Starting a Business in the DR

welcome to the forum!!!!  So where do we start. As a business consultant I can tell you lots but it all depends on your situation.  Incorporate there and register here is one option but has some risks attached to it.  Incorporate here with shares owned by your company there is another option, less risk but some tax implications MAYBE.  Many companies incorporate offshore for tax planning then that company owns shares in corporation here.  Other options available as well.

As a foreigner you would want to register all investments so you can repatriate your capital at the right time with out tax issues.  There will be a host of rules regarding what you want to do.  I  will need to know a lot more about what you want to do and a public forum is GREAT for general info and not so good with specifics.  Feel free to message me privately.

Depending where you want to run your business you will need contacts!  Some things are done in the capital but others are done more location centered.   As owner you would qualify maybe for an investor residencia which is supposedly faster...... not seen that yet but there is a first time for everything.

Tell us more about your plans and ask lots of questions!

Thanks for replying to me again! I have emailed you once before also.

This is exactly the kind of info I need, and I'm so happy to have found this website. I would like to open a spa and recovery house in Santo Domingo for ladies who are recovering from surgical procedures. This could be a 3-5 bedroom (at least 2 bathroom, preferably more) house or apartment set up to cater to the ladies and provide a safe, sterile environment to recover in. They will also be provided with food, laundry service (mostly for their surgical garments), massages (not included in the price), mani pedi's (not included in price), hair styling, etc. Basically, regular spa services with an emphasis on using natural, chemical free products. Their food choices will also emphasize maximum nutritional benefits to help with the healing process.

As a woman who has considered surgery in the DR I can tell you there are NOT many good places to stay (being advertised well) and it seems that medical tourism is on the rise with no signs of slowing down.

If everything goes well in the DR, I plan to open more recovery spa's in other booming medical tourism spots as well such as Costa Rica, Puerto Rico, and Mexico. After that I would love to branch out into South America because Colombia and Argentina are seeing a lot of medical tourism as well.

Any help or advice you can give me regarding the best way to begin would be greatly appreciated. I was wondering today if I should go ahead and set up an LLC here in the states, then take the business overseas or what.

My advice would be to get some tax advice there if you plan to use that as your base of operation. IF you plan to use some other location as base then ask the questions there. 

Also do you plan to take profits back to USA or live here? Do you plan to reinvest here?  Etc etc.  that has a huge bearing on how you set up.

Some good advice from Planner. I have two questions:
1. Have  you ever been to the DR before?
2. Do you understand the pay scale here?

Bob K

Hi all,
I'm new to site. I've visited the RD numerous times over the past 2 years and look to make the move there permanently within the next year. I've spent much of my time between Santiago & Cabarete. I'm a videographer and budding photographer and plan to bring my skills and business with me to the country. I've completed a couple projects for some business owners, but would love hit the ground running when I officially make the transition.  I haven't seen much competition in the market, but have been unable to determine the actual demand for services such as mine. 
Could someone provide some insight?
Have you seen much demand for services such as mine?
What do you think would be the best way for me to meet business contacts and to market my services?

Welcome to the forum.  So tell us exactly what you do?  Who is your market?  Why do they hire you?  What do you bring to the table?  With that maybe we can give you some ideas and suggestions.

Hi Planner.  I'm a professional videographer and video editor. I create promo videos and commercials for my clients; as well as wedding videography. Some of my work has aired here on TV in the USA, but mostly has been for internet-based advertisement. My work is professional and high quality.  I hope that gives you a better idea.  Internet-base advertising doesn't seem to be as predominat in RD as it is the states which has been my primary means of advertising and gaining customers.

Ok  thanks for the info.  Yes there is likely a market for you in this country.  Most resorts should or do have videos on their websites -that is one big market for you.  wedding videos - you need to pay to be able to work on the resorts and I hear it is not cheap.  All the business then goes to the person who pays!

we are a bit behind in some ways here, but that creates opportunities!  I have a colleague who is always talking about videos he wants done.  If you can email me at [email protected] I can give you more info.

No I haven't been to DR but I have been to the carribean. I have looked at the average wages and costs of living, and I plan to get lots of help.

miss24k wrote:

No I haven't been to DR but I have been to the carribean. I have looked at the average wages and costs of living, and I plan to get lots of help.

You absolutely must get here for a visit!  Being in lots of Caribbean countries may or may not prepare you for this country.  We are different then any other I have ever visited!  Very different.  I could not have settled in any of the other places I visited, this country works for me. It may or may not work for you!

Planner is correct before you JUMP come and visit for a month and see if it fits.

Bob K

Hi,
I'm a Canadian, fluently trilingual. I've lived in Panama several years. My background is in alarm, security systems and video surveillance. I am curious to know if the expat community is well served in terms of these services. My intention is not to make millions, but to run a small company serving the area of Santiago, PP, and the coast. Any advice, insights or opinions on the matter?
I've been once to the DR a few years ago, so I have a general appreciation of the country.

cheers,

welcome to the forums! I know there are companies serving this market but I cannot comment on how good they are OR what kind of money they make. I know there is a market for more players in Santo Domingo.

WE used a company in Santiago called Alerta.  All I can say is avoid them at all costs. They truly never get it right the firs time.
There is a very good one that opened 3 years ago here in Sosua that services the Sosua/Cabarete/Puerto Plata area and does a very good job.  A second one here does ok, so not sure if room for another here on the north coast, but if you are good then I would not avoid this area if that is where you want to be. There is a large Expat community here that would use your type of service.

Bob K

I am thinking about opening a recovery house in santo domingo. I would like some advise on business laws and taxes out there. I live in the united states and will have local staff running the place with me traveling back and forth. Do I have to register the company in DR, do i have to register the business at all? And yes i will be bringing the money back to USA, do I have to declare that money in USA as income since it wasn't earned in USA?

Randomfire welcome to the forum.  These are all good questions and ones for your lawyers and accountants.
Yes you do need to register you company here and pay taxes here.  YOu will need a Cedula and an RNC number (Dominican tax number)
Yes you do need to report ALL of  your earnings and expenses to the IRS and yes you need to file and pay US taxes. There is a break on a certain amount of earnings elsewhere but it ALL must be reported.
Hope this helps.  Starting a business here is NOT easy.

Bob K