction type work. The big risk was getting paid.
I decided the only safe move was to get a dealership for something, cars, appliances etc. The customers don't get the keys until the check clears the bank.
And you can hire locals to do the selling while you find more exclusive distributorships.
I decided the only safe move was to get a dealership for something, cars, appliances etc. The customers don't get the keys until the check clears the bank.
And you can hire locals to do the selling while you find more exclusive distributorships.
That type of corporation was a tax dodge that no longer works as well as it used to. It is not the same as a business where an illegal alien is working with other employees. As you pointed it , the corporation for buying (and selling) a house was solely created for the purpose of the transaction.
If you work here, you have to have residency for that to be legal. Your example is not one of someone working here.
If they own the house, regardless to it being in a corporation. and overstay their tourist card while living in it, they are indeed illegal aliens.
That hat is what fits them.
Try again.
You were not working in that "corporation". It was set up as a tax and liability dodge that doesn't work as well as that scam used to.
If you ever overstayed a tourist card, you were an illegal alien regardless of where you lived and whatever else you did while here in the DR.
Now back to the bad idea of how to set up the so-called "best business" in the DR.
Did you actually start, run and continue to have such a business and is it profitable?
For this last option you have to scroll down until you see "English."
I have run businesses successfully in DR for a number of years, but admittedly I ran businesses in other countries before coming here. And I would say it's much harder in DR than anywhere else I have worked, to make a profit you have to get a lot of planets to align. Everyone I know here who runs a successful business is a very shrewd businessperson, the sort of person who really would make money anywhere on the planet. It's not for the feint-hearted.
And I daresay is HANDS-ON, EVERY DAY. Not hiring someone else to run things day to day.
That’s true. I made that mistake for a while and tried to delegate and lost a bit of control. The part of the business that went ok the real estate brokerage my partner has continued successfully and that’s also what she was interested in.
Yes and no. Some people also say if you can drive in the DR you can drive anywhere. But if you drive like in the DR in some other places it will get you into a lot of trouble.
Thanks for those pointing out how difficult it is to run a business in the DR versus other places they have been.
Why would anyone want to make their chances of success so much more difficult?
By the way, while driving in the DR is definitely different and I did it since day one, I have been to other places where I would never be able to drive.
To those thinking they have the next big business in the DR, the chances are very slim you do.
Why would anyone want to make their chances of success so much more difficult?
By the way, while driving in the DR is definitely different and I did it since day one, I have been to other places where I would never be able to drive.
To those thinking they have the next big business in the DR, the chances are very slim you do.
This is what is called a serial entrepreneur from Santo Domingo. Quite impressive considering his father was the first one to go into a business for himself starting in the late 1990's when he was in his 60's (was partial owner of another business since the 1960's, though nothing major). He was a Spanish immigrant to the DR in 1955 and had only a 3rd grade education. The reason he started the business in 1998 was due to his plan of retiring, went to Spain and noticed he didn't have enough capital for retirement. He went back to DR and basically started another business and died working there.
His son, who is the one interviewed, Juan Carlos Pais is the franchisee of Swarovsky, Pandora, Bilabon, and Starbucks in the DR; plus Pandora in El Salvador, Honduras, and Ecuador. Also other businesses in the DR which he also explains. All started relatively recently (within the last 10 - 30 years). He had entered other countries such as Mexico and Nicaragua, but he explains he was intentionally kicked out of Mexico by his business partner and the Nicaraguan government forced him out due to its import duties regime.
Though in Spanish, this one too has the ability to activate the CC in English.
PS. Don't be fooled by his looks. He was born in 1980. Looks much younger.
His son, who is the one interviewed, Juan Carlos Pais is the franchisee of Swarovsky, Pandora, Bilabon, and Starbucks in the DR; plus Pandora in El Salvador, Honduras, and Ecuador. Also other businesses in the DR which he also explains. All started relatively recently (within the last 10 - 30 years). He had entered other countries such as Mexico and Nicaragua, but he explains he was intentionally kicked out of Mexico by his business partner and the Nicaraguan government forced him out due to its import duties regime.
Though in Spanish, this one too has the ability to activate the CC in English.
