Can a US holding company buy property or cars in the DR?

Makinater

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I do guess that the answer to my question is a unanimous "yes", however, what really interests me is if it's possible to buy houses/apartments/cars with a New Mexico State LLC. The point being, of course, to obtain and own property anonymously.

So, how does one go about to buy property/cars in the name of a New Mexico State LLC? Is it possible to do this with a power of attorney so that one does not have to reveal one's own identity in the process of buying/selling? Or are there an easier way, like using a local equivalent of the New Mexico State LLC (not sure if there even is one, but I suppose this is the right place to ask)?
 

william webster

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Many people hold property here through companies..... mine is an RD company established exclusively for that purpose nad for the same reasons it is done in other jurisdictions.

A local company may be a better avenue.... for tax payments, etc.
Foreign corps may carry higher fees.... let a lawyer be more specific and correct me.
 

cobraboy

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You'll still have to register your company and part of that application is NOT anonymous.
 

Castellamonte

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Cobraboy is correct! You can basically buy anything through a US LLC (regardless of the state) but in order to provide any protection under the laws of this country you need to register the LLC with the DR. In doing this it makes you subject to the DGII taxes based on a % of the capitalization of the company. So if you do this, capitalize it at RD$50K or RD$500K (depending upon what you are buying and holding) to minimize your tax exposure.

You will need to file taxes annually so get an accountant as well.
 

jabejuventus

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Regarding anonymity, isn't this a public forum, ie, can't a motivated jurisdiction w/legal authority trace any poster's ID if they wanted to?
 

Castellamonte

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Yes, I'm pretty sure Robert can track where a poster came from as far as the IP address is concerned. That doesn't necessarily resolve to a single individual, however. But why would a "motivated jurisdiction" even care? I haven't seen any plots to overthrow the country out here...
 

jabejuventus

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Yes, I'm pretty sure Robert can track where a poster came from as far as the IP address is concerned. That doesn't necessarily resolve to a single individual, however. But why would a "motivated jurisdiction" even care? I haven't seen any plots to overthrow the country out here...

You missed my point and I won't elaborate further.
 

Makinater

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You missed my point and I won't elaborate further.

I also missed the point, to be honest. In my case, it would be easy to tie IP, info from different threads and my wife's personal info (Chennifer) to a single person - which is me. That said, it only means that I am interested in owning things via holding companies in the D.R. - not that I want to buy a specific property. Thus, I do believe that it would be quite impossible to find out which property - if any - I will buy in the future, provided that it is possible to do this anonymously. But since we both missed the point, and since I am interested in learning more about this, I do wish you to elaborate further. If not here, in a PM.

In any case I would like to thank you for taking the time to answer me!
 

Makinater

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You'll still have to register your company and part of that application is NOT anonymous.

What does this registration process entail? Is it impossible to hire a lawyer and provide him/her with a power of attorney to register the foreign company without revealing the identity of the company's owner?
 

william webster

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you will be anonymous - for the most part -
as you know, anonymity stops somewhere - there is a name eventually.
Ask any Swiss bank

Corporate ownership is possible and is as anonymous as any other jurisdiction.

You'll like it here, many people are quite camera shy.....:squareeye
 

william webster

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What does this registration process entail? Is it impossible to hire a lawyer and provide him/her with a power of attorney to register the foreign company without revealing the identity of the company's owner?

Yes, POA is possible.......... but there will be a responsible owner.... you may be able to hide behind a lawyer....

But in doing so, he may hide behind you.....
 

Makinater

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@ Chris(t) Col?n :squareeye

Forgot to mention that time pass by fast y que aterrizamos en el patio pronto. Dame dos meses y pico, y estamos all?. Entonces arrancamos pa'la matica un d?a completo con yaniqueque, pa'l de frias y una tonelada de mango - ?s? o no? I hope you're game, hombre. Will PM my cel number tam pronto que tengo uno. What do you recommend for us, coming there with Androids/iPhones y solamente necesitando las tarjetas SIM para navegaci?n y llamadas? ?Claro? ?Orange con flex Leopardo? And for mobile broadband para los computadores? A bit off topic in this thread, I know. But I am a chit-chatty bas*ard so forgive me for going in all directions here ...
 
