Establishing a Sociedad de Responsabilidad Limitada (SRL) in the Dominican Republic involves following a series of steps, requirements, procedures, and document submissions.
These steps include registering the trade name with ONAPI, paying taxes to DGII, submitting documents to the Chamber of Commerce, drafting bylaws, and appointing a legal representative. Additionally, compliance with legal and tax requirements established by Dominican laws is essential.
What is an SRL in the Dominican Republic?
SRL companies in the Dominican Republic are a business form where two or more individuals or legal entities join together to engage in economic activities jointly. This choice is suitable when entrepreneurs wish to share responsibility and decision-making within the company.
Steps to Establish an SRL Company in the Dominican Republic
Register the trade name with ONAPI
The first step to establish an SRL in the Dominican Republic is to register the trade name with the National Office of Industrial Property (ONAPI). This registration ensures exclusive use of the trade name and provides legal protection to the company. An application must be submitted, complying with ONAPI’s requirements.
Pay company formation tax at DGII
The next step is to pay the company formation tax at the General Directorate of Internal Taxes (DGII). This payment is mandatory to comply with tax regulations. You must obtain the corresponding form and pay the tax according to the subscribed and paid-up capital of the company.
Submit documents to the Chamber of Commerce and Production
Once the name is registered and taxes are paid, certain documents must be submitted to the Chamber of Commerce and Production of Santo Domingo. These documents include:
- The trade name registration from ONAPI.
- The company’s bylaws.
- A list of associates.
- Details of shareholders’ investments and identification documents, among others.
It is important to gather all necessary documents and submit them correctly.
Requirements to Establish an SRL Company in the Dominican Republic
Establishing an SRL in the Dominican Republic requires meeting several requirements established by current laws and commercial norms:
Drafting the company’s bylaws
The company’s bylaws are a crucial step in establishing an SRL in the Dominican Republic. These bylaws act as the legal constitution of the business and establish its structure and business activities.
Appointing a legal representative
This legal representative will be responsible for handling procedures, submitting documents, and ensuring compliance with all legal obligations. Their role is essential to ensure that the establishment process is carried out properly and complies with all regulations.
Compliance with current laws and commercial norms
This involves understanding and adhering to the General Law of Commercial Companies and Individual Limited Liability Companies, No. 479-08, as well as amendments established by Law No. 31-11.
Minimum social capital
The minimum social capital required to establish a limited liability company is 100,000 Dominican pesos.
Procedures and documents required to establish an SRL in the Dominican Republic
Documents required for Mercantile Registry
To initiate the process of establishing an SRL in the Dominican Republic, certain documents must be submitted to the mercantile registry of the corresponding chamber of commerce. These include:
- Application form for mercantile registry.
- Copy of the company’s bylaws.
- Copy of the ID document of shareholders, members, or managers.
- Trade name registration of the company.
- Receipt of payment of taxes for the formation of the Dominican company.
Process of paying taxes at DGII
Once the mercantile registry is completed, the registration of the Taxpayer Identification Number (RNC) must be carried out at the General Directorate of Internal Taxes (DGII). This process involves submitting the following documents:
- RNC application form.
- Copy of the company’s trade name registration.
- Copy of the mercantile registry.
Certain requirements may necessitate professional assistance when opening an SRL company; Contadores Dominicanos can assist you in creating your company or society.
