To establish a Simplified Stock Company (S.A.S) in the Dominican Republic, several steps must be followed, and various documents must be presented.
The company name must be registered with the National Office of Industrial Property (ONAPI), and legal documents must be filed with the Chamber of Commerce and Production. Additionally, a National Taxpayer Registry (RNC) must be requested from the General Directorate of Internal Taxes (DGII).
Simplified Stock Company (S.A.S)
The Simplified Stock Company is characterized by the fact that the shareholders are only liable for the amount of their contributions. It also has the autonomy to freely specify its own rules and regulations.
Steps to Create an S.A.S Company in the Dominican Republic
Register the Company Name with the National Office of Industrial Property (ONAPI)
In the process of establishing a company in the Dominican Republic, it is vital to register the company name with ONAPI. This registration guarantees the exclusivity and legal protection of the chosen name.
Register Legal Documents with the Chamber of Commerce and Production
Once the type of legal entity is determined, it is necessary to register the legal documents with the corresponding Chamber of Commerce and Production.
Pay Company Formation Tax
This tax is mandatory and must be paid to legalize the company and comply with all legal requirements.
The amount of the company formation tax varies according to the company’s capital and is calculated using a fixed rate established by the DGII.
To pay the company formation tax, you must go to the DGII and present the following documents:
- Copy of the legal documents registered with the Chamber of Commerce and Production.
Requirements to Establish an S.A.S Company in the Dominican Republic
Draft the Company Bylaws
One of the fundamental requirements for registration with the Chamber of Commerce and Production is drafting the company bylaws. These bylaws are a set of rules that govern the company’s operations and establish the rights and obligations of the shareholders.
Prepare the Constitutive Assembly Minutes
The Constitutive Assembly Minutes is another necessary document. This document is drafted and signed by the founding shareholders, stating the intent to establish the company and approving the company bylaws.
Attendance List
The attendance list certifies the presence of the founding shareholders at the Constitutive Assembly. It records the names and signatures of the attending shareholders, aiming to certify the legality and validity of the agreements made during the assembly.
Minimum Capital Requirement
The minimum capital required to establish a simplified stock company is three million Dominican pesos.
Documents Required to Establish an S.A.S Company
When establishing an S.A.S company in the Dominican Republic, the following documents are required:
- Application Form: To request the National Taxpayer Registry (RNC), you must complete a form provided by the DGII. This form collects key information about the company, such as identification data, type of legal entity, and commercial activity.
- Copies of Previously Registered Documents: In addition to the application form, copies of previously registered legal documents, such as the company bylaws, Constitutive Assembly Minutes, and attendance list, must be attached. These documents are necessary to support the information provided in the application and verify the company’s legality.
Once the form is completed and the required copies of documents are attached, the application must be submitted to the DGII. It is essential to follow the instructions provided by the entity and ensure compliance with all requirements and deadlines.
After the application is approved, the National Taxpayer Registry (RNC) will be granted, serving as the company’s tax identification number. This number will be used for tax procedures and compliance with tax obligations in the Dominican Republic.
Now that you know the steps to create an S.A.S company, if you want to establish a Simplified Stock Company, at Contadores Dominicanos we can help you create your company or corporation.
