Forming a company in DR

Buffness

Member
Oct 9, 2014
125
2
18
I know that there is a well written guide on how to form a company in DR here in DR1 ...but can someone please share their ACTUAL experience of doing this...( in particular registering a Dominican branch of a foreign company) ...is it straightforward? ......which attorney would you recommend?....any hidden costs to be aware of ? ....is it better to use an attorney or accountant.? ... and indeed , was it really all worth it for you?
 

Russell

Well-known member
Jun 17, 2017
755
76
48
Our Company formed a DR branch years ago and indeed it was painless....quite elementary...we used a Lawyer.
One benefit it gave us was one ''Residency position''.

At present I am retired in DR and My Espossa and me have a joint owned Agricultural Company.... it also was painless.
I think the key element of the latter is the Dominican content.
Russell
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,966
919
113
I've got three corporations.

It's a small pain, so have a lawyer do it for you. No need for an accountant initially, although one is helpful for the annual returns and monthly tax statements.

I use a smart, local young guy who does a fine job, but Spanish only. PM me and I'll send his number. We do all our correspondence online, so that is also helpful.

I also have a lawyer in Santo Domingo who does an excellent job. Fully fluent in English and totally honest.
 

JDJones

Gold
Jan 7, 2016
1,983
49
48
Registering a company is simple. Yes, use a trusted DR attorney. Its paper work and some nominal fees.

RUNNING a company here is a horse of a completely different color depending on what you are doing and the size of the business.
Truer words were never spoken.

What used to be a very simple undertaking is now much more complicated. Just the Gov't required statistics is a handful.
 

RepDom

Member
Jan 2, 2020
18
1
8
If you want to learn how it all works yourself, you could visit the Camara de Comercio / Registro Mercantil.

It actually does not require being a DR Attorney to form a corp I don't believe.

The CdC/RM has legal consultants that you can take a number and wait to talk to.

Depends how much local Attorneys are quoting for formation. If the prices are fair/reasonable, a local Attorney could be worthwhile.

You also need to deal with the DGII for an RNC (Tax ID) for your Corporation.
 
Last edited:

CaribeDigital

Active member
Sep 5, 2014
149
43
28
You don't need a lawyer for a simple SRL. You might need one for a publicly listed company, but then you wouldn't be asking is this forum. One of the institutions which work smoothly and with an impressive degree of competence in this country are chambers of commerce.

My customers are sometimes asking me to form a company for them but my answer is: if you have done it yourself you have proven that you can start running a business in the DR.
 

rubio_higuey

Well-known member
Feb 7, 2007
7,503
298
83
No need for a lawyer. You can do it yourself from in fornt of your computer screen
www.formalizate.gob.do

Though one caveat - register business name through ONAPI website
http://www.onapi.gob.do/
instead of through Formalizate. As silly as it sounds, you get electronic name certificate through ONAPI website which you can just print, but you need to pick up a physical certificate at ONAPI when done through Formalizate.

Because on Formalizate website you enter ONAPI certificate number, you can register it through ONAPI website and then enter it in Formalizate, it will save you one trip to ONAPI offices.

Before submitting your name, check name availability at
http://www.onapi.gob.do:8081/
and also read rule son names... do check with partial and similar sounding names, and also marks. Plus do a name search to see if your intended name does not whow up on internet as a global/international company, also your name must not be generic - those are all reasons names get denied
(for example Refrescos Dominicanos would get denied, but Refrescos Dominicanos Rodriguez would get approved, if it does not exist in one way or another - for example if Rodriguez Refrescos Dominicanos exists, Refrescos Dominicanos Rodriguez would not get approved; also if Refripartes Rodriguez is registered, Refrigeracion y Partes Rodriguez would get denied). You must do a very very extensive search on ONAPI website here http://www.onapi.gob.do:8081/ you get one chance, then two more make-up strikes to modify if your initial attempt gets denied. For modification, a personal trip to ONAPI is required)

Good luck.
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
2,291
70
48
www.drlawyer.com
I believe that a company should be customized to fit your particular circumstances, and only a good company lawyer can do that. You should choose carefully a particular company structure, and then the bylaws that are right for you. For example, here are just a few items that should be discussed and decided upon: restrictions on transfers of shares to third parties, restrictions of transfers of shares upon death of a shareholder to spouse or children, restrictions of transfers of shares upon divorce of a shareholder, management compensation and dismissal, dispute resolution (arbitration). Dominican company law allows shareholders many options to choose from, which a good lawyer will present to you; you shouldn't just copy a random company template.