Dominican Republic – SRL and EIRL Company Incorporations

Company Type	Time to Incorporate	Cost

SRL / EIRL	6 weeks	£1800

Traditionally companies in the Dominican Repubic were complicated to form and maintain. The law was simplified through the new General Law on 11 December 2008 (Ley General de las Sociedades Comerciales y Empresas Individuales de Responsabilidad limitada 479-08). This means that there are now simply two types of company:

SRL- The limited liability company – Sociedades de Responsabilidad Limitada – with a minimum of two shareholders, any of which can be another limited company

EIRL – The sole trader limited company – Empresa Individual de responsabilidad Limitada – which is really intended for one person.

Documents and Information

To start incorporating your company in the Dominican Republic we require the following:

Your Company Name
The Director/s full name, date of birth, address and nationality
The Shareholder/s full name and address

Documents you are required to provide:

Proof of identity. Either passport, national identity card, photographic driving licence
Proof of residential address. Gas/electricity bill or credit/debit card bank statement dated within the last 3 months

Incorporating an SRL company in the Dominican Republic

Formacompany will firstly draw up a list of shareholders. If shareholders are unable to go to a meeting to form the company; we draw up Powers of Attorney in favour of our notary there. These documents are legalised for use in the Dominican Republic and sent to the notary. Prior to any meeting, the notary asks for a name clearence certificate from the National Office of Industrial Property.

There is then a meeting of shareholders together with our notary:

The company statutes need to be signed by the shareholders.
An appplication form to be given to the Mercantile Registry is written up and signed by all shareholders.
Share capital is deposited in a bank, and a certificate of deposit is given to the Notary.
The notary takes identification documents for all the shareholders and certifies that these people exist and are conscient of their actions.
The notary then needs to pay the incorporation tax to the “Colector de Impuestos Internos”, usually 1% of the value of authorised capital.

The company is formed after the notary sends to the Mercantile Register a copy of:

The deed of incorporation.
The Incorporation Application.
A bank deposit receipt.
A receipt showing payment of Incorporation Tax.
And the required payment to the Mercantile Register.

Share Capital

Share capital needs to be RD$ 100000 (€1900) for an SRL. If the company is a single person company (EIRL), there is no specific minimum share capital.

Officers

These are elected by the First General Meeting (asamblea constitutiva) and reaffirmed at the AGM (asamblea anual de accionistas).

Are ready made companies available?

Yes.

Company Name Check

If the name is approved a certification of approval of the name is issued by the National Industrial Property Office within 10 days. When registering the company name, it is necessary to file a formal name application to the State Secretarial for Industry and Commerce.

Publish the company name in the monthly publication of the ONAPI

After this publication the company name must be published in a national circulation newspaper.

Notarise documents

The incorporation of the company is done with a notary. They will normally act with Powers of Attorney on behalf of shareholders outside the Dominican Republic.