Steps to Establishing a Trade Society:
TYPES OF COMPANIES
According to the Civil and Commercial Codes in the Dominican Republic there are two types of companies, civil and commercial. The latter are intended to make commercial transactions for profit and are covered by the Code of Commerce.
In the Dominican Republic there are four types of commercial companies:
general partnership:
Composed two or more partners, who assume personal responsibility and collective commitments against the company. To transfer or dispose of shares in that company's consent is needed other partners.
stock company, joint stock company may be called (C. x A.) Company Limited (CA) or Sociedad Anónima (SA) under the 5546 Act of 1961. Despite the different names are applied to all three the same legal and administrative requirements. It is the most widely used type of society in the Dominican Republic. The property of this type of company is divided among its shareholders who participate in the profits and losses in proportion to capital contribution they have made. The company has its own personality and may sue or be sued in its own name.
stock company, joint stock company may be called (C. x A.) Company Limited (CA) or Sociedad Anónima (SA) under the 5546 Act of 1961. Despite the different names are applied to all three the same legal and administrative requirements. It is the most widely used type of society in the Dominican Republic. The property of this type of company is divided among its shareholders who participate in the profits and losses in proportion to capital contribution they have made. The company has its own personality and may sue or be sued in its own name.
Limited Partnership simple:
there are two types of partners.
a) The general partners: Joint and several liability with the commitments of the company;
b) Limited partners: limited liability to contribute in the capital. The capital is constituted by shares. Company
participate: They are not subject to the formalities prescribed for other companies, ie need not be tested by a real letter or private are not subject to any requirement of advertising. Each partner acts in its own name. It is for specific purpose or business. Upon the completion of a business is terminated society.
a) The general partners: Joint and several liability with the commitments of the company;
b) Limited partners: limited liability to contribute in the capital. The capital is constituted by shares. Company
participate: They are not subject to the formalities prescribed for other companies, ie need not be tested by a real letter or private are not subject to any requirement of advertising. Each partner acts in its own name. It is for specific purpose or business. Upon the completion of a business is terminated society.
CONSTITUTION OF STOCK COMPANIES
-stock companies are practically the only type of companies used in our country for commercial purposes.
Its Constitution is based on the following documents:
1) List of shareholders with their full names which are no less than seven (7), nationality, legal age, marital status, occupation, identification number or passport (in the case of foreigners). The shareholders may include other company, in which case it should be noted its social seat, the Law of the country pursuant to which it is incorporated and the full names and general who represents it.
regard to the nationality of the shareholders, all can be foreigners, unless the company has the purpose of sale or distribution of goods, in which case the 66% must be owned by Dominicans. (Act 173 of 1966).
2) Name and address of the company in the Dominican Republic.
3) object, ie what the company will be dedicated.
4) Authorized capital (which plans to have) and paid-in capital (which has at the time of creation). The latter should correspond to at least one tenth of the authorized capital.
5) Number of shares in the capital will be divided and the par value of each share shall not be less than RD $ 5.00 pesos. There is no additional requirement regarding the minimum amount of authorized capital.
6) Payment of the shares and approval of the contributions paid in cash (cash).
7) Description and value of the assets transferred in nature. If issued any company stock in exchange for goods that are not goods in cash, a constitutional meeting should order appraisals. The report of its value should be available for shareholders five days before the Second Constituent Assembly convened to approve the appraisal.
8) Appointment of a Board of Directors of the Company (not more than six years), ie, determine who will be the president, vice president, treasurer and secretary and the main functions of each staff member. It should also be designated a commissioner of accounts (for no more than a year, the Commercial Code Art. 57).
9) The annual date of the balance sheet date can be: December 31, March 31, June 30 or 30 September. It should also indicate the dates of the Ordinary Shareholders.
10) Distribution of benefits.
11) Procedure for sale of shares.
12) Settlement Procedure.
Its Constitution is based on the following documents:
1) List of shareholders with their full names which are no less than seven (7), nationality, legal age, marital status, occupation, identification number or passport (in the case of foreigners). The shareholders may include other company, in which case it should be noted its social seat, the Law of the country pursuant to which it is incorporated and the full names and general who represents it.
regard to the nationality of the shareholders, all can be foreigners, unless the company has the purpose of sale or distribution of goods, in which case the 66% must be owned by Dominicans. (Act 173 of 1966).
2) Name and address of the company in the Dominican Republic.
3) object, ie what the company will be dedicated.
4) Authorized capital (which plans to have) and paid-in capital (which has at the time of creation). The latter should correspond to at least one tenth of the authorized capital.
5) Number of shares in the capital will be divided and the par value of each share shall not be less than RD $ 5.00 pesos. There is no additional requirement regarding the minimum amount of authorized capital.
6) Payment of the shares and approval of the contributions paid in cash (cash).
7) Description and value of the assets transferred in nature. If issued any company stock in exchange for goods that are not goods in cash, a constitutional meeting should order appraisals. The report of its value should be available for shareholders five days before the Second Constituent Assembly convened to approve the appraisal.
