Hello all,
Newbie here who has been looking online for some information about the possibility of opening a business in the Dominican Republic and have decided it is probably more informative to ask those who already live there rather than random internet sites. Does anyone have any info or tips on where I can find the latest information regarding the process/rules/costs, etc. to hopefully do this there? I am 63 but way to hyper to settle down and relax (well, TOO much anyway) and my wife loves warm weather, the Caribbean and much more and so what better plan than to try to accomplish this dream while we can? I have been looking at some other areas of the Caribbean but have come to the conclusion that the D.R. might just be the best place possible for what I want to do and I hope that others here can help with this in regards to information and any other help/tips anyone is kind enough to share :-) The MAIN thing we need to find out is of course the possibility of being able to open our own business there and what that would entail. Any thoughts/information/places to find information anyone can recommend?
Thanks and hoping we can join you on that beautiful Caribbean Island in the sun :-)
Can a Canadian expat open a business in the Dominican Republic?
Welcome to the forums!
The short answer is yes you can own a business here. The incorporation process is a bit complicated and no you can't do it yourself.
Owning your business and running it are 2 different things. You will need residencia to work here even if it is your own business.
I will send you a private message regarding this.
You will also want to think through what kind of business! A visit should be in your future!
A lawyer can assist you with the process to register a business. What would the business do? Some businesses require a license to provide certain service for example in tourism. Accounting services are also available to file any required tax forms in a timely fashion.
Hola!
Planner can you send me the same information in a PM? I have ideas but want to protect myself
Yes, you can open a business here again depends upon what type. Yes, you can do it yourself without a lawyer. I did, although I worked with my team that included Dominicans as my spanish is not very good. Yes, it is extremely complicated and took over 1 year of many documentation requirements and a lot of travel. No I was not a resident when I completed the process and I am the President of the Association. No, I was never asked to become a resident to complete the process. Yes it was stamped through several channels of Government. Yes I received my RNC number and registration. My recommendation for most would be to use a lawyer. It would probably be easier but then you lose control of the process in terms of timing and priority. We also wanted to experience the process ourselves. My business is an Association so meetings, signatures a Board of Director's are just a small part of the necessary requirements.
Message sent!
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