Create a Dominican Corporation
CanaLaw’s 5-Step Process to Creating a Dominican Company
This information is applicable for people who want to create a company with two or more individuals as shareholders.
Step One: Providing Basic Information
Your first step in creating a Dominican company is to fill out details regarding your new company. This information is necessary for the creation of the company and identifies a minimum of 2 shareholders as required by Dominican law. Foreigners may be shareholders in the corporation and the law does not require that any shareholder be a Dominican citizen nor a Dominican resident.
We will also ask you to attach documentation we need to create your company. We ask that any photographs or scanned documents you provide must be legible.
Step Two: Requesting Your Company Name
We will verify which of the 3 possible names you provided for your company are available. The names can be in English, and we ask you to try to be creative since common names are typically already taken.
This process can take 3 to 5 business days,after which you will be sent a certificate with the approved name. If the 3 names you provided were not approved, you will be asked to provide us with 3 more possibilities. Remember: Being creative provides you with the greatest chance of success!
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Step Three: Creating the Draft Articles of Incorporation
Once the company name has been secured, we can create a draft of the incorporation documents. Since we will use the information you provided us regarding the activities your company will conduct, you should provide as much detail during the initial information gathering process (Step One) so we can prepare the ideal document for you.
Step Four: Ready to Sign
Once all the incorporation documents have been reviewed by all parties, we proceed with the signing of the constitutive documents.
In case one or more shareholder(s) cannot be present for the signing, we have a solution for you.
Step Six: Registering Your Company
We will register your company in the Chamber of Commerce and in the Internal Revenue Office. We will also obtain your company´s Dominican tax ID, known as an RNC and your company is ready to operate!