Ownership of a Dominican Corporation

[cobraboy]

I understand that a Dominican Corporation requires 7 shareholders, some of whom may be non-resident persons.

But can a Dominican Corporation have a majority owner that is a foreign (U.S.) corporate entity (i.e. Sub S or C, LLC, Limited Partnership, etc.)?

[David34]

I have another question to add to that. Can a U.S. citizen be a majority shareholder in a domincan corporation?

[planner]

Yes and Yes.

[David34]

Wondering if someone can answer this question. I need to bring one of my vice presidents here to the U.S. to sign some banking documents to open a new account, what would be the easiest way bring her over here for this?

[HOWMAR]

Originally Posted by David34

Wondering if someone can answer this question. I need to bring one of my vice presidents here to the U.S. to sign some banking documents to open a new account, what would be the easiest way bring her over here for this?

Can't the documents be sent to the DR and have her sign in front of a Notary at the Consulate?
Information on Notarial Services

[David34]

Thanks. I'll check with the bank to see if this is acceptable to them. Also, this would be her first trip to the U.S., she is about 60 years old, so I wanted to introduce her to the States and the Bankers as well. I wanted to pretty much kill two birds with one stone.

Any advice?

[CFA123]

In the past, I've written letters on U.S. corporate letterhead requesting DR employees be allowed to travel to U.S. for legitimate business reasons including cross-training, specialized training courses, etc. The employee would take this letter to the consulate with them.
I think perhaps our Dominican company must have had some pull at the Consulate as it was possible to get these approved rather quickly. I don't recall any requests over the years being denied.

I happen to have the text of an old letter here on my pc in case it helps. We always kept it pretty basic.




February 24, 2004


US Consulate
Santo Domingo, Dominican Republic

Re: Temporary Visa for Fulanito

Dear Sir or Madam:

Our company, XYZ Corp, has a strategic partnership with ABC, SA in Dondequiera, Dominican Republic.

It would be extremely beneficial to both of our companies if Fulano, our janitor, could visit our facility in Eek, Alaska for a period of one week's cross-training. Our target dates are March 7-14.

Thank you in advance for your help.

Sincerely,

The Big Kahuna