Navigating the Complex Payroll Landscape

The Dominican Republic’s payroll regulations are intricate, requiring meticulous attention to detail to ensure compliance. By outsourcing payroll functions, businesses can tap into the expertise of professionals well-versed in local labor laws and taxation, mitigating the risks associated with non-compliance.

Cost Efficiency and Resource Optimization

Outsourcing payroll services offers a cost-effective solution for businesses seeking to optimize resources. Rather than allocating internal resources to manage complex payroll processes, organizations can redirect these valuable assets towards strategic initiatives, fostering growth and innovation.

Accuracy and Compliance

Maintaining accurate and compliant payroll records is paramount. Outsourcing to specialized providers ensures adherence to local regulations and minimizes the likelihood of errors. This accuracy not only prevents potential legal issues but also instills confidence among employees regarding the reliability of their payroll processes.

Focus on Core Competencies

As businesses expand, the complexity of payroll processes often increases. Outsourcing allows companies to concentrate on their core competencies, leaving the intricate details of payroll administration to experts. This streamlined approach contributes to organizational agility and overall efficiency.

Enhanced Data Security

In an era where data security is a top priority, outsourcing payroll services can provide an added layer of protection. Reputable payroll outsourcing providers employ robust security measures to safeguard sensitive employee information, reducing the risk of data breaches.

Scalability and Flexibility

The Dominican Republic’s dynamic business environment demands scalability. Payroll outsourcing provides the flexibility to adapt to changing business needs, whether it be handling an increase in employees or accommodating seasonal fluctuations.

In conclusion, payroll outsourcing in the Dominican Republic emerges as a strategic choice for businesses aiming to streamline operations, ensure compliance, and focus on strategic growth. By leveraging the expertise of outsourcing partners, organizations can navigate the complexities of payroll administration, fostering a foundation for sustainable success in this vibrant and evolving market.

Get Assistance from Easyco Experts!

The Dominican Republic is the perfect country for your company formation! To make sure you register your company in the right way, you can get in touch with us, and our team of experts will ensure your business registration process complies with all Dominican laws.

At Easyco, we make company formation in the Dominican Republic easy; our corporate experts have vast experience helping companies and individuals register their business in the Dominican Republic, with a proven track record of success across all our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing an easy online company registration experience. Start your company in the Dominican Republic today!

Furthermore, Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,
• Providing a registered office address
• Handling tax and accounting
• Hassle-free Payroll Services
• Manage your company bank account opening
• Manage your Trademark Registration
• Recruiting and Hiring Talent

The post Payroll Outsourcing in the Dominican Republic appeared first on Easyco.

Corporate Legal Framework

To establish and operate a business in the Dominican Republic, one must navigate a legal landscape characterized by transparency and ease of doing business. The country boasts a modern legal framework that encourages foreign investment, making it an attractive destination for businesses. Key elements of the legal framework include:

1. Company Formation: The Dominican Republic offers various business legal structures, including Limited Liability Companies (LLCs), corporations, and partnerships. Understanding which entity best suits your needs is a critical first step.
2. Regulatory Compliance: Complying with Dominican regulations and legal requirements is essential. This includes obtaining the necessary permits, and licenses, and adhering to labor and tax laws.
3. Contract Law: A solid foundation of contract law is crucial for businesses. This entails drafting and reviewing contracts, ensuring they are legally sound, and protecting your interests.

Key Legal Services

To navigate the corporate world in the Dominican Republic effectively, companies often require specific legal services. Some of the essential legal services include:

1. Due Diligence: Before entering into business partnerships or mergers, conducting thorough due diligence is imperative to assess potential risks and liabilities.
2. Intellectual Property Protection: Safeguarding your intellectual property rights through patents, trademarks, and copyrights is vital in a competitive market.
3. Tax and Financial Compliance: Understanding Dominican tax laws and financial regulations is essential to ensure your business remains compliant and efficient.
4. Employment and Labor Law: Employment laws in the Dominican Republic are comprehensive. Legal services are needed to navigate labor contracts, disputes, and workplace regulations.
5. Dispute Resolution: In case of conflicts or legal disputes, having access to legal expertise for dispute resolution, whether through negotiation or litigation, is vital.
6. Foreign Investment Guidance: Foreign companies investing in the Dominican Republic may require specific legal guidance related to investment regulations and incentives.

