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Doing Business in Dominican Republic
 
 
 

STARTING A BUSINESS

STANDARDIZED COMPANY
Legal Form: Sociedad por acciones
Minimum Capital Requirement: 1,000
City: Santo Domingo

Registration Requirements:

Procedure 1. Deposit the 10% paid-in capital in the bank

Time to complete: 1 day

Cost to complete: no charge

Procedure 2. Obtain Certificate of Availability of the proposed company name from the National Industrial Property Office (ONAPI)

Time to complete: 2 days

Cost to complete: DOP 370

Comment: After the name is approved, the company has 30 days to apply for a formal Certificate of Registry with the Secretary of State for Industry and Commerce. If the name is approved a certification of approval of the name is issued by the National Office of Industrial Property once the name was published in the special supplement of ONAPI. Due to a formal administrative resolution from the National Property Office, the formal name application has been reduced from 8 working days to 48 hours.

Procedure 3. Arrange for the publication of the company name in the monthly publication of the National Office of Industrial Property

Time to complete: 10 days

Cost to complete: DOP 925

Comment: The publication would then be published in a national circulation newspaper within approximately 10 days. The National Office of Industrial Property publishes the list business/corporate names requested and their petitioners, twice per month.

Procedure 4. Obtain a Certificate of Name Registry from the State Secretariat for Industry and Commerce (Secretaria de Estado de Industria y Comercio)

Time to complete: 60 days

Cost to complete: DOP 3375

Comment: The registration of company's name is composed of several phases which involves searching s for availability (procedure 2, 4 days to process), formal registration request (1 days to process), publication of company name in the National Industry Property Office monthly publication (10 days to process), and issuance of Formal Registry Certificate (45 days). If there are no third parties oppositions to the registration of the trade name within 45 days after the publication is published. The Secretariat of State for Industry and Commerce registers the name and issues a Certificate of Registry usually within 15 days within 55 days after the opposition term. The process of obtaining the trade name certificate of registration takes up to 120 90 days. However, one may proceed with the process of incorporation of the company upon the filing of the application for registration of the trade name.
Costs: Formal Registration Request - RD$3,006375.00
National Industrial Property Office publication: RD$925.00 (included in proc. 3)


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