Questions for Dr Guzman!

[mark4604]

This question is for Dr. Fabio Guzman, I am planning on opening a new restaurant in Santiago in the near future but I have some questions. I have conducted a fair amount of research about my new venture as well as a large amount of travel to Santiago during the past two years, so I believe I have a good feel for the market. Obviously one can always learn more but that comes with time and experience. I have posted some simple questions in this forum but always with a negative response from the Americans that reside in the Dominican Republic. They claim that it’s extremely hard to get a business of the ground in the Dominican Republic and the laws there are not good to foreign investors. If it is very difficult could you explain why? My restaurant will require only a few employees so initial capital investment will not be a financial disaster. Is it really that hard to start a business in the Dominican Republic? And if possible could you draw me a timeline between permits, redtape and actual operation?

[amparocorp]

sorry, i am not Dr Guzman, but, after reading about all your negative responses i have different opinion and experience to share. several years back i bought a printing press and large paper cutter. found a storefront the next day, paid the rent, ran an extension chord from a neighbor for power and i was in business....................i think business is much easier to accomplish in the DR, as opposed to the states, less red tape. the only thing to warn you about is that you have to be there to monitor the money, watch the cash register like a hawk. good luck.............

[leekiv]

amparocorp.............Not to sound 'negative' but I truly understand where the OP is coming from. There are many on this site that can offer sound advice without being cruel in their responses. amparocorp is one of them. WTG. I am sure that Dr Guzman will respond when he is on, but in the meantime I am sure that many will post with other good points. Good luck to you in your venture.

[Robert]

Originally Posted by amparocorp

several years back....

Many things have changed in the past several years.
A lot has changed in the past 12 months!

Running an illegal business is no longer very easy, especially a business like a restaurant that is out in the open.

If your serious about going into business here, then you need to surround yourself with serious people that know how the DR works.

You have done the first step, you found DR1 which will be an invaluable resource to you. The next step is to speak to someone like Hillbilly that lives and breathes Santiago, then if all goes well move onto retaining a good lawyer, with Fabio you are on the right track.

Yes, you will encounter some red tape, but it's the same in most countries.
A good lawyer will walk you though the process and help you avoid the pitfalls.

Come back and let us know how you got on.