Business Opportunities in the Dominican Republic

The Dominican Republic presents numerous business opportunities, especially in tourism, renewable energy, manufacturing, and technology sectors. Expanding your business in these domains requires legal support that is well-versed in the intricacies of each sector.

Get Assistance from Easyco Experts!

The Dominican Republic is the perfect country for your company formation! To make sure you register your company in the right way, you can get in touch with us, and our team of experts will ensure your business registration process complies with all Dominican laws.

At Easyco, we make company formation in the Dominican Republic easy; our corporate experts have vast experience helping companies and individuals register their business in Brazil, with a proven track record of success across all our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing an easy online company registration experience. Start your company in the Dominican Republic today!

Furthermore, Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,
• Providing a registered office address
• Handling tax and accounting
• Hassle-free Payroll Services
• Manage your company bank account opening
• Manage your Trademark Registration
• Recruiting and Hiring Talent

The post Corporate Legal Services in the Dominican Republic appeared first on Easyco.

What services are included?

First and foremost, firms specializing in accounting and tax outsourcing in the Dominican Republic offer an array of services, including:

• Financial Statement Preparation: Accurate and compliant financial statements are a cornerstone of this service.
• Tax Compliance: Expert guidance ensures adherence to the Dominican Republic’s tax regulations.
• Payroll Management: Outsourcing payroll services simplifies human resources management.
• Budgeting and Forecasting: Proficient assistance in setting and maintaining budgets.
• Audit Assistance: Ensuring transparency and compliance through professional auditing.

Why Do It in the Dominican Republic?

The Dominican Republic is an appealing choice for outsourcing your accounting and tax needs for several compelling reasons:

• Cost-Efficiency: Outsourcing in the Dominican Republic often offers cost savings compared to in-house options.
• Skilled Workforce: The country boasts a skilled and bilingual workforce proficient in financial and legal aspects.
• Stable Economy: The nation maintains a stable economy, instilling confidence in foreign investors.
• Strategic Location: Its strategic location in the Caribbean region facilitates international business connections.

Benefits of outsourcing the tax and accounting in the Dominican Republic

Entrusting your accounting and tax needs to professionals in the Dominican Republic yields numerous advantages, including:

• Focus on Core Competencies: Outsourcing frees up time and resources for you to concentrate on your core business functions.
• Compliance Assurance: Experts ensure your compliance with the latest tax regulations, mitigating risks.
• Reduced Risk: Minimize risks associated with financial mismanagement or non-compliance.
• Scalability: Effortlessly adapt your financial management as your business grows.

In conclusion, accounting and tax outsourcing in the Dominican Republic offers an appealing avenue for businesses aiming to streamline their financial management efficiently. With a diverse array of services and numerous benefits, this strategic approach is well-suited for both local and international companies. As the Dominican business landscape continues to thrive, embracing outsourcing can be a forward-thinking step toward sustained success.

Get Assistance from Easyco Experts!

The Dominican Republic is the perfect country for your company formation! To make sure you register your company in the right way, you can get in touch with us, and our team of experts will ensure your business registration process complies with all Dominican laws.

At Easyco, we make company formation in the Dominican Republic easy; our corporate experts have vast experience helping companies and individuals register their business in Brazil, with a proven track record of success across all our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing an easy online company registration experience. Start your company in the Dominican Republic today!

Furthermore, Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,
• Providing a registered office address
• Handling tax and accounting
• Hassle-free Payroll Services
• Manage your company bank account opening
• Manage your Trademark Registration
• Recruiting and Hiring Talent

The post Accounting and Tax Outsourcing in the Dominican Republic appeared first on Easyco.

