Incorporating quicky

M

Mr. Lu

Bronze
Mar 26, 2007
1,091
88
0
Does anyone have any information (leads, links) on how to incorporate your business in 24hrs? I know the process to incorporate is much easier now, but what office handles this, for how much and has anyone done this before?



Ta'va muchly





Mr. Lu
 
R

rubio_higuey

Gold
Feb 7, 2007
8,005
625
113
There is no way to incorporate in 24 hours. You can buy a shelf company. Company24H / Companias en 24 Horas - Inicio

You can register a company also via Cuenta de Usuario

I have started the process via this page. It is VERY EASY. I had to take the process OFF-line because the page works (for now) only with the Santo Domingo Chamber of Commerce, and I am in Higuey. But I had gotten my name registered at ONAPI quick and easy (via creatuempresa.gob.do) now I am dowing the work offline (Registro mercantil and DGII).

The website is operated by Consejo Nacional de Competitividad - very good response. Laura de Castillo and Pamela Salvatore. Can help with many problem on the site and answer questions.

But the whole process takes: about 2 days for ONAPI, 2 days for Registro mercantil, 5 days for DGII (to get RNC#). That is if you have all documents ready (like copies of passports, notarial declarations, statutes, list fo shareholders, etc.) and can just fly by the pages. If you need to "do the work" between the stops it will take more time.

All in all, no way to incorporate in 24 hours.
 
cobraboy

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
936
113
Beware of shelf companies. They are only as good as the honesty of the lawyers doing them.

And do NOT do ANY business under a shelf company UNTIL the shareholders and officers, the address of record, etc. are 100% fully registered.
 
M

Mr. Lu

Bronze
Mar 26, 2007
1,091
88
0
Thanks Rubio_H for your input. I have a question for you, as it seems you are doing this at the moment. I don't understand the 10% of your worth available at signing. I read that somewhere. Do you know what I am referring to?

Cobraboy, can you elaborate on the shelf companies? What they are? How they function and why should I be aware of them?



I am trying to wrap my head around all of this, and have many questions.


Thank you,



Mr. Lu
 
C

Chip

Platinum
Jul 25, 2007
16,772
429
0
Santiago
The cost should be around RD20 to 22k for to form a company and can take up to three months.

Doing one "al vapor" can be done quickly and many lawyers that work in this area will have some available - I don't know if the cost is much more but I expect it to be somewhat more. Call my friend Lic Luis Sosa here in Santiago and tell him Chip, el americano sent you. 809-706-5859
 
cobraboy

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
936
113
Mr. Lu said:
Cobraboy, can you elaborate on the shelf companies? What they are? How they function and why should I be aware of them?
Click to expand...
It's a shell corporation that already exists. That's the good news.

They also have shareholders and officers. And one does not know what other liabilities may be lurking, just waiting for an unaware gringo with jingle in his pockets to pass by.

They generally were formed by a law firm in bulk for the expressed intent to sell to someone who has some time pressure to form a legal entity. And as I stated, they are as good as the honesty and ethics of the folks who formed them.

I am sure Robert can steer you toward a firm above reproach that have them.
 
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