NewsWhore
02-15-2011, 03:10 PM
There is a new legal structure for companies with assets of RD$3 million or more, and the RD$100,000 deposit requirement for company formation has been lifted, among other changes.
President Leonel Fernandez signed Law 31-11 that modified Company Law 478-08 and incorporated a new simplified form to be known as the Simplified Corporation (SAS).
Companies in the DR have 180 days to complete structural modifications. The other forms are limited liability companies (Sociedad de Responsabilidad Limitada or SRL), sole proprietorships (Empresa Individual de Responsabilidad or EIRL), Large Standard Corporations (Sociedad Anonima or SA) and now the Simplified Standard Corporation (Sociedad Anonima Simplificada).
Laura del Castillo, technical deputy director at the National Competitiveness Council, told Listin Diario that the new structure seeks to makes it easier for medium-sized businesses to establish themselves. Previous SA formation required assets of RD$30 million.
More... (http://www.dr1.com/index.html#10)
President Leonel Fernandez signed Law 31-11 that modified Company Law 478-08 and incorporated a new simplified form to be known as the Simplified Corporation (SAS).
Companies in the DR have 180 days to complete structural modifications. The other forms are limited liability companies (Sociedad de Responsabilidad Limitada or SRL), sole proprietorships (Empresa Individual de Responsabilidad or EIRL), Large Standard Corporations (Sociedad Anonima or SA) and now the Simplified Standard Corporation (Sociedad Anonima Simplificada).
Laura del Castillo, technical deputy director at the National Competitiveness Council, told Listin Diario that the new structure seeks to makes it easier for medium-sized businesses to establish themselves. Previous SA formation required assets of RD$30 million.
More... (http://www.dr1.com/index.html#10)