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How to incorporate a company in the Dominican Republic

Starting a busines outside the home country is a challenge, specially because we don’t know exactly how their businesses culture is and how their laws really work.

Dominican Republic is a wonderful and beautiful country that has also become a destination for digital entrepreneurs to become their business headquarters, but also entrepreneurs must understand how to incorporate a company there.

Keep reading some tips that you might have in consideration if you want to start a business in Dominican Republic.

How to incorporate a company in the Dominican Republic
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Why start a business in Dominican Republic?

According to the Doing Business portal, Dominican Republic is a country that has a ranking of 112 on starting a business. The most proficient rankings are shown in the areas of dealing with construction permits, registering property and trading across borders.

It has become one of the main destinations for digital entrepreneurs, because Dominican Republic has outsanding landscapes and great weather to be living in.

As there is a change in how businesses are done digitally, digital entrepreneurs are aiming for countries like Dominican Republic where cost of life is lower than their home countries and where they can combine both their passions and professional experiences.

But as digital entrepreneurs aim to legally constitute their organizations, it is common to ask how to incorporate a company in Dominican Republic.

Fortunately, for the legal paperwork there are already an entrepreneurial ecosystem with an accounting firm in Santo Domingo that is supporting digital entrepreneurs to start their new venture in Dominican Republic.

Dominican Republic

Entrepreneurs are good at their hustle, but for their legal obligations as well?

And yes, entrepreneurs might know eveything about their industry, about the latest trends that can help new customers, but do they have to know how to incorporate a company in Dominican Republic step by step?

As it is commonly mentioned by mentors, entrepreneurs must gather a team so that they can take leverage in their expertise.

An so it can be in Dominican Republic, by contacting a company introduction service that can start helping the entrepreneur and decide which can be the best legal form to be registered.

The entrepreneur has to decide if he wants to register in Dominican Republic as Limited Liability Company, Individual Limited Liability Company, Public Limited Company, Simplified Corporation, Company in Collective Name, Limited Partnership or Limited joint-stock company.

And this can be confusing to select which one is the proper one for the digital entrepreneur.

What is recommended for entrepreneurs?

Selecting among the diferent forms of business entities that exist in Dominican Republic is not as complicated as all the names might sound.

Most of the countries of the world have the same types of structures.

For solopreneurs, is of course recommended to have an Individual Limited Liability Company, therefore he or she can separate the business assets with his personal properties.

This way, the solopreneur can act as a business from Dominican Republic having the peace of mind that the responsabilities are of the created corporation.

If there are other needs that entrepreneurs might have, it is also recommended to be assisted by accounting services that can support him or her with the legal accounting files that will be required for the business operations.

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