The company EXPERT SM assists in the registration of the following types of legal entities in the Dominican Republic (in the Santo Domingo):
- LTD (“Sociedad Anónima ”(S.A.) or “Compañía por Acciones”(C. por A.)). – LLC, A. Cap from 100’000 RD $ (upon registration of the company from 10% of the authorized capital is paid), from 7 founders
- Partnership (“sociedad en nombre colectivo”) (A. Cap. is missing)
- Representative / branch of foreign company in Dominican Republic (A. Cap. is absent)
Documents required for company registration:
- Information about the founders, director (s) and commissioner (secretary) of the company: copies of foreign passports
- If the founders are legal entities, then the company’s charter documents and a decision on the creation of a subsidiary / representative office will be required *
- Personal data
* – notarized and translated into Spanish
Company registration term:
- Ltd. – 30-40 business days
- Representative / branch of foreign company in the Dominican Republic – 30-40 business days
EXPERT SM also provides assistance in:
- Opening a bank account
- providing the legal address of the company
- obtaining a tax number – RNC (included in the price of company registration)
- organization of accounting of the company accounting
- providing an equipped office / secretarial service for the company
- obtaining licenses necessary for the company’s activities under the laws of the Dominican Republic
- provision of nominee directors, founders
- provision of nominee secretaries
- execution of an apostille
- registration of a residence permit. After 3 years, the resident can obtain citizenship.
Company Taxation (LLC) in the Dominican Republic:
- Income tax is the base rate of 25%, but Law # 557-95 temporarily changed tax rates by: 30% for 2006, 29% for 2007 and 27% for 2008. In 2009 The rate will return to 25%.
- Asset tax. Companies must pay annually a 1% tax on assets (“Impuesto sobre Activos”). This is a type of minimum tax, since the amount paid is deducted from the amount payable on income tax.
- VAT (“Impuesto a la Transferencia de Bienes Industrializados y Servicios – ITBIS”) – 16%
Accounting (LLC) in the Dominican Republic: Companies whose fiscal year coincides with the calendar should submit annual reports until April 30 inclusive, even if the company does not conduct business and has no profit. Companies with registered capital of RD $ 50,000 reports must be accompanied by an audit of a certified accountant. EXPERT SM provides accounting support to companies in the Dominican Republic.