Setting up as a Sole Proprietor

[lacyla123]

May I ask the process of setting up business as a sole proprietor here in the DR?
I'm wanting to open a small local premises with just myself working and therefore no employees.
Is there lots of bureaucracy?.. and anyone any helpful advice on this?
Thanks

 

[lacyla123]

Edit: I know that you have to register locally and pay a small fee, but I'm more interested in the process of paying tax and if there are anything's to watch out for etc..

 

[johne]

Guzman Ariza has a very informative book on line for free with your email address. Might answer a lot of your questions in a professional manner.

 

[drstock]

Most sole proprietors here just start the business and worry about any bureaucracy later. There are very few restrictions. If you have no employees it's even easier.

 

[JD Jones]

Most sole proprietors here just start the business and worry about any bureaucracy later. There are very few restrictions. If you have no employees it's even easier.

^This^ The informal market in the DR is absolutely huge.

 

[lacyla123]

Most sole proprietors here just start the business and worry about any bureaucracy later. There are very few restrictions. If you have no employees it's even easier.

Ah ok I understand. So perhaps it's best to start the business, see how things go and then do the registering etc later? I just wondered if having a local shop, it would be questioned as to whether I have 'officially' registered. Thanks, fellow brit here too.

 

[lacyla123]

^This^ The informal market in the DR is absolutely huge.

Ah ok thank you I understand. Maybe that's best initially to test the waters

 

[JD Jones]

Ah ok I understand. So perhaps it's best to start the business, see how things go and then do the registering etc later? I just wondered if having a local shop, it would be questioned as to whether I have 'officially' registered. Thanks, fellow brit here too.

Yes. Cross those bridges when you come to them.

 

[lacyla123]

Yes. Cross those bridges when you come to them.

Thank you

 

[Drperson]

May I ask the process of setting up business as a sole proprietor here in the DR?
I'm wanting to open a small local premises with just myself working and therefore no employees.
Is there lots of bureaucracy?.. and anyone any helpful advice on this?
Thanks

maybe you should give some sort of idea what type of business you want to open It is relevant for taxes

 

[Tamborista]

maybe you should give some sort of idea what type of business you want to open It is relevant for taxes

Perhaps the OP chooses not to share a novel business idea with their closest 76,910 friends on DR1?

 

[drstock]

Ah ok I understand. So perhaps it's best to start the business, see how things go and then do the registering etc later? I just wondered if having a local shop, it would be questioned as to whether I have 'officially' registered. Thanks, fellow brit here too.

It might be questioned, then you just say you didn't know it was necessary and register it. However, just to cover myself, I don't know where in the country you are, so I am only talking about my experience where I and others I know live.

 

[lacyla123]

maybe you should give some sort of idea what type of business you want to open It is relevant for taxes

Beauty services business, which I believe isn't subject to the sales tax which helps

 

[Tamborista]

Beauty services business, which I believe isn't subject to the sales tax which helps

There is definitely a shortage of salons, here is a layup, import hair extensions wholesale, thank me later!

 

[lacyla123]

There is definitely a shortage of salons, here is a layup, import hair extensions wholesale, thank me later!

Lived in the DR for 3 years so I know it's saturated, but yes extensions is in the plan. I'm a Blonding and Colour specialist. Thanks for the advice

 

[Drperson]

There is definitely a shortage of salons, here is a layup, import hair extensions wholesale, thank me later!

Beauty services business, which I believe isn't subject to the sales tax which helps

this is correct more or less

 

[lacyla123]

this is correct more or less

Ok thank you

 

[JD Jones]

Lived in the DR for 3 years so I know it's saturated, but yes extensions is in the plan. I'm a Blonding and Colour specialist. Thanks for the advice

I wish you luck. That market is brutal.