The Chamber of Deputies has enacted and approved the law that modifies the existing Civil Aviation law in the country. The modifications are being applied in order to accommodate the request by Brazilian airline Gol to set up a regional hub in the country.
The changes include article 237 that now establishes that a company is regarded as a Dominican business if at least 35% of its capital belongs to Dominicans and the same number of the board of directors are Dominican.
In addition, 50% plus one of the other directors, not on the board, must be Dominican and the head office should be in the Dominican Republic. This is more accommodating than the standard law for establishing a Dominican business.
Following the other changes, from now, overseas airlines can operate in the country, within the limits of the law. The bill with the changes to accommodate Gol was sent by President Medina.
www.elnuevodiario.com.do/app/article.aspx?id=327060