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Makinater

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you will be anonymous - for the most part -
as you know, anonymity stops somewhere - there is a name eventually.
Ask any Swiss bank


Corporate ownership is possible and is as anonymous as any other jurisdiction.


You'll like it here, many people are quite camera shy.....


LOL. Really like you're post. And of course you are right that anonymity stops somewhere. I am not a terrorist looking for a hide out where I can refine my plutonium, so I am not concerned at all if my anonymity should be breached eventually by some government personnel's determined effort - not that I see how that would ever happen to an Average Joe like me. I am just looking to live privately with most of my assets protected and not subject to potential law suits, et cetera.


Please enlighten me about the part of corporate ownership. As far as I've understood, there are EIRL, SRL and SA in the Dominican Republic. As for the SRL, I read this part about su Denominaci?n Social on this site:


Podr? ser designada por una denominaci?n social, la cual podr? contener el nombre de uno o varios socios asi como un apelativo de fantas?a. Deber? ser seguida de las palabras “Sociedad de Responsabilidad Limitada” o “SRL”

As far as I understood from this text, it is completely possible to form a SRL with un apelativo de fantas?a - quiere decir an?nimo. Please correct me if I'm wrong, but if I am not - it means that it would be an even better solution than a foreign holding company like a New Mexico LLC - but with the same degree of anonymity.

PS. The Swiss bank secrecy has become as full of holes as the Swiss cheese these days. I'd go with Liechtenstein or Austria instead, if I wanted private banking. DS.
 

william webster

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LOL. Really like you're post. And of course you are right that anonymity stops somewhere. I am not a terrorist looking for a hide out where I can refine my plutonium, so I am not concerned at all if my anonymity should be breached eventually by some government personnel's determined effort - not that I see how that would ever happen to an Average Joe like me. I am just looking to live privately with most of my assets protected and not subject to potential law suits, et cetera.


Please enlighten me about the part of corporate ownership. As far as I've understood, there are EIRL, SRL and SA in the Dominican Republic. As for the SRL, I read this part about su Denominaci?n Social on this site:


Podr? ser designada por una denominaci?n social, la cual podr? contener el nombre de uno o varios socios asi como un apelativo de fantas?a. Deber? ser seguida de las palabras “Sociedad de Responsabilidad Limitada” o “SRL”

As far as I understood from this text, it is completely possible to form a SRL with un apelativo de fantas?a - quiere decir an?nimo. Please correct me if I'm wrong, but if I am not - it means that it would be an even better solution than a foreign holding company like a New Mexico LLC - but with the same degree of anonymity.

PS. The Swiss bank secrecy has become as full of holes as the Swiss cheese these days. I'd go with Liechtenstein or Austria instead, if I wanted private banking. DS.


they are all full of holes...... alternatives exist but you need an good, international accountant

Boys shouldn't try this at home.....

K-I-S-S.... go w/ a DR company like everybody else and hide in the crowd......

Anonymity is better in a group.......

and wear a mask.........
 

Castellamonte

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I prefer to wear an eye patch, it confuses them better than a mask since everyone is wearing one.

If you have a US LLC and buy/create a DR SRL you will also be able to have any tax implications flow from the SRL to the LLC and then onto the individual owners of the LLC partnerships. If you would like to get real Byzantine you can have yet more companies own the LLC partnerships or have other offshore companies (Panama comes to mind) own them in the name of the attorney. But at the end of the day you have to decide if you are trying to hide or just trying to protect your assets through corporate shields.

If it is the former, forget it. We even found Bin Laden after awhile. You'll be found if you are that big of a fish.
If it is the latter, a DR layer and one US layer will wrap you up better than anything providing you are not trying to defraud anyone (see above).
 

Makinater

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Thanks a lot for all the answers, especially Castellamonte and William Webster. Lots of great info, so I'll bookmark this thread and see how I do to get things sorted in the future.

Gracias ...