Financiera and casa de cambio

Taiwan · #1 12-02-2003, 09:02 PM

Can anybody tell me how much money do I need to purchase licenses for Financiera and casa de cambio, and what is the waiting period to be approved.

Taxations and other important info.

Suggestions welcome.

Hillbilly · #2 12-03-2003, 05:29 PM

You will have to go to the Secretaria de Finanzas in Santo Domingo and the Banco Central to find out all of these answers..

HB

Taiwan · #3 12-03-2003, 09:43 PM

Thank you Hillbilly

MR. Fabio J. Guzman, You are a lawyer right? Could you give me any tip on applying licenses for Financiera and casa de cambio, or maybe you could help me to obtain them before the government agencies.

Fabio J. Guzman · #4 12-08-2003, 04:57 PM

Send me an email with details of how much capital you're willing to invest, etc. to info@drlawyer.com

Barnabe · #5 12-15-2003, 05:16 AM

Legal capital requirement for casa de cambio is 2 million pesos, if you don't do money transfers (remesas). If you do remesas, it is 4 millions pesos, I think.

When you apply for a license, you must have your company already incorporated, with his adress, appropriate safety installations, etc..

Well, that is what the text say.. Now, how they are applied in practice I do not know.

Most casas de cambio I think do not have permit, nor the 2 million capital.

I have been in that business for 15 years in France. Last year I started to investigate how to set up a business In DR. I am fes up of my import business in DR, all profits stay at the muelle.. Problem: I am not willing to investigate 2000000 pesos without being sure I can operate.. Plus 2000US for incorporating..

Mr Guzman, any feedback would be welcome.

Barnabé