I. Understanding the Requirements

Before embarking on the journey of opening a corporate bank account, it’s crucial to familiarize yourself with the specific requirements. Transitioning into a foreign market comes with its unique set of regulations. In the Dominican Republic, these requirements typically include:

1. Legal Entity: Ensure your company is legally registered and recognized in the Dominican Republic.
2. Business Plan: Prepare a comprehensive business plan outlining your company’s operations, goals, and financial projections.
3. Documentation: Gather essential documents such as Articles of Incorporation, tax identification numbers, and valid identification of authorized signatories.

II. Selecting the Right Bank

Choosing the right financial institution is a critical step in the process. Consider the following factors when selecting a bank for your corporate account:

1. Reputation: Opt for a bank with a solid reputation for stability and reliability in the financial sector.
2. Services Offered: Evaluate the range of services the bank offers, including online banking, foreign exchange, and access to credit facilities.
3. Location: Proximity to your business operations can simplify transactions and communication with the bank.

III. Initiating the Application Process

Once you’ve identified the bank of choice, it’s time to initiate the application process. Prepare the following documents and information:

1. Application Form: Complete the bank’s application form accurately and provide all required details.
2. Legal Documents: Submit the necessary legal documents, including your company’s registration certificate and articles of incorporation.
3. Know Your Customer (KYC) Requirements: Be prepared for KYC procedures, which may involve providing information about beneficial owners and the source of funds.

IV. Compliance and Due Diligence

Compliance with the Dominican Republic’s banking regulations is paramount. Banks in the country adhere to strict compliance standards to combat money laundering and other financial crimes. Be prepared for:

1. Due Diligence: Expect thorough due diligence processes by the bank to verify your company’s and its stakeholders’ authenticity.
2. Anti-Money Laundering (AML) Checks: Ensure your business operations and transactions align with AML regulations.

V. Account Activation and Maintenance

After successfully completing the due diligence process, your corporate bank account will be activated. Ensure you:

1. Deposit Funds: Fulfill the initial deposit requirement to activate the account.
2. Maintain Compliance: Continuously adhere to compliance regulations, provide updated documents as required, and stay informed about changes in banking laws.

In conclusion, opening a corporate bank account in the Dominican Republic is a strategic move for businesses looking to expand into the Latin American market. You can navigate this process by understanding the requirements, selecting the right bank, and adhering to compliance standards. Ensure that your company complies with all local laws and regulations to enjoy the benefits of a corporate bank account in this vibrant and growing economy.

Get Assistance from Easyco Experts!

The Dominican Republic is the perfect country for your company formation! To make sure you register your company in the right way, you can get in touch with us, and our team of experts will ensure your business registration process complies with all Dominican laws.

At Easyco, we make company formation in the Dominican Republic easy; our corporate experts have vast experience helping companies and individuals register their business in Brazil, with a proven track record of success across all our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing an easy online company registration experience. Start your company in the Dominican Republic today!

Furthermore, Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,
• Providing a registered office address
• Handling tax and accounting
• Hassle-free Payroll Services
• Manage your company bank account opening
• Manage your Trademark Registration
• Recruiting and Hiring Talent

The post Corporate Bank Account in the Dominican Republic appeared first on Easyco.

1. Sociedad Anonima (SA) or Corporation

A Sociedad Anonima is a type of corporation that is commonly used for large businesses in the Dominican Republic. This type of company requires a minimum of two shareholders, and its shareholders are only liable for the amount of capital they have contributed. The benefits of an SA include limited liability for shareholders, ease of transferability of shares, and a more formal structure for the company. Requirements for an SA include registering with the Commercial Registry, obtaining a tax identification number, and obtaining a business license.

