Business

[vpmiami]

Mr. Guzman,

I have a S corporation in Florida, I want to move my small party and supply rental business to DR.

How should I process the paperwork? Would I need to Incorporate as new business in DR?

My husbands parents were born in DR.. but my husband was born in USA. He is going to DR this week to start his paperwork for Residency. Being his parents were born there.. would it be easier for him to establish Residency? How long will it take? Can he start his business in DR.. while waiting for his Residency?

What is the cost to Incoporate in DR.. It only cost me $385.00 to have a Lawyer do it here in Florida.

Help me out please.... I keep getting mix information...

 

[Fabio J. Guzman]

You don't have to incorporate in the DR (you could "domiciliate" your American company) but you should incorporate for a variety of reasons. Just for starters, incorporation is generally cheaper and faster than "domiciliation" which implies getting an authorization from the President to establish domicile in the DR.

Residencies for Americans and others from the First World are generally easy to obtain, usually in 3 to 4 months. As the son of Dominican parents your husband can obtain Dominican citizenship although it usually takes longer than obtaining residency.

Incorporation costs are a lot higher in the DR than in the US for two reasons: a) incorporation taxes are higher and b) the process is more involved and time-consuming.

Please contact me directly for more details.

 

[Ken]

I note that Fabio didn't tell you how to contact him. His website is www.drlawyer.com and his email address is fguzman@drlawyer.com You can trust him.

 

[vpmiami]

Thank you.. Ken,

I just went on his website.. and sent him an e-mail... I will be in DR this week..so I asked him if I can make an appointment to see him while we were there.