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Thread: Creating an import-business?

  1. #1
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    Default Creating an import-business?

    Hello,

    I would like to import and sell a certain product which I would buy in China.
    How hard is it to start such a business in the DR? I lived one year in the DR but didn't have my own business.
    I already found quite a lot information on the web, but reading the posts in the forum it sounds like it's is nearly impossible to start a business due to all the corruption or even Mafia-like organizations.
    Is it like this with nearly all kind of products?
    How does it work to establish a Company as it is described here: Business and Companies in Dominican Republic (Type 4, The Individually Owned Company with Limited Liability)? Is it as easy as following these steps here: Starting a Business in Dominican Republic - Doing Business - World Bank Group ??

    Thanks!

  2. #2
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    Where do you want to distribute your product? Wholesale, retail door to door? If you are a gringo starting a business in a tourist area would probably be easier. ALSO, GET A LAWTER.............

  3. #3
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    Here is one little piece of advise:
    Don't tell anybody what you are trying to do! That way nobody can put up obstacles in an early stage...

  4. #4
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    Thanks for the replies.

    I plan to sell the product in wholesale as well as retail.
    mido, you say I should tell people before. I didnt plan to do so, but at some point I have to and I thought about going to shops and presenting them samples before setting up a company and importing a whole container without knowing if the would buy it (although im pretty sure). So you recommend rather doing it the other way round?
    Well, at least I have to tell what kind of company I plan to establish and so on, but I guess you don't mean that? Because I think doing as it is described here (http://dr1.com/business/business/starting.shtml): Starting doing the business informally and if it runs, incorporate would work since I need to have a business to import something. Or is it possible to do so without??

  5. #5
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    Why would you tell people your business plan while your enterprise is in the incubation stage?
    Re-read Mido's post fella!

  6. #6
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    Quote Originally Posted by Tamborista View Post
    Why would you tell people your business plan while your enterprise is in the incubation stage?
    Re-read Mido's post fella!
    Either you haven't read my post, so please re-read it, or I don't understand what you want to tell me, so please explain. Thanks.

  7. #7
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    DR1 has a number of people on it who seem to enjoy being unhappy, and making others feel the same. They were dissatisfied with their lives back home, and discovered it didn't get any better when they moved to a third world country.

    Or, they wanted the illusion of "unlimited freedom" (usually meaning abundant and willing sex partners less than half their age), and get frustrated with the extreme unemployment, poor infrastructure and issues related to deep poverty. It's most interesting to watch them complain apparently unaware the former is directly and inextricably related to the latter. After all, if he/she can make Toronto money working as an engineer, he/she probably won't be "in love" with some 70 year old who looks like they're about to give birth to a Buick.

    Tambo's point, I think, is to tread lightly. Lots of people with big plans wind up going broke here very, very quickly. It's not about other people "stealing" your idea. That really doesn't happen very often, especially with something that's labor or bureaucracy-addled (such as an importing business with a storefront). The main concern is people putting obstacles (i.e. hands out) that impede your progress and reduce your funds. That happens a lot, especially when expats deal with the (unfortunately abundant) shadier expats out there.

    If you're interested in an import business, why not do something online where you can fully understand the rules, deal in first-world currencies, and do lots of drop-shipping (minimizing your overhead)?

    Here's the key: if you have sufficient capital, key Dominican contacts and work experience (in DR) that you don't have to ask for help on a general board, then you MAY be ready. Otherwise, your chances are not as good as you'd probably like them to be.

  8. Likes windeguy, mido liked this post
  9. #8
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    "they wanted the illusion of "unlimited freedom" (usually meaning abundant and willing sex partners less than half their age)"

    ....this is no illusion I assure you....

  10. #9
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    Quote Originally Posted by DRob View Post
    ...some 70 year old who looks like they're about to give birth to a Buick.
    If I weren't so damn close to 70, I'd call that one of the finer phrases I've read on here in a good long time...

  11. Likes DRob liked this post

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