2. Sociedad de Responsabilidad Limitada (SRL) or Limited Liability Company

A Sociedad de Responsabilidad Limitada is a type of limited liability company that is commonly used for small to medium-sized businesses in the Dominican Republic. This type of company requires a minimum of two partners, and its partners are only liable for the amount of capital they have contributed. The benefits of an SRL include limited liability for partners, flexibility in management structure, and ease of incorporation. Requirements for an SRL include registering with the Commercial Registry, obtaining a tax identification number, and obtaining a business license.

3. Empresario Individual (EI)

An Empresario Individual is a type of sole proprietorship that is commonly used for small businesses in the Dominican Republic. Consequently, this type of company is owned and managed by a single individual, and the owner is personally liable for all debts and obligations of the business. The benefits of an EI include complete control over the business and ease of incorporation. Requirements for an EI include registering with the Commercial Registry, obtaining a tax identification number, and obtaining a business license.

4. Cooperativa

A Cooperativa is a type of cooperative that is commonly used for agricultural and financial businesses in the Dominican Republic. This type of company is owned and operated by its members. They share in the profits and decision-making of the business. The benefits of a Cooperativa include shared risk and decision-making, tax benefits, and access to capital. Requirements for a Cooperativa include registering with the Cooperatives Directorate, obtaining a tax identification number, and obtaining a business license.

5. Sucursal or Foreign Branch Company

A Sucursal is a type of branch office that is commonly used for foreign businesses operating in the Dominican Republic. This type of company is a separate legal entity from its parent company but is still subject to the regulations and requirements of the Dominican Republic. The benefits of a Sucursal include access to the Dominican Republic market, reduced risk, and the ability to expand operations. Requirements for a Sucursal include registering with the Commercial Registry, obtaining a tax identification number, as well as obtaining a business license.

In conclusion, understanding the most common types of companies in the Dominican Republic can be crucial for entrepreneurs looking to start a business or for individuals looking to invest or work with a particular type of company. Each type of company has its own requirements and benefits, and choosing the right type of company can depend on the size of the business, the industry, and the goals of the company. By understanding the differences between each type of company, entrepreneurs and investors can make informed decisions that will help them succeed in the Dominican Republic market.

How to register a company in the Dominican Republic?

1. First. decide which type of company best suits for business needs
2. Appoint a Legal Representative
3. Check the availability of the name at the Mercantile Registry
4. Draft the company’s bylaws
5. Pay the incorporation fees
6. Submit the documents to the Chamber of Commerce
7. Obtain an RNC
8. Finally, open a corporate bank account

Get Assistance from Easyco Experts!

The Dominican Republic is the perfect country for your company formation! To make sure you register your company in the right way, you can get in touch with us, and our team of experts will ensure your business registration process complies with all Dominican laws.

At Easyco, we make company formation in the Dominican Republic easy; our corporate experts have vast experience helping companies and individuals register their business in Brazil, with a proven track record of success across all our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing an easy online company registration experience. Start your company in the Dominican Republic today!

Furthermore, Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,
• Providing a registered office address
• Handling tax and accounting
• Hassle-free Payroll Services
• Manage your company bank account opening
• Manage your Trademark Registration
• Recruiting and Hiring Talent

The post Most Common Types of Companies in the Dominican Republic appeared first on Easyco.

Thanks to the multiple Tax Benefits the government offers as an incentive for opening companies, the Dominican Republic has attracted people from all over the world and is now considered one of the best countries to start a business in Central America.

What is an RNC?

RNC stands for ‘Registro Nacional de Contribuyents’, which is the number used as identification for taxpayers in the Dominican Republic. Both natural persons and legal entities need a Tax ID Number to conduct commercial activities.

Obtaining a Tax ID is one of the final steps in the company formation process, and is necessary to open a corporate bank account, as well as to start operations. This number must be in all receipts and documents the company is going to issue since it proves its existence.

How to obtain an RNC?

The process to obtain an RNC for your company in the Dominican Republic can be done online at the website of the ‘Dirección General de Impuestos Internos’, also known as DGII. Depending on the type of legal structure your company is in, the steps and requirements may vary, but they usually need the submission of the documents proving the existence of the company, as well as the information about the legal representatives, shareholders, etc.

