The Dominican Republic is a country committed to encouraging and promoting business growth. Laws and institutions provide interested parties the tools needed to make their businesses profitable, formal and organized.

This is the case with law No. 479-08 on Dominican Corporations, which started the novel and useful Limited Liability Companies (LLC).

Features of LLCs

1. Its constitution is not very costly.
2. Simple requirements.
3. Short waiting times for establishment and operations.
4. It is formal in nature for any type of transaction; with it you would be able to:

Benefits of creating an LLC in Dominican Republic

• Buy nationally and internationally as a company.
• Sell nationally and internationally.
• Open bank accounts of any type and currency.
• Establish any business purpose.
• Request financing and credits in financial institutions and businesses.
• Sell to the State.
• Hiring employees through the company, not in a personal capacity; with the latter, you would commit your assets, whereas through the company, you would not have that liability.
• Being considered as a company that has its own duties; in other words, a company responsible for their transactions, since it has a legal identity.

Requirements to establish an LLC

1. Trade Name: Requested through the National Intellectual Property Office . The requirements for this request are:

• Specify one to three names (due to availability).
• Object of the name.
• Identity document of the trade name holder.
• Address of the holder.

2. Capital Taxes of the company: Paid to the General Directorate of Internal Taxes, where you would need to establish the capital limit of the company. This cannot be the following:

• Less than RD$100,000.00
• More than RD$30,000,000.00

3. Drafting and signing of all the articles of incorporation of the company:

• Minutes of Constitutive Assembly.
• List of Constitutive Assembly.
• Bylaws; these regulations must specify the following:
  • The corporate purpose.
  • The partners; this company can have at least two (2) members and a maximum of fifty (50). The partners can be foreign or local companies.
  • The percentage of shares each of the partners will have. This distribution has no limitation, e.g., a partner may have 1% and another partner may have 99% of the shares.
  • Company address.
  • Identity documents of each of the partners and managers.
  • Manager of the company; it may be only one or several, and they can partners of the company or otherwise.

• Subscriber list.

LLC Documentation

After having this documentation in order, it is submitted to the Chamber of Commerce and Production. They have several offices, in the National District as well as other regions. The corresponding chamber is determined by the address that the company will have.

1. After the deposit is made, you will have a Commercial Registry Certificate issued by the Chamber of Commerce within five (5) days.

2. With this registration, and a copy of the constituent documents, you can request the National Taxpayer Registry (known in Spanish as RNC) through the General Directorate of Internal Taxes. The response time for these requests is fifteen (15) working days, after which the RNC Number and Certificate would be issued.

You can also opt for the one-stop-shop, where you can conduct all the aforementioned transactions quicker and through the use of a single form.

By completing these steps, you will be able to establish your Limited Liability Company (LLC), which will be legally authorized for any business transaction in the Dominican Republic.

You can complete and comply with all these steps; however, it is important to remember that this is a long and repetitive process, and mistakes made during application and deposit will increase waiting times and expenses. We suggest you hire a law firm to assist you, so that all you have to do is sign and receive your company ready to operate.

Cost to establish an LLC in the Dominican Republic

The general cost may vary, given that the constitution taxes are subject to the capital that was subscribed and paid by the company.

• The Trade Name certificate has a cost of RD$4,755 or US$101.17 (as of the current dollar rate).
• The constitution tax amount is determined based on the capital amount.
• The Chamber of Commerce rate varies by capital.
• Professional fees vary according to the procedures that will be needed.

Possible activities

Our Morillo Suriel law firm, can oversee the establishment process of your company, without having to physically come to us. We would send you all the documentation that requires a signature to your home.

Also, we offer a help service to open bank accounts, in the currencies you wish.

You may also establish a company, even as a foreign national who does not have Dominican residence. Your passport can be used to establish companies in the country and also be a signatory for business bank accounts.

If you are interested in obtaining more information about this and other types of companies we have in the Dominican Republic, you can complete our contact form and in 10 to 15 minutes, one of our lawyers specialized in the field will contact you, to address any concerns you may have.

Frequently Asked Questions about LLCs

Some of the most common questions asked by our clients are:

• I am a foreign national who has never entered your country. How can I establish a company?

You are eligible to do so if you have a valid passport.

• I do not have an address in the Dominican Republic, how can this company be established?

We can provide it to you.

• Do I have to travel to the Dominican Republic to establish a company?

You do not. We can complete the process for you without you being present.

• Can the process for the company’s bank account be initiated without being in the Dominican Republic?

That’s right, we start this process with solid banking institutions in the country.

There are many other questions on which we can advise you, you would only need to contact us so we can assist. We will respond promptly.