PS. Don't be fooled by his looks. He was born in 1980. Looks much younger.
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Interview to Dominican-American entrepreneur Raúl Hoyo, the founder of Altio Safi (DR) and Altio Capital (United States). He was born and raised in Santo Domingo from a father of Cuban origin and an American mother. He and his wife (also Dominican) lived in the USA for a few years (mostly in Miami, Fl) and when it came time to start a family they decided to return to Santo Domingo.
Altio Safi is the largest venture capitalist firm in the Dominican Republic, currently managing over US$500 million. All the companies where they invest are based in the DR and their investments are exclusively in the DR too.
Altio Capital is the first Dominican venture capitalist firm created in the United Statea and currently manages over US$4 billion. Due to Dominican regulations, Altio Safi operates in the DR only while Altio Capital in the rest of the world. Otherwise it would all be Altio Safi from Santo Domingo.
See post 128 for procedure how to activate CC in English.
This is a very long video, but starting:
1:00:53 - The founding of Altio Safi and Altio Capital.
1:26:45 -The change of international investors towards investing in Dominican venture capitalist firms.
1:27:09 - The talent that exist in the DR.
1:33:34 - The desire for Dominicans living outside the DR to return to live in the country.
1:33:55 - The DR compared to other countries in Latin America.
1:37:18 - What is needed to start a venture capitalist firm in the DR?
Altio Safi
Altio Capital
Altio Safi is the largest venture capitalist firm in the Dominican Republic, currently managing over US$500 million. All the companies where they invest are based in the DR and their investments are exclusively in the DR too.
Altio Capital is the first Dominican venture capitalist firm created in the United Statea and currently manages over US$4 billion. Due to Dominican regulations, Altio Safi operates in the DR only while Altio Capital in the rest of the world. Otherwise it would all be Altio Safi from Santo Domingo.
See post 128 for procedure how to activate CC in English.
This is a very long video, but starting:
1:00:53 - The founding of Altio Safi and Altio Capital.
1:26:45 -The change of international investors towards investing in Dominican venture capitalist firms.
1:27:09 - The talent that exist in the DR.
1:33:34 - The desire for Dominicans living outside the DR to return to live in the country.
1:33:55 - The DR compared to other countries in Latin America.
1:37:18 - What is needed to start a venture capitalist firm in the DR?
Altio Safi
Altio Capital
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Public trash cans, have you seen any of them?
If you can make a deal with the neighbourhood or the city of putting them up and maintaince.
It is not a lot of money each but the money is coming every month
Refrigerator repair. It's so so common for the aluminum to copper connections to fail.
Show up pick up in your pickup, repair and return the next day - 5000 pesos, do 2-4 per day
Show up pick up in your pickup, repair and return the next day - 5000 pesos, do 2-4 per day
Founder and creater of Hair Plus Marielis Ramos (nothing to do with the Ramos of Sirena, Sirena Market, Aprezio, etc), a Dominican hair line (shampoo, conditioner, etc) that helps the hair to grow.
She started this business less than 10 years ago after she was in a very serious accident in the Cabarete area. Afterwards, many things happen to her as a consequence of the accident including she couldn’t walk and her hair began to fall out. It was a very personal non-commercial home made hair products for her own use and noticed people would increasingly try them and ask her for more. She didn’t looked at it as a money making opportunity until well after.
Hair Plus is based in La Vega and is not just on sale in the DR (Sirena, Sambil, Galería 360 and other places), but also in many countries such as the USA, Spain, Puerto Rico, Mexico, Colombia, etc. The products have been a success from the start and all their products are made in their factory in La Vega.
She started this business less than 10 years ago after she was in a very serious accident in the Cabarete area. Afterwards, many things happen to her as a consequence of the accident including she couldn’t walk and her hair began to fall out. It was a very personal non-commercial home made hair products for her own use and noticed people would increasingly try them and ask her for more. She didn’t looked at it as a money making opportunity until well after.
Hair Plus is based in La Vega and is not just on sale in the DR (Sirena, Sambil, Galería 360 and other places), but also in many countries such as the USA, Spain, Puerto Rico, Mexico, Colombia, etc. The products have been a success from the start and all their products are made in their factory in La Vega.
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