What documents are required to obtain an RNC in the Dominican Republic?

In order to obtain an RNC you must submit the following documents to the DGII. These may vary depending on the type of company you chose:

• Copy of the ID or passport of the shareholders

• Copy of the certificate of the company name to be registered

• Copy of the certificate of company registration provided by the Mercantile Registry

• Copy of the notarized bylaws

• If applicable, a copy of the certificate of ownership of physical assets (properties, vehicles, etc.)

What government agency issues it?

The ‘Dirección General de Impuestos Internos’ or DGII, is the government’s office in charge of the recollection and distribution of all internal taxes in the Dominican Republic since 1997. Its main office is located in Santo Domingo, but it has many others distributed throughout the whole country.

The objective of the DGII is to guarantee all taxpayers comply with their fiscal responsibilities, but also to avoid drug trafficking, fraud, noncompliance, piracy, and more.

Is it necessary to have a registered company in the Dominican Republic to obtain an RNC?

Yes, if you need an RNC for business purposes, it is essential to have a registered company in the Dominican Republic. If you already have a company, then you most definitely also have an RFC, since it is part of the company formation process in the Dominican Republic.

These are some of the steps you need to follow to register a company:

1. Choose the correct type of legal form for your company

   It is important to remember how many shareholders or members the company is going to have. These are some of the most common types of companies in the Dominican Republic:

   • A corporation or ‘Sociedad Anónima’ (S.A.)

   • Limited Liability Company or ‘Sociedad de Responsabilidad Limitada’ (S.R.L.)

   • Foreign Branch Office

2. Appoint a Legal Representative in the Dominican Republic

3. Register the name of the company at the Mercantile Registry

4. Draft the company’s bylaws

5. Pay the incorporation fees

6. Submit the registration documents to the DGII to obtain a Tax ID in the Dominican Republic

7. Open a corporate bank account

Get Assistance from Easyco Experts!

Do you need an RNC in the Dominican Republic? We can help you! At Easyco, we make company formation in the Dominican Republic easy; our team of corporate experts has vast experience helping companies and individuals register their business in the Dominican Republic, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM and makes business registration easy by providing a hassle-free online company registration experience. Start your company in the Dominican Republic today!

Easyco also provides additional services to guarantee your company’s compliance, which includes:

• Appointment of legal representation,

• Providing a registered office address

• Handling tax and accounting

• Hassle-free Payroll Services

• Manage your Company bank account opening

• Manage your Trademark Registration

• Recruiting and Hiring Talent

• Corporate Legal Services

The post What is your Tax ID in the Dominican Republic? | RNC appeared first on Easyco.

Other main industries involve infrastructure, manufacturing, the development of renewable energy, and agriculture.

Below you can find some of the incentives, exemptions, and regulations the government of the Dominican Republic promotes to help the development of the country.

Territorial Tax System

The Dominican Republic follows a Territorial Tax System, which means that it only collects income from Dominican Republic sources, and all income that comes from abroad is exempt from taxes, even if it’s received by individuals or companies that are based in the Dominican Republic.

Tax Incentives

The Dominican Republic has a history of economic growth and stable politics, focused on the industrialization of the country, development, and promotion of foreign investment. This is why the government gives Tax Incentives and Exemptions to businesses that follow certain guidelines. These are some of the incentives that the government promotes to support foreign inversion and the development of the country:

Border Development Incentives

The Dominican Republic is located on two-thirds of an island called ‘La Española’ and the other third of the island is Haiti. Since 2001, the Dominican Republic is promoting the development of the frontier zone with agriculture, tourism, and energy companies in order to generate job positions for people in the area.

Tourism Incentives

The Dominican Republic is an island with amazing touristic attractions that receive visitors from all over the world. Some of the areas and industries of the country are more developed than others, which is why the government offers incentives and tax exemptions to businesses looking into these new opportunities, or interested in further developing already existing ones.

