In a previous article, we detailed the different types of Companies in the Dominican Republic. If you are interested in establishing a company and wish to know the estimated costs or budget, we will define the amount that you should have available in order to do so in the Dominican Republic.
Based on the Dominican Corporations Law 479-08, modified by Law 31-11, dated February 11, 2011, in the Dominican Republic, there are currently six (6) recognized and regulated types of corporations, these are the following: General Partnerships, Limited Partnerships, Limited Joint Stock Companies, Limited Liability Companies (LLC), Individual Limited Liability Companies (ILLC) and Public Limited Companies (PLC).
The following must be taken into account when establishing any type of Company:
It is important to note that in order to determine the costs related to establishing a company in the country, the parameter we will use is the base investment needed to create the most common type of company in the country, which is a LLC.
Process | Processing Time (days) | Cost |
Request the registration of the Trade Name in the National Office of Industrial Property (known in Spanish as ONAPI).
|
5 working days (approximately) | RD$4,755.00 |
Pay the constitution tax at the General Directorate of Internal Taxes (known in Spanish as DGII) –this tax is paid at Banco de Reservas of the Dominican Republic–.
|
1 day (simultaneous with the previous step) | 1% of the authorized capital. |
Register the company in the Commercial Registry of the Chamber of Commerce and Production. | 5 working days (approximately) | RD$2,500.00 |
Request to be registered in the National Taxpayer Registry (known in Spanish as RNC) to the Internal Tax Office (DGII) and request tax receipts. |
7 working days (approximately) | Free |
In general, the following documents will be provided to you immediately after establishing your company:
These are other documents which are often delivered only at the request of the client or at an additional cost:
Your company will be legally ready and will be able to operate in a short time in order to perform the following: