EIRL companies in the Dominican Republic play a significant role in the country’s economy. To establish a Limited Liability Individual Enterprise (EIRL) in the Dominican Republic, certain steps and requirements must be fulfilled, such as registering the trade name and obtaining the tax identification number. Subsequent procedures are then conducted at the Chamber of Commerce and Production.
Additionally, necessary documents must be submitted, including the application form, a copy of the registered trade name, general constitutive information, and bylaws. It is also crucial to comply with tax obligations and settle corresponding taxes.
Limited Liability Individual Enterprise (EIRL)
An EIRL is a business form where an individual exercises economic activity independently. This option suits entrepreneurs who wish to assume full responsibility and control of their enterprise. In an EIRL, the owner’s personal assets are separate from the company’s assets, thereby limiting liability for potential debts.
Steps to Establish an EIRL in the Dominican Republic
Register the trade name with the National Office of Industrial Property (ONAPI)
To complete this registration, follow these steps:
- Perform a preliminary search for existing registrations to ensure the availability of the name or brand to be registered.
- Complete the registration application form provided by ONAPI, including all required data.
- Attach necessary documents, such as copies of the applicant’s ID card, notarized powers of attorney, and other specific requirements depending on the type of intellectual property to be registered.
- Pay the corresponding registration fees.
- Submit the application along with the documents and payment receipt to ONAPI.
Register with the General Directorate of Internal Taxes (DGII)
The following steps are outlined:
- Complete the corresponding form for registration with DGII, providing all required data.
- Attach necessary documents, such as copies of the legal representative’s ID card, notarized powers of attorney, RNC application form, and other required tax documents.
- Pay the corresponding registration fees.
- Submit the application along with the documents and payment receipt to DGII.
Requirements to Establish an EIRL in the Dominican Republic
To establish an EIRL in the Dominican Republic, certain legal requirements and procedures must be met:
Request for the Taxpayer Identification Number (RNC)
Once the trade name registration is obtained, apply for the RNC at the General Directorate of Internal Taxes (DGII). This ensures the company complies with tax obligations and can legally engage in commercial transactions.
Procedures at the Chamber of Commerce and Production
Additionally, procedures must be carried out at the local Chamber of Commerce and Production. These include submitting the company formation application, registering in the Mercantile Registry, and paying corresponding fees and tariffs. The Chamber of Commerce and Production verifies the legality of the company and issues the registration certificate.
Required Documents for Establishing an EIRL
When establishing an EIRL in the Dominican Republic, several documents are necessary:
Application Form
The first essential document is the application form, which must be completed with the relevant information about the EIRL being established. This form includes details such as the company name, business activities to be conducted, and its legal address.
Copy of the trade name registration
This registration is required to ensure that the chosen name for the company is not already in use by another entity.
Bylaws
Bylaws are a fundamental document in the establishment of an EIRL. They establish the internal rules and regulations that will govern the operation of the company, as well as the rights and responsibilities of the owner of the EIRL.
After learning how to create an EIRL in the Dominican Republic, if you wish to establish one, Contadores Dominicanos can assist you in creating your company or society.
