Do-it-yourself-incorporation

[Fabio J. Guzman]

I'm working on it.

[rubio_higuey]

The new laws:

http://www.suprema.gov.do/pdf/leyes/2008/Ley_479-08.pdf

First, There is a new entity called SRL Sociedad de Responsabilidad Limitada. It has a minimal capital of RD$100,000

The money has to be deposited into a bank and blocked until the bank receives the information the company is entered into Registro Mercantil. Up to now, you could create a company with "virtual money"
Minimum two partners, maximum 50.

Second, SA Sociedad Anonima will have a minimal capital of 30,000,000 pesos (yes, THIRTY MILLION). Minimum two shareholders.
Much more complicated process to create the company. For example, Comisario has to be a certified public accountant.

[MikeFisher]

great info Rubio.
thanks for sharing
Mike

[Fabio J. Guzman]

Go to the thread Overview of Dominican Corporations. You''ll find it there.

[drcaycu]

I have an ofshore company registred here in Reg.Mercantil and DGII. As I see it it is like a subsidiary of the foreign company. I am thinking of transforming it to an S.R.L. and at the same time make a person who has helped me here a lot a minor shareholder. So I would make the foreign company I have the major shareholder. Does anybody know if I can do this as an transformation. It is because I will have had a loss the first two years and I want to bring that loss into the new company.

[Minnesota Pat]

This was extremely informative and helpful.
Would any one care to comment on what banking institution is good to work with? Are any of the banks insured and is the insurance for an account worthwhile?
I thank you,
Minnesota Pat