Some of these incentives and exemptions according to the 58-01 Incentive Law are:

• Exemption on Income Tax for 10 years

• Exemption of all national and municipal taxes for 15 years

• Exemption from custom taxes and transfer of import of equipment, industrial goods, and services.

• Exemption of tax on luxury housing

Alternative Energy Incentives

Due to the lack of infrastructure and cost of traditional energy resources in the Dominican Republic, the government works closely with companies that are interested in developing Alternative Energy Resources in the country. Some renewable energy resources are solar power, bio-fuel, bio-diesel, wind, and ethanol, among others.

Free Trade Zones (FTZ) in the Dominican Republic

Free Trade Zones (FTZ) or Special Economic Zones (SEZ) are one of the main ones responsible for the development of the Dominican Republic in the last 40 years. According to the World Bank, “SZEs are geographically bounded areas in which customs, tax, and investment regulations are more liberal than in the rest of the country”.

As of 2016, FTZs were responsible for around 140,000 direct jobs, for both men are women, and in a big variety of types of jobs from low-skilled, to higher, more educated-skill workers.

Some of the main activities taking place in FTZ are:

• Services

• Medical Instruments

• Textiles

• Tobacco

• Agroindustry

Register a Company in the Dominican Republic!

These are the steps you need to follow to register a company in the Dominican Republic. If you want to learn more about the company incorporation process, you can read our article here!

1. Choose the right type of company: This depends on how many shareholders are going to participate, as well as the initial capital. The most common types of companies in the Dominican Republic are:

   • Corporation or ‘Sociedad Anónima’ (SA)

   • Foreign Branch Office

   • Limited Liability Company or ‘Sociedad de Responsabilidad Limitada’ (SRL)

2. Appoint a Legal Representative and sign the Power of Attorney

3. Check for the company’s name availability at the Mercantile Registry

4. Draft the company’s bylaws

5. Pay the incorporation fees

6. Submit the documentation to the Chamber of Commerce

7. Submit the registration documents to the National Taxpayers Registry

8. Open a Corporate Bank Account

Get Assistance from Easyco Experts!

The Dominican Republic is a very attractive country for business and investment purposes and attracts people from all over the world. At Easyco, we can help you register your company in the Dominican Republic and enjoy all the benefits!

Easyco also provides additional services to guarantee your company’s compliance, which includes:

• Appointment of Legal Representation

• Providing a Registered Office Address

• Handling tax and accounting

• Hassle-free Payroll Services

• Manage your Company bank account opening

• Manage your Trademark Registration

• Recruiting and Hiring Talent

• Corporate Legal Services

The post What are the Tax Benefits in the Dominican Republic? appeared first on Easyco.

The Dominican Republic is a country known worldwide as a perfect destination for traveling, vacationing, and tourism. However, this Caribbean country is also a great destination for investors and entrepreneurs from around the world.

According to Doing Business, the Dominican Republic is considered a country in the Upper Middle-income category, with a population of 10 million people. Some of the most successful industries in the Dominican Republic are manufacturing, export, real estate, and tourism. All of these businesses are always in growth and support the development of all sectors of the country.

What are the steps to incorporate a business in the Dominican Republic? Would you like to open a company in 2022? At Easyco, we give you a step-by-step guide on how you can successfully register a company in the Dominican Republic.

1. Decide which type of company suits your business needs the best

   To decide which type of company is the best for your business, it is important to keep in mind the number of members or shareholders, the capital available, and the size of the company. These are some of the most popular types of companies in the Dominican Republic:

   • Corporation or Sociedad Anónima (S.A.): A Corporation only requires 2 shareholders for the incorporation and a minimum capital of 1.00 Dominican Peso (DOP).

   • Foreign Branch Office: For bigger international companies, a foreign branch is ideal since it only requires 1 member to act as a Legal Representative.

   • Limited Liability Company (SRL): This is the most common type of company in the Dominican Republic. An SRL requires at least 2 members and there’s a maximum of 50 members allowed.

