What Encourages Investors to Start Investing in the Dominican Republic?
- Dominican Republic is a unique market for investors.
- Political and economic stability in the country.
- It ranks second in Latin America and the Caribbean in terms of infrastructure, logistics and telecommunications.
- It has one of the largest growth rates in Latin America.
- The largest recipient of foreign investment in the Caribbean region.
- It has the lowest inflation rate in Latin America and the Caribbean.
- The country has a competitive and qualified workforce.
Procedures to Establish a Company in the Dominican Republic
- Choosing a name for the company.
- Determining the size, purposes and the capital of the company.
- Paying fees and taxes.
- Preparing and signing company documents.
- Registration of company documents in the business register.
- Company registration in the Internal Revenue Agency.
- Registering the company with the tax authority.
- Opening a bank account.
Also read: A Simplified Definition of Commercial Law
Types of companies in the Dominican Republic
Limited Liability Company
It consists of two partners at least and fifty partners at most. The minimum capital for this type of companies is one hundred thousand Dominican Pesos, which is equivalent to two thousand Canadian dollars.
Sole-Proprietorship Limited Company
It consists of one person who manages all the work of the company, and there is no minimum capital required.
It consists of at least two partners and there is no minimum number of partners required. The minimum capital is thirty thousand Dominican Pesos, which is equivalent to six hundred Canadian dollars.
It consists of at least two partners and there is no minimum number of partners required as well. The minimum capital is three million Dominican pesos, which is equivalent to sixty thousand Canadian dollars.