General act 479-08 is the Law for Commercial corporations and Individual Limited Liability Companies and its modifications. This law regulates the types and features of companies and corporations in the Dominican Republic, in addition to regulations for Simplified Public Limited Companies, which are one of the options for corporate transport in the country.
In other articles, we have elaborated on the various business organizations, with the line of corporate types and which type of company should be constituted in each case, for example:
Types of business organizations and corporations available in the Dominican Republic
Which business organization type should you establish in the Dominican Republic
For you to decide which type of business organization you should establish or determine which option fits your needs, we suggest the following:
By asking the aforementioned questions, you can easily identify the type of organization that best suits your needs.
The most common type of corporations in the Dominican Republic are Limited Liability Companies (LLC). Its ubiquity is a result of its benefits and simplicity. However, this will not always be the option that fits your:
As stated previously, the purpose of this article is to help those interested in ensuring that a Simplified Public Limited Company would be the type of organization that fits their needs, specifying its characteristics, requirements and providing further details.
We always advise our clients that Simplified Limited Companies are technically hybrids of Limited Liability Companies and Public Limited Companies. They are more systematic than LLCs and seem more abstract than a Public Limited Company. In a different article, we will elaborate on its requirements and when a Public Limited Company is your only option as a corporate vehicle in the Dominican Republic.
This type of organization is very different than how it was when it emerged in France. We will explain how it remains under the guidelines and creation of our legislation, even if it came from that initial basis; focusing on more practical issues instead of providing more information about its conception. Why consider a Simplified Public Limited Company?
Explanatory note: Its social regulations will freely determine the structure and operation of these corporations. That same law establishes certain mandatory rules consisting of:
To conclude and address the title of this article, why constitute a Simplified Public Limited Company in the Dominican Republic? To summarize:
In our Morillo Suriel Attorneys at Law firm, we have a division specialized in Corporate and Business Law in the Dominican Republic. Through that division, we can assist you with any inquiry you might have in the matter.
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