2. Appoint a Legal Representative and sign the Power of Attorney

   If your shareholders are not present in the Dominican Republic, a Power of Attorney will be required that allows your legal representative to carry out the process locally. This Power of Attorney has to be signed by the corresponding party.

   Also, consider that for foreign shareholders, additional documentation will be required.

   All documentation that comes from abroad must be duly legalized and apostilled (if applicable). These hard-copy documents must be sent to the Dominican Republic. Finally, consider that documentation that is not in Spanish, will require translations to be accepted by the local agencies.

3. Check for the company’s name availability at the Mercantile Registry

   Once you decide on the right structure for your company and appoint a Legal Representative, it’s time to check for the availability of the company’s name at the Mercantile Registry or Registro Mercantil. This government agency has a database that allows searching for similar names to assure the company name chosen is unique and distinguishable.

   The Mercantile Registry is a service offered by the Chamber of Commerce and Production of Santo Domingo. Its goal is to make it easier for companies in the registration process to promote the formalization of businesses.

4. Draft the company’s bylaws

   The bylaws documentation allows for the constitution of the company in the Dominican Republic. This document is going to work as the backbone of the company and rule the way it is managed. Consider that this document has to include:

   • Company name

   • Information about the Legal Representative

   • Information on the share capital

   • Registered office address

   • Management structure

   • Extinction and liquidation detail plans

   All this information needs to be reviewed by a local lawyer and notarized by a public notary in the Dominican Republic.

5. Payment of the incorporation fees

   To submit all the documents to the Commercial Registry, one is required to pay a couple of fees and taxes. This fee must be paid at the Internal Revenue Service Office (Dirección General de Impuestos Internos) and the Banco de Reservas de la República Dominicana.

6. Submit the documents to the Chamber of Commerce

   The payment of the incorporation fees will allow the company to submit the required documents to the Chamber of Commerce for revision and approval.

   This is the list of documents needed:

   • Signed and notarized bylaws

   • General Constitutive Assembly

   • List of shareholders and their contribution to the company

   • Application Form

   • Receipt of payment of the incorporation fees

   • Copy of business name registration

   It is important that a lawyer prepares and reviews all the documents so they can be approved fast and without any problems. Once approved, your company officially exists.

7. Submit the registration documents to the National Taxpayers Registry

   The company also has to be registered as a tax contributor, the government agency in charge of this is the National Taxpayers Registry or Dirección General de Impuestos Internos (DGII). The DGII will assign a taxpayer ID in the way of a unique identification code, called Registro Nacional de Contribuyentes or RNC for the company according to the nature of the business.

   This process can be done online at the DGII platform and then the physical documents and files have to be sent to their offices. The required documents change according to the type of company that is going to be registered.

8. Open a corporate bank account

   Finally, It is important to choose the right bank according to the company’s needs. Each bank offers different types of accounts with many benefits depending on the agreement and goals of the company. It is recommended that the bank offers good pricing structures for international transactions.

   Also, it is important to consider that some banks may have foreign transaction restrictions for companies that have foreign shareholders. It is crucial to take this into account as part of your company establishment strategy, as identifying a bank that has flexible policies will determine when your new company can start its operations.

At Easyco we can help you successfully register your business!

The Dominican Republic is a country full of opportunities and always looking for foreign investments and companies to continue with economic growth. To make sure you register your company in the right way, you can get in touch with us. Our team of experts is going to make sure you comply with all laws and requirements.

At Easyco, we make company formation in the Dominican Republic easy; our team of corporate experts has vast experience helping companies and individuals register their business in the Dominican Republic, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing a hassle-free online company registration experience. Start your company in the Dominican Republic today!

Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,

• Providing a registered office address

• Handling tax and accounting

• Hassle-free Payroll Services

• Opening of Corporate Bank Accounts

• Manage your Trademark Registration

• Corporate Legal Services

• Talent Acquisition

The post How to Register a Company in the Dominican Republic appeared first on Easyco.