Foreign Investment in Dominican Republic
Strong Guarantees to foreign investors are granted through Law 16-95 on Foreign Investment.
Investment in the Dominican Republic recognizes the both foreign and local investors to have similar rights and obligations in the field of investment. Knowing at the same time that the entry of fresh foreign capital contributes to economic growth and social development of the country as it encourages the creation of jobs.
through the Foreign Investment Law 16-95 Dominican Republic gives special incentives to contributions from abroad, encouraging foreign investors either individuals or corporations even those living abroad, to have properties whether may capital of a company operating or interested in operating in the country.
This law takes into account important issues such as foreign re-investment, which is one that is done with all or part of the profits from foreign investment registered by the same company. Also New Foreign Investment, which is one made with all or part of the profits from foreign direct investment duly registered by a company other than that which has generated the profits.
Corporate Law in Dominican Republic
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What makes the difference in our practice in all matters relating to the incorporation of companies in the Dominican Republic, is that our services are not limited solely to the formation of companies. We offer a broad range of legal and business services such as physical and virtual office rent, which are additional services to facilitate the implementation of business operations in the Dominican Republic. Among them:
1 – Preparation of all internal regulations;
2 – Writing Articles,
3 – Preparation of corporate registration forms,
4 – Presentation of the company registry,
5 – Certificate of incorporation,
6 – Minutes of the meetings of the board,
7 – Office rent physical and virtual
8 – Contracts for employment of personnel,
9 – Resolution to open a bank account,
10 immigration law, residential work,
11 – real estate rental or purchase,
12-Legal representation in general corporate and commercial issues.
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Accepted Forms of Foreign Investment in the Dominican Republic are:
1 – Contributions in Nature. Real estate properties
2 – Contributions in freely convertible currency, in an amount redeemed by an authorized banking institution.
3 – Financial instruments to which the Monetary Board of Dominican Republic attributed the category of investment.
Under this law foreign companies may subscribe contracts for technology transfers to foreign individuals or corporations, such as contracts for the licensing of technology, technical assistance, and technical services, basic and detailed engineering and technological inputs intangible goods, such as brands, models of products or industrial processes or services, technical assistance management and franchising.
The corporate vehicle for doing Foreign Investment varies depending if investments are to be made in the capital of a new or existing business including the establishment of local branches, joint stock companies, investment in real estate located in the Dominican Republic or for the acquisition of financial assets. All of this should go in line with the stipulations of the laws related to them.
These investments must be registered with the Central Bank of the Dominican Republic to obtain the Certificate of Registration of Foreign Investment. To which require the following documents:
A) Request for registration, as all information relating to capital invested in the area where investment has been made:
B) Proof of entry of foreign currency or physical or intangible assets into the country
C) Documents establishing the Commercial Society or the authorization of the operation of branches by setting home.
Both new Foreign investment and Re-investment must be registered with the Central Bank.
Law 16-95 grants the right to repatriate abroad, in freely convertible currency the total amount of capital invested and the dividends declared during each fiscal year, without prior authorization, until the total amount of net profit flows for the period.
Investors may also repatriate under the same conditions, obligations resulting from contracts for technical services where fees are established on the grounds of technology transfer and / or contracts for the local manufacture of foreign brands which include royalties.
Thanks to this law any person either individual or corporation, local or foreign, can be involved in the promotion or management of import, sale, rent or any other form of exploitation or commercialization of goods or products of foreign origin.
Foreign investors may safely invest in the Dominican Republic and enjoy the enormous business opportunities that this offers.