On 15 December President Leonel Fernandez signed Law 479-08 – the Ley General de las Sociedades Comerciales y Empresas Individuales de Responsabilidad Limitada – into law, establishing new simplified criteria for the formation of companies in the Dominican Republic. Just two, down from seven shareholders, are needed to form a company of limited responsibility. The new law also establishes new grounds for subsidiaries, branches and agencies of foreign companies in the DR.
See www.suprema.gov.do/pdf/leyes/2008/Ley_479-08.pdf