On 9 June, 2010, President Fern?ndez enacted Law # 73-10 which extends the deadline for existing corporations to comply with the new company law until December 11, 2010.
thanks a lot for the important update, Fabio.
Santa,
i called my lawyer in st dgo and told her to start the process, she sent me the requisits the same day by e-mail, so i packed the requested papers in a envelope and sent them to her by Metro.
she sent me the papers to sign over around 2 months later, but we've not been in a rush, maybe it could have been done quicker.
you will get a thick staple of paperwork to sign for the sales of the shares of your S.A., to be signed by all your shareholders, you need to include a copy of the cedula of the shareholder who been the secretary for the S.A.'s finances, then there is the new constitution for the new company form, in my case a SRL, to be signed by myself as the SRL mainshareholder and my wife who is the only partner in my new company form. here also a cedula copy included from my wife and the financial report for the last at least 6 months from the S.A., that report i simply advised my accountant who lives in st dgo like my lawyer, she had that prepared and my lawyer sent a messenger to pick it up.
Mike
Is everyone else happy about paying an attorney another US$800+ to change or close out their company, which was already legal and paid for? This wouldn't fly anywhere else.
as usual people who follow the law and rules get punished, nothing out of the norm in the DR.
Companies from which year on back are affected by this?
... J-D.
All companies that have not converted. .
Under the new rules. small companies with a single owner are in one class, small companies with several owners, such as my condo where stock in company held by me and my 2 sons, are in another class, and the big companies are in a 3rd. The big companies are only ones who will continue to be SA.
The cost of the conversion to new rules depends on which class you are in. The one owner companies pay the least and the big companies who will remain as SA pay the most, substantially more than the other two.
If you have a company that owns your house, for example, you better get in touch with your attorney asap. When they finally say this is the deadline and give no more extensions, there are big fines to be paid if you have not converted.
Thanks Ken.
I just got a number of shelved companies I had opened 3 years ago... All on the old scheme with a bunch of one-share owners.
... J-D.
I use Fabio's firm and they take care of everything. My sons and I signed proxies so that they could do whatever is necessary for the conversion, and I must write checks from time to time, but otherwise they do everything including annual meetings of the shareholders, financial reports to government, etc.