We have previously discussed investment opportunities, profitable businesses and the costs associated with establishing a company in the Dominican Republic. Foreign nationals interested in conducting any economic activity in the country, usually ask the same questions:
How is business conducted in the Dominican Republic?
How is a business formalized?
If that is the case, you can continue reading because in this article we will tell you how to conduct business in the Dominican Republic, while considering all the variables that come into play.
First of all, you should know that Dominicans are essentially conservative, we are averse to change, and so if you are interested in establishing any kind of partnership with a Dominican citizen, obtain credits or financing, try to present ideas that have been proven with experience. If your idea or your business is very innovative, I assure you that it will be difficult to obtain partners or solidify your business project, in order to enter the Dominican market at a business and commercial level in general.
Although our main feature is being conservative, a high proportion of our society will be friendly and will cooperate with you in all your efforts. This is especially true because you would be promoting the growth of the country and bolstering the economy, not only in the Dominican Republic but in any developing country. The economic impact of foreign investment in structure, companies, businesses and general investment is pivotal for its growth.
For the purposes described in this article, we recommend demonstrating the following:
This could be your cover letter to conduct good business and attain beneficial business relations in the country.
The Dominican Republic has a population of approximately 10 million inhabitants and is a member of the International Trade Organization, therefore it is a secure platform to conduct business, which is why we invite you to get to know the market.
As we have stated in other articles, the Dominican Republic is a country that encourages foreign investment and allows their operations with the least amount of inconveniences possible. The contributions it offers to the country are significant and as a result, the State is committed to promoting them.
To conclude, if you have considered conducting any type of business in the Dominican Republic, we encourage you to do some research. We recommend that you obtain information with the help of a law firm or a lawyer, who can advise you properly, and we assure you that your experience will be positive and (above all) profitable.
If you have any questions or need any additional information, you may contact us through the form located here and we will answer you as soon as possible.