If you’re interested in starting and establishing an appliances sales company in the Dominican Republic, it’s important to follow some key steps: you need to complete the necessary registration procedures to operate legally in the country.
These registrations will allow you to establish and protect your trade name, obtain recognition as a commercial entity, and acquire a tax identification number to fulfill your tax obligations.
Steps to Create an Appliances Sales Company in the Dominican Republic
- Registration of the trade name at the National Office of Industrial Property (ONAPI): The first step is to register the trade name of your company at the National Office of Industrial Property (ONAPI). This registration will grant you exclusive rights to the name and protect you from potential intellectual property infringements by other competitors.
- Obtaining the commercial registration at the local Chamber of Commerce and Production: It’s necessary to obtain the commercial registration at the local Chamber of Commerce and Production. This registration certifies that your company complies with the legal requirements to operate as a commercial entity in the Dominican Republic.
- Obtaining the tax identification number at the DGII: Finally, you must obtain a tax identification number (RNC) at the General Directorate of Internal Taxes (DGII) of the Dominican Republic. This number is necessary to fulfill your tax obligations, such as filing tax returns and paying sales taxes.
Type of company to create an appliances sales company
The choice of the most suitable type of company to create an appliances sales company in the Dominican Republic depends on various factors. In the Dominican Republic, the most common types of companies are:
Limited Liability Company (LLC):
- An LLC is a popular option for small and medium-sized enterprises.
- It limits the owners’ liability to their investment in the company, meaning that their personal assets are generally not at risk in case of business debts.
- It requires an initial minimum capital that must be fully subscribed and paid before registration
Public Limited Company (PLC):
- A PLC is more suitable for larger companies planning to raise capital through share issuance.
- The owners are shareholders whose liability is limited to the amount invested in shares.
- It requires a higher initial minimum capital than an LLC, and it must be fully subscribed, but only 10% must be paid before registration.
There are certain requirements for which you might need professional assistance when opening an appliances sales company. At CONTADORES DOMINICANOS, we can help you create your company or corporation.
