Overview of Dominican Corporations

Robert · #1 08-03-2006, 01:16 PM

An excellent overview in English supplied by Fabio Guzman.

* Word document: http://dr1.com/legal/business/Dom_Corps.doc

* PDF document: http://dr1.com/legal/business/Dom_Corps.pdf

Guzman Ariza & Asociados - http://drlawyer.com

priji · #2 11-28-2007, 01:17 AM

As we have mentioned in other articles, the Dominican Republic is probably one of the last places people think of when exploring a list of tax-haven countries. Certainly, It cannot be mentioned in the same vein as a traditional tax haven like Panama, Belize, The Isle of Man or any number of other well-known jurisdictions. However, as part of an overall strategy, owning your real estate or investment accounts through your Dominican company makes perfect sense. Of course I only referring to investments or property purchases that are physically done in the Dominican Republic

Seachange · #3 05-16-2008, 10:22 PM

The overview may be out dated. There are some new changes which recently when into effect such as a lower number of shareholders now required. My understanding is that the new law is intended to make forming a Dominican Corporation easier.

cobraboy · #4 05-17-2008, 08:46 AM

Quote:

Originally Posted by Seachange

The overview may be out dated. There are some new changes which recently when into effect such as a lower number of shareholders now required. My understanding is that the new law is intended to make forming a Dominican Corporation easier.

Is this law in effect now? As of when? I thought they were proposals and not yet enacted.

planner · #5 05-17-2008, 10:00 AM

That law is not passed yet.

Fabio J. Guzman · #6 05-19-2008, 04:39 PM

The overview is not outdated. The new company bill has not passed the Chamber of Deputies yet.

slug · #7 06-26-2008, 03:36 PM

What is the difference between an SA and a CXA corp?

Fabio J. Guzman · #8 07-01-2008, 05:34 PM

None whatsoever. Just the name.

Sanson · #9 01-22-2009, 07:52 PM

Hello.
I have just read the new Commercial societies law, Ley 479-08, and according to it, all Sociedades Anonimas, must have a minimum of 30 million pesos of authorized capital. Considering that the majority of the Dominican companies do not meet this rule, and the law says that everyone has to comply the law in 180days, what are the possible changes for an S.A. comply with the law? I understand that increasing the capital to 30 millions is an option, however I think that a great number of companies will not be capable of doing it.

MikeFisher · #10 01-23-2009, 07:16 PM

good question.
waiting for the answer myself.
Mike