Dominican Republic Company Registration Services by Venture Overseas
The Dominican Republic company registration may seem challenging but let us guide you through it with our professional experience.
Dominican Republic Company Registration Procedures
The Dominican Republic company registration procedures take up 18 days and involve a number of pre and post-registration steps.
1. Verify company name
Business founders must verify the availability of the name before they buy it. This can also be done as an online procedure at the Dominican Republic National Office of Industrial Property (ONAPI) government website.
2. Purchase of the company name
After approval, the National Office of Industrial Property (ONAPI) will issue a formal name certificate within 5 business days. Announcement of the company name will then be published in a national circulation newspaper and protests against published company names may be lodged within 45 days. The publication receipt is required for Dominican Republic company registration in later steps.
3. Payment of the incorporation tax
This needs to do in person at the Internal Revenue Service Office (Dirección General de Impuestos Internos) and Banco de Reservas. Incorporation tax is paid by cashier’s checks (Cheques de Administración) issued to the Internal Revenue Collector. Then, certified checks are no longer allowed.
4. Register the company in the Chamber of Commerce
Dominican Republic company registration is done at the Chamber of Commerce at the Mercantile Registry. It can also be done online through their government website. A set of documents will need to be filed before the Dominican Republic Company Incorporation process can proceed.
The following documents have to be filed:
- Signed company bylaws
- General Constitutive Assembly with its corresponding list of Associates
- Distribution list of each associate’s investment to the company and corresponding corporate quotas amounts
- Application form for company registration that has been duly completed and signed by the authorized manager, or agent (attach original power of attorney, if applicable)
- Receipt of payment for incorporation tax
- Photocopies of identification card
- Copy of business name registration certificate
5. Obtain the identification number
The company will then need to register as a tax contributor at the RNC (Registro Nacional del Contribuyente). Documents also need to be submitted and within 5 working days, the DGII checks the information and notifies the company of their identification number (RNC). The Sequence of the Fiscal Invoice Numbers (Sequencia NCF) will then be automatically applied for.
6. Register employees with the Department of Labour and Social Security Office
The company will need to fill out form DGT-3 within the first week of employment. The form can be found at a local department of labour office. Then, a list of permanent personnel, employee work schedules and vacation periods must also be provided
Employers are legally required to register employees at the Social Security National Treasury (Tesorería Nacional de la Seguridad Social, TNSS) within 3 days of hiring them or upon the start of business. Also, this procedure can be done at the TNSS website online at their office.
Contact Us Today
Interested in company registration in the Dominican Republic?
You’ve come to the right place. We are also professionals in assisting businesses to venture overseas. Contact us today and let us help you expand into greater heights.