So if I am reading this correctly it does not automatically go from temp to permanent when you go to renew after you have done 4 yrs as temp ? I was under the assumption that when you have done the years with the temp residency that when you go to renew it goes automatically to perm.. Mine is up in a 2 months and I would have have done 4yrs on the temp and does that mean I can apply for perm now ?
- Thread starter Tonchi
- Start date
Conversion from Temporary to Permanent Status
Right ok you didn’t link it to residency and it sounds fine for your purposes. I am just wondering when selling you may be limiting to buyers who accepts taking over the Dominican company that owns the property unless you dissolve the Dominican company at the same time. I don’t know but just seems to me easier when selling to transfer title if it’s not owned by a company.
I bought my condo from an owner who held the unit in an S.R.L. Not hard at all. The title from the S.R,L. was transferred to me. No different at all really.
As long as you want to keep that SRL and if you sell it the buyer wants to take it over. I guess it’s fine.
Not necessarily. We sold the SRL to the buyer. A share transfer was competed by the lawyer as part of the transaction. The buyer then had the option to change the name of the SRL - but I know of at least one instance when the buyer left the name of the SRL as is.
The point is - You sell the SLR - not the house or car or boat ( or whatever ) that is owned by the SLR. Easy/peasy and not expensive at all.
You're not even really selling the S.R.L. You're selling your shares in the S.R.L. to the buyer.
I do recall yes. I also remember issues like past tax debts etc being tied to that RNC. Lots can go wrong
The problem is the RNC is tied to that structure
Adding I could be mistaken. Need a fact check
SRL is just one structure. When you generate a structure the RNC is attached at the hip. In the old days of CxA and SxA things were more rigid
Try and explain it better please ? You are saying in any structure there is an RNC. I would say yes certainly.
No i am saying if you buy a recycled corporation, the RNC is also attached. So a careful audit of the tax and legal.record should be secured. Of course any corporation is assigned an RNC.
Ok yes. I was about to say the same. To take over an entity in this case an SRL a thorough due diligence is needed. So when someone takes over a property owned by an SRL and decides to keep the SRL. I don’t know if that is normal. What about the origin of the funds ?