Establishing a general partnership in the Dominican Republic requires following specific steps, requirements, and procedures. This includes registering and verifying the company’s trade name with ONAPI and paying the corresponding tax at the Dirección General de Impuestos Internos (DGII).
Additionally, the required documentation must be submitted to the Chamber of Commerce and Production, including the company’s bylaws and the Constitutive General Assembly.
General Partnership
A general partnership is characterized by a company name composed of one or more partners’ names followed by “and company” or its abbreviation, if not all partners’ names are included.
Responsibilities of Shareholders in a General Partnership:
- Shareholders share the company’s profits and losses as stipulated in the partnership agreement.
- Shareholders have joint liability, meaning all shareholders are equally responsible for the company’s debts and obligations.
- All partners can take on an administrative role in the partnership.
Steps to Establish a General Partnership in the Dominican Republic
- Register and Verify the Company’s Trade Name with ONAPI: The registration and verification of the company’s trade name is a crucial step in forming a general partnership in the Dominican Republic. This involves following the registration process at the Oficina Nacional de la Propiedad Industrial (ONAPI).
- Pay Taxes at the Dirección General de Impuestos Internos (DGII): The tax for company formation must be paid at the DGII. This payment is required before proceeding with the subsequent steps in the company formation process.
- Submit Required Documentation to the Chamber of Commerce and Production: The necessary documentation must be submitted to the Chamber of Commerce and Production, which includes the company formation application, proof of tax payment for company formation, and the company’s bylaws.
- Obtain a Tax Identification Number: A tax identification number is essential for establishing a general partnership in the Dominican Republic. Obtaining this number requires completing a tax registration application form and presenting copies of relevant documents.
General Partnership Requirements
To establish a general partnership in the Dominican Republic, certain legal requirements and procedures must be met:
- Drafting Bylaws: The bylaws of a company in the Dominican Republic are fundamental to its legal constitution, as they establish the provisions and regulations that will govern the internal functioning of the partnership.
- Registering a Legal Representative: The legal representative acts as the company’s legal responsible party and represents the company in all commercial and legal transactions.
- Capital: The company’s capital must be specified in the bylaws.
Required Documents for Establishing a General Partnership
- Personal identification of the partners or shareholders.
- Certificate of commercial registration.
- Partnership agreement.
- Company bylaws.
- Constitutive assembly minutes.
- Proof of tax payment for company formation.
- Copy of the National Taxpayer Registry (RNC) for the partners or shareholders.
Now that you understand the process of establishing a general partnership, if you wish to form a general partnership in the Dominican Republic, Contadores Dominicanos can assist you in creating your company or partnership.
