new business registration

Phil

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Mar 2, 2002
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I would like to know if as a foreigner, holding dutch citizenship, I can register a LLC (limited liability company) to acquire a tax id to start doing business in DR. If so, then what would be the procedures and costs.
Thank you in advance.
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
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If you are going to be doing business in the D.R., either personally or through a company, you will need to become a resident.

For the LLC to do business in the D.R. it's advisable that you go through the process of obtaining an authorized domicile ("domicilio autorizado") for the company. This process, however, requires a Presidential Decree which takes a long time. It's preferable (faster and cheaper) to form a Dominican company with the LLC as the controlling shareholder.
 

Phil

New member
Mar 2, 2002
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for Fabio Guzman

for Fabio Guzman.

So If I form a dominican company, as I understand that business can be conducted while papers are in process, Can I reside there to operate the business? Please elaborate.
What are the average costs? Thanks again
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
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252
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www.drlawyer.com
If you reside here to operate the business you'll need to become a legal resident.

Cost of setting up a company depends on the capitalization. E-mail me with this information and I'll get back to you.