Punta Cana - Bavaro Real Estate, Vacation Rentals & Property Management
Setting Up A Dominican Corporation
There are different types of corporations in D.R. but the one that we mostly recommend is the S.R.L. which is what you know as L.L.C. The advantage of this company, different than a S.A. (Anonymous Society), is that the capital shown in the bylaws is not a capital that you necessarily need to freeze or show in a bank account, this is a nominate value. The other advantage is that it can be a minimum of 2 shareholders, so it can perfectly be you two the owners and shareholders. We also recommend to start the company with a social capital of RD$ 100,000.00 in case you want to increase the capital even for nominate numbers or adding a god to it, you can do it anytime.
The requests and documents needed to open a Dominican Corporation include:
- Commercial Name. (You need to provide a commercial name you have in mind to register it. Please have 2 more names as back up because sometimes the name is already been used, or is very similar to another already in use, so in that case the Intellectual Rights Department may decline the petition of that commercial name)
- Social Object. (The activities or activities the company will execute.)
- Social Domicile. (The address where the company will be addressed)
- Shareholders amount and shares distribution. (How many shareholders there will be and the percentage of the distribution of this shares)
- Copy of the shareholders passports. (In the future when you obtain your Dominican Cedula Number (I.D. card) we can add this Cedula ID information to your company records.)
If you are not here in the country at the time you decide, or is convenient to start the corporation constitution now, It is possible for the Attorney to initiate or redact the corporation documents and bylaws, and then send them to you via mail. Once received you can sign them and send them back to the Attorney via courier so, he/ she can continue to move forward with the procedure with no delays.
1. Approximately how long does this whole procedure take? Corporation takes about a month.
2. Ballpark figure as to how much it will cost? Corporation costs approximately US$ 1,350.00, all expenses included
For our English and Spanish speaking attorney referrals, please contact us. email@example.com // Office: 1-809-552-0898 (Mon. - Fri. 9 am to 5 pm // Sat. 9 am - 1:30 pm).