8) Appointment of a Board of Directors of the Company (not more than six years), ie, determine who will be the president, vice president, treasurer and secretary and the main functions of each staff member. It should also be designated a commissioner of accounts (for no more than a year, the Commercial Code Art. 57).
9) The annual date of the balance sheet date can be: December 31, March 31, June 30 or 30 September. It should also indicate the dates of the Ordinary Shareholders.
10) Distribution of benefits.
11) Procedure for sale of shares.
12) Settlement Procedure.
STEPS FOR THE ESTABLISHMENT OF A STOCK COMPANY
STEP ONE: Before entering into a company should make sure that has not registered a name identical or similar to the selected the founders or proceed to register the trade name, this procedure is performed at the National Office of Industrial Property (ONAPI) www.onapi.gov.do .
STEP TWO: We proceed to make the entry in the Register of the Chamber of Commerce and Production Company's main domicile in training, if there is a camera running, shall register with the nearest Chamber of Commerce the principal place of business company.
The requirements to qualify for entry in the Register, are:
COMPANIES IN TRAINING
1.
STATUTES 2. LIST OF SUBSCRIBERS
3. ATTORNEY ATTESTED
4. ROSTER (S) OF THE PRESENCE OF (S) ASSEMBLY (S) CONSTITUENT (S)
5. ASSEMBLY (S) CONSTITUENT (S)
6. SUPERINTENDENT REPORT OF CONTRIBUTIONS (*) (If any)
7. ACT OF CONTRIBUTION IN KIND (*) (If any)
8. COPY OF THE (S) CERTIFICATE (S) I PASSPORTS OF SHAREHOLDERS
9. RECEIPT FOR PAYMENT OF TAX ON CAPITAL, ISSUED BY THE DGII.
10. REGISTER APPLICATION FORM Please type or computer (VIA INTERNET, SEE APPLICATION FORM).
11. COPY OF CERTIFICATE OF TITLE OF NAME ISSUED BY ONAPI.
12. ORIGINAL AND COPIES OF DOCUMENTS ESTABLISHING THE PURPOSE REGISTRATION (ADDITIONAL COPY REGISTER FILE).
STATUTES 2. LIST OF SUBSCRIBERS
3. ATTORNEY ATTESTED
4. ROSTER (S) OF THE PRESENCE OF (S) ASSEMBLY (S) CONSTITUENT (S)
5. ASSEMBLY (S) CONSTITUENT (S)
6. SUPERINTENDENT REPORT OF CONTRIBUTIONS (*) (If any)
7. ACT OF CONTRIBUTION IN KIND (*) (If any)
8. COPY OF THE (S) CERTIFICATE (S) I PASSPORTS OF SHAREHOLDERS
9. RECEIPT FOR PAYMENT OF TAX ON CAPITAL, ISSUED BY THE DGII.
10. REGISTER APPLICATION FORM Please type or computer (VIA INTERNET, SEE APPLICATION FORM).
11. COPY OF CERTIFICATE OF TITLE OF NAME ISSUED BY ONAPI.
12. ORIGINAL AND COPIES OF DOCUMENTS ESTABLISHING THE PURPOSE REGISTRATION (ADDITIONAL COPY REGISTER FILE).
STEP: Registration in the National Taxpayers to the Directorate General of Internal Revenue. It incorporates an application for registration which is entered basic information of taxpayers who will later be verified, resulting in the creation of the RNC of the taxpayer or the rejection of the application if found inconsistencies.
only restriction for the use of this service is as legal persons having more than 11 relations professionals (including shareholders, managers, accountants, partners, etc..) in this case the registration process will be carried out in the area of \u200b\u200bthe Registrar of Companies. Through the Local Government jurisdiction.
Individuals:
Individuals:
This service allows individuals to request your no deposit RNC documents at the offices of the Internal Revenue at no cost, and obtain the password or PIN to services Virtual Office. Legal Persons
This service allows you to request legal persons or companies entry into the Register of Taxpayers, send the documents described below requirements, speeding up the process for allocating the number of the RNC and get the password or PIN from the Virtual Office.
For more information see: vacationtaveras@hotmail.com -side web http://www.juridicadominicana.blogspot.com
For more information see: vacationtaveras@hotmail.com -side web http://www.juridicadominicana.blogspot.com
ADVERTISING COMPANIES:
The disclosure regime is effected through the Register, under the Law 3-02, established in Article 7, by issuing certifications of the company or certified copies of your documents.
In turn, the Chambers of Commerce handed to the Ministry of Industry and Commerce, a summary of the information contained in the registry.
The disclosure regime is effected through the Register, under the Law 3-02, established in Article 7, by issuing certifications of the company or certified copies of your documents.
In turn, the Chambers of Commerce handed to the Ministry of Industry and Commerce, a summary of the information contained in the registry.
We Specialists Fast Company formation.
so that you can begin to operate your business as soon as possible. Vacationtaveras@hotmel.com
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