Quote:
Originally Posted by Alfredo Guzman
That requirement, or a form of it, is only applicable to partnerships (“sociedad en nombre colectivo”) and limited partnerships(“sociedadesencomandita”), which are barely used in the DR, as they lack the limited liability component found in SA's, SRL's and EIRL's.
EIRL's cannot have an individual's name, last name, nickname, or part of these, as the company's name, and by "individual" you should understand that of any physical person, including its owner's (Art. 454); SRL's are allowed to be named after one or more of its shareholders, but are not required to (Art.90).
Under the old law, C por A's and SA's were practically the same legal entity. The old law allowed founders/shareholders to chose between "S.A." or " C. por A." when forming their new per share corporations, but legally they were (are) the same. The new law now requires that the names of all corporations formed under the "Sociedad Anonima" corporate structure are followed by " Sociedad Anonima" or " S.A." (Art. 155).
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right Robert,
Sr Guzman informs us here more and better, and more UNDERSTANDABLE than the gov by far.
thank you very much for that.
i am still unsure about the point with the company's name which i highlighted in the quote above.
i am actually the owner of a S.A., named "Mike's Marina Fishing Charters S.A.", from the new offered company forms the one suitable for me would be the EIRL. but my understanding of the above would be that the EIRL form will not allow to have the company owners name in the company's name.
would i need to change my company's name on that transition or will names from existing S.A.'s stay the same when transformed into a EIRL?
the EIRL woulod be the suitable company form for me because i am the only owner, no partners, no managers aso. my tilo now shareholders are family members/paper share holders which been needed to start the S.A. some years back.
thank you very much for the great info on that important theme, aside of the fact that your info always is top and accurate and highly appreciated.
Mike
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