- Thread starter FF1
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Opening a car dealership. Requirements?
Out of curiosity, did you know there is a car dealer here on virtually every street corner and 3 in between? Not counting the thousands of people who make a living by importing one car at a time?
Well with that mindset nobody would be starting any new businesses anymore because there is everything on virtually every street corner.
Maybe that is why 8 out of 10 new business's go belly up..............
I can think of a dozen good businesses here, but selling cars ain't one of them.
I'd like to get the license so I get a break on the import taxes which from what I could gather online are 38%. Then import a few high end luxury cars which I would use myself but also put them up for sale and if one gets sold I import another one.
I can't think of one good business that would make enough money to make it worthwhile dealing with Dominican employees on daily basis and the stress it would bring 😁
What nobody mentioned: Car Dealer's (most of them) are highly involved in money laundering. The Import and sell cars on a base of cost + zero profit.
This is your Competition ! Still think about open another one ?
I represent a number of car dealers/importers in the DR..................and if the above is your busines model..............I wish you good luck.............because you are going to need it.
Respectfully,
Playacaribe2
Could you please let me know the requirements and what is the process to obtain the license?
PS. Maybe I didn't explain myself correctly, selling the car to make money is not my primary concern, altough it'd be nice. I'd be happy to import say new Benz GLE 63 Coupe or G500, enjoy it a year and then even if I sold it for the same money I spent on it I'd be happy.
I do not know all the requirements as I represent them but am not a car dealer. I suggest you engage the services of an attorney.
That having been said, you will need a corporation, dealer licenses, RNC number, location, connections with Aduana etc., etc., etc. The process is long............and many have come here with the same idea as you. Without the necessary connections, and sometimes even with them, the process can be overwhelming. Without close contacts, yours is not a business model that would work well here.
Good luck though.
Respectfully,
Playacaribe2
In that case, you are a private seller... as has been said, many do it.
Import - have a bit of fun with it... sell it and start again
There is a 3yr (?) rule on selling a car if you bring it in on residency..... otherwise, not sure
Good idea you have - no license needed IMO
Good, because with all the requirements and expenses, you surely will not make money.
Your ancillary costs to import one car a year will surpass any savings you think you will have..........and will likely even be more costly. The tax savings by virtue of being a dealer is not enough to surpass your other costs..............on one off operations.
Again, good luck.
Respectfully,
Playacaribe2
Thats for sure
There are quite a lot in SD at the Malecon (SD) that might do this. Just ask. Almost all of there US Counterparts are located in or arround Miami, so you need the car to get to miami. Finally you start to make sense ! I was already getting a cow for you when i heard that you have your coffee with milk.
I am sure there are some...........but unless you have a special relationship with that dealer (friend/family etc.) most will tell you no. And be wary of the ones who say yes......no problem.............they are likely one of the reasons car dealers have a bad reputation..........and you are likely to have all sorts of problems getting that vehicle into your name.
Things do not work here like you may be used to in other countries.
Respectfully,
Playacaribe2
Compañía de carpeta removes most (if not sll) legsl obstacles to starting a business. Plus, you buy one today and within 48 business hours or less you can start selling all fully legal. Last time I checked, the cost of one was around US$2,000. Could be more now since everything has gone up. Many attorney offices sell them. Arrive today in SD, but one tomorrow, by the end of the week or less you are in business.
Just be aware many of these Compañías de carpeta have funny and somewhat generic names. If you want a name change, it will take longer for when you can start selling.
Just be aware many of these Compañías de carpeta have funny and somewhat generic names. If you want a name change, it will take longer for when you can start selling.