News
- Law 491-08 introduces changes in the Cassation Procedure.
- New Commercial Societies Law No. 479-08 in the Dominican Republic.
01. Which ways of commercial organization does dominican republic has (companies)?
The Commercial Societies and Individual Limited Liabilities Corporation Law acknowledges six (6) corporate structures. Which are:
- General Partnership Societies
- Limited Partnership Societies
- Limited Partnership Societies by Shares
- Anonymous (Public and Private) Societies
- Limited Liability Societies
- Individual Entities of Limited Liability
02. Requirements for foreigners to constitute companies in the dominican republic
There are no particular requirements for foreigners in order to build corporations in Dominican Republic, they have the same conditions as Dominican Citizens.
Back03. Could a foreing corporation carry out business in the dominican republics?
The Commercial Societies and Individual Limited Liabilities Corporation Law, disposes that the foreign corporations could carry out legal acts or operate business in Dominican Republic as long as these corporations obtain their proper registration in the Commercial Registrar and in the National Registry of General Internal Income Taxes.
Back04. Requirements needed to obtain a dominican residence VISA
In order to obtain a Dominican residence visa the following documents must be deposited before the Dominican Consulate in the designated country. To wit:
- Application letter
- Form 509-Ref.
- Warranty letter of a person or Dominican Company, or from a foreign residing in the country
- Certificate of no criminal records
- Medical Certificate
- Employment Contract, letter from the Bank or other financial solvency prove
- Four front face photos 2”x2” and three side face photos
- Birth certificate
- Passport photocopies
- Certification from the National Migration Bureau of the last entrance to the country
The application of provisional residency must be accompanied with the following documents:
- Application letter
- Form B-1-A dully completed
- Photocopy of passport and resident visa
- Certification of the Residence Visa issued by the Ministry for Foreign Affairs, in case it applies
- Warranty letter of a Dominican Citizen or resident, legalized before a Public Notary
- Six photos 2” x 2” ( four front face and two side face)
- Certificate of No Criminal Records issued by the National Police
- Payment of the corresponding taxes and seals
A permanent residence card could be issued upon expiration of the provisional residence.
Back05. Which are the main areas of investment in dominican republic?
- Tourism. Is the main source of income of the Dominican Republic. Currently there is a great boom in the Real Estate investment in the tourist projects, especially in the East region of the country: Bavaro-Punta Cana.
- Duty Free Zones. Another important source of income in the economy in the Dominican Republic. Duty free zones are exempt on payment of certain taxes and the country forms part of the Free Trade Agreement and Lomé Convention.
- Telecommunications. This area has developed significantly in the last few years. Beginning in the ninety’s various foreign companies have been establishing in our country offering telecommunications services, which have collaborated to create jobs.
Others main areas of investment in the Dominican Republic are: Banking, mining, agro industry, construction, among others.
Back06. Does the dominican republic have foreign investment laws?
Yes, the country has diverse laws that tend to boost the foreign investment. Among which we cite:
Foreign Investment Law 16-95. With this law the Foreign Investors have obligations and similar rights to those of the nationals. This implies that the foreign investments under the Dominican Law will receive an equal or neutral treatment in relation to the local investments.
Tourist Incentives Law 158- 01. Its main objective is the rational develop of a sustained tourist industry in determined areas of the Dominican Republic, through multiples and attractive taxes/fiscal opportunities for investors.
This law grants tax exemptions for a period of 10 years of 100% from the following taxes:
- Income Tax (ISR).
- Import taxes and tax over the transfer of industrialized good and services (ITBIS) for the importation of machinery, equipments, materials and furniture necessary for the first requirement and placement of the tourist installation.
- National and Municipal Taxes for companies construction and for capital increase of companies already constituted.
- National and Municipal Taxes for Real Estate right transfers and taxes over the Real Estate Property (IPI).
- Rates, rights and installments for the elaboration of designs of the studios, consulting, supervision and construction of the work to be carried out in the tourist project, being this last one applicable also to the contractors in charge of the execution of the works.
Likewise, as established by law, the companies or individuals could have a deduction of up to 20% of its annual utilities, as long as and when invested in a project benefiting from these incentives.
Back07. Which are the main taxes of the dominican republic?
Income Tax (ISR). Is the income tax of all rent, income, utility or benefit, obtained by physical persons, companies and indivisible successions, in a determined term.
Tax on the Industrialized Goods transfer (ITBIS). Is the tax for transfer and import of industrialized goods, as well as the provision and services contract.
Tax on the Real Estate Property (IPI). Is the tax that applies to the housing (houses and apartments) and to the lots located in urban areas where there isn’t a construction, or where this one occupies less of the 30% of the terrain.
Other taxes are: Taxes over successions and donations, Selective Income to the consumer, among others.
Back08. Can a foreigner acquire real estate properties in the dominican republic?
Foreigners have the same requirements as for Dominican Citizens. It is important before purchasing real estate property, to request a certification before the Deed Registrar, as to be able to confirm that the property is free of encumbrances. The real estate transfer requires the payment of the corresponding transfer tax
Back09. Is there in the dominican republic a legal frame to protect the rights of author, patents, copyright, etc.?
Author Rights Law 65-00, of August 21st, 2000 protects all original intellectual creation, whether literary, artistic or scientific that could be fixed, transmitted or reproduced by all other existing or printing means, reproduction, or of release of information. It protects the practice of rights related to the author rights, to prevent in an efficient manner the illegal transmission of television programs and the unauthorized reproduction of music.
The patents could be obtained to protect the inventions, the utility models and the industrial designs. The patents applications should be addressed to the National Copyright Office.
All foreigners could request a patent in Dominican Republic. The owner of the foreign patent could also request a certificate which could not exceed the term for which has been agreed abroad.
The rights of copyright receive an adequate legal protection in Dominican Republic. The country is member of the most important international conventions in that subject and there are diverse laws and special regulations that rule this domain.
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