Pros and Cons of buying a car under a company

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Norteman

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Dec 15, 2008
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Actually to be more specific- Its a USA incorporated company that was recently registered through the Chamber of commerce and production here, therefore having the legal RNC number to actively do business in the DR.

Just wondering if making a vehicle purchase with the said company would be a benefit or negative in anyway.
Also the companies sole director is a Dominican, if it matters any.

Appreciate any and all serious responses!!
 
O

Oche

Member
Jan 6, 2004
336
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If a traffic accident occurs and lawsuit happens, regardless of the vehicle insurance coverage and liability, chances are that it will most likely be primarily steered against the company and not against a natural person (which can be the either the driver or owner/manager of the company).

On the other hand if a company owes a determined sum of money and has formally signed a "Pagare Notarial" or a notarized IOU for that amount, or ruled against for damages (civil, penal, labor, etc) to compensate third party, etc or any other cause then the car is literally open for seizure.

The company besides other taxes will have to pay annually a tax for that asset (1%). Car value is solely determined by the DGII (Tax authority).
 
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