| LLC | Free Zone Company | SLC | PLC | Branch Office | Rep Office | |
|---|---|---|---|---|---|---|
| Local Name | SRL | Empresa de Zona Franca | SAS | SA | Sucursal | Oficina de representación |
| Company Setup Time | 15 days | 20 days | 30 days | 35 days | 30 days | 30 days |
| Bank Account Opening | 15 days | 15 days | 15 days | 15 days | 15 days | 15 days |
| Government Grants Available | Yes | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | Yes | No | No |
| Legal Liability | Yes | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
The Dominican Republic limited liability company (SRL)
- One of the best options for new companies is the establishment of a limited liability company in Dominican Republic. There is a requirement of minimum USD 2,300 (DRD 100,000) paid-up capital. It needs at least one director, who shall be an individual person and one shareholder, who can be a local or an international citizen. The shareholder can be an individual or a corporate entity and they shall not be necessarily a resident of the Dominican Republic.
- There is a requirement of submission of yearly financial statements to the tax officials for Dominican Republic LLCs. There is no need to appoint a legal auditor, yet the company shall submit yearly audited accounts.
The simplified limited company in Dominican Republic (SAS)
- The SAS in Dominican Republic is a corporate entity which is used by the new businesses who are keen to raise funds in the country, as the rules of the share issuance are less limiting as compared to the limited liability companies. Incorporation of a SAS needs a minimum of one director and two shareholders who shall be an individual person or a corporate structure. The directors and shareholders can be local or a foreign resident. For the incorporation purpose the authorized share capital the entity shall be USD6,800 (DOP300,000), out of which 10% shall be paid-in at the bank account of the Dominican Republic business entity.
The Dominican Republic public limited company (SA)
- The public limited company in Dominican Republic has a requirement of a minimum of two shareholders who may be an individual or a corporate entity for the incorporation of the company. An SA shall appoint a minimum of three directors who can be an individual or a corporate body and may be a local or foreign resident. A SA needs a share capital of USD 68,000 (DOP 3,000,000), out of this amount 10% of this shall be deposited in at the time of registration.
- The company’s shares of this entity may be transferred to 3rd parties without restrictions. Anyhow, the PLC must appoint a legal auditor.
The Dominican Republic branch (sucursal)
- As per the rules of Dominica Republic the foreign companies who are intending to register their setups in this country are allowed to open their branch offices. The operational scope of the entity shall be set by its holding corporation. The Dominican Republic branch office shall appoint a minimum of 1 individual, who can be a local or international citizen as the legal agent in the Dominican Republic.
The representative office in Dominican Republic (oficina de representacion)
- The international organizations are allowed to set up their rep office in the Dominican Republic but this office shall not involve in any commercial operations in Dominican Republic. A rep office, just like a branch shall appoint at least 1 resident representative who can be a local or international citizen. The entity can conduct in,
- Market survey and research, and
- Marketing and promotions of the goods and services of the holding company