Opportunities await in the Dominican Republic? Part 2
A continuation of the series for investment business ideas that could be income makers in the Dominican Republic
Many people from time to time reach out to me with questions about employment in Dominican Republic. Foreigners would like to live on the island, but they also aren't sure how would they support themselves. With many questions surrounding the job market or opportunities to run a business in Dominican Republic. I begin with this; anyone foreigner looking to get a job in Dominican Republic from a Dominican employer you will need to have Dominican ID. You must have citizenship here, for the most part. With a decent unemployment rate there are jobs here, but the pay may not be as much as a foreigner is looking for. That's why I prefer to endorse the independent route to foreigners. With many different ideas to start your own business, you only need start up money (capital), do what interests you (motivation), and a solid plan.
The best job would be to take your job overseas with you, if your employer allows you to work from home that is. Apply for a job back in your home country and see if they have an office in Dominican Republic then set up. If the company doesn't have an office, then simply set up a good internet connection and begin. Many companies are open to the idea of employees taking the show on the road. It won't be necessary to need papers for permission to work in Dominican Republic, because you will be working for your country. As far as pay goes, because of the lower cost of living in the Dominican Republic, the average wage jobs from North America are enough to raise a small family in a middle-class area in the DR. Or, if you're a couple or single person, you can live like a King/Queen in the DR.
Teaching English is one of the most versatile employments, because you can work for a school, you can teach independently, also it can be done as a side job. Credentials are best suited to get in the schools and a further career with teaching English. Teaching English will always have a market in Dominican Republic, because jobs open up more for the local Spanish speakers when they have English as a second language on the resume. If you don't have credentials and you'll like to teach English, you can build up a cliental of students and teach as you please. Definitely it will have to be taught from someone with good English skills. With English being the clear first language. The best bet for anyone interested in this profession with credentials or not is to talk to the schools and see if there's any openings, talk with locals and put the word out that you're interested in teaching. See what comes back from there.
Renting a boat out to tourists goes perfect if you yourself are into being by the beach on a regular basis. Water sports will always be an attraction in the Dominican Republic, why not feed that tourist hunger with renting a boat. To start a boat rental business in the Dominican Republic, you'll likely need a business license, boat operator's license, insurance, permits, safety equipment, and knowledge of local regulations. The cost to rent a small boat in the Dominican Republic can vary depending on factors such as the type of boat, duration of rental, and additional services provided. On average, prices range from $50 to $200 per hour.
Subleasing an apartment is also an idea if you want to get into the real estate market but have limited funds. For those not familiar with subleasing it’s where you rent an apartment for the listed price and then you turn around and rent it to someone else for more. Typically, you want to get a good deal from the landlord, so that you can list the home at a competitive price. Also, if it's fine with the landlord that you can build an extra bedroom or two in the apartment. I’ve known people who've done this business and prospered. Hire a professional that is good with the dry wall and allow them to build the extra room, that way you can earn extra income renting a rooming home or just all together with that extra room. Of course, run it by the landlord. Some landlords generally don't care as long as they are getting their rent.
These ideas would best fit pretty much anywhere in the country, to where you see applicable. Some businesses would do better depending on the location. With a growing foreigner population, I personally feel it's a great time to be an entrepreneur in Dominican Republic.
Yes, they will have get a resident permit in order to work here.
Just curious (no plans to move to DR): do freelancers have to apply for specific permits/digital nomad visas to work there?