Overview of Dominican Corporations

[Adam Spenser]

Robert raised 3 points in his posts, which were not answered by Fabio Guzman.
1. To continue a Societe Anonimas do we have to increase the capital of the corporation to 30 million pesos?
2. Do we have to deposit the 30 million pesos in a bank?
3. If a new SRL, LLC or EIRL is formed do the shareholders wil have personal liability, which they do not have with an S.A.?
I would appreciate Mr. Guzman answering these questions.

Adam

[rubio_higuey]

Originally Posted by Adam Spenser

1. To continue a Societe Anonimas do we have to increase the capital of the corporation to 30 million pesos?

You have to increase AUTHORIZED capital to 30 million pesos and paid-up capital to 10% of that, 3 million pesos. You pay 1% tax to DGII on the AUTHORIZED capital.

And you have to do it before June 11, 2009 if you want to operate as SA

Originally Posted by Adam Spenser

2. Do we have to deposit the 30 million pesos in a bank?

Not sure on whether the paid-up capital has to be deposited somewhere.

Originally Posted by Adam Spenser

3. If a new SRL or EIRL is formed do the shareholders wil have personal liability, which they do not have with an S.A.?

No, if they use "SRL" or "EIRL" along with the company name on business stuff (invoices, letterheads, etc.)

[retiree]

As asked in post #39 - I am also interested in

1. the time limit for changing from S.A. to another form of company and

2. what is the status of a company after that date if the conversion is not complete.

[drevo32]

Originally Posted by retiree

As asked in post #39 - I am also interested in

1. the time limit for changing from S.A. to another form of company and

2. what is the status of a company after that date if the conversion is not complete.

I also would like to know this