Country: Dominica Nationality: Dominican Continent: North America Region: Americas Subregion: Caribbean eu member?: false UN Code: DM Start of Week: monday currency code: XCD languages official: en Juridiction: Dominican Republic


From above the skyline, Punta Cana looks like a tropical paradise. In fact, in recent years this Dominican town has aroused one of the top tourist destinations in the Caribbean, a place where exotic beaches merge with a world class infrastructure.

But tourism needs more than just nice beaches in order to thrive. It needs things like political stability, security for tourists and a business-friendly climate. Dominican Republic exceeds these aspects.

That’s the reason why this Caribbean country has become one of the top countries for investors who want to start making business in paradisiac destinations. DR is the leading country in terms of foreign investment in Latin America. Now it is experiencing a real investment boom: $ 2.84 billion in 2020, up to 10% when compared to 2019.

So if you are an investor who is looking for investment opportunities overseas, you have come to the correct place.

Country site url: Visit site

Companies and Structures

Dominican Republic is one of the best countries to do business in the Caribbean, a place where you will find a flourishing real estate market and a thriving tourism industry.

That’s why Dominican Republic has aroused as one of the principal sources of Foreign Direct Investment in the Americas. For foreigners who are looking for new ways to do investment, it is vital to have the proper advice when establishing a company in the Dominican Republic.

In a nutshell, why should you create a company in the Dominican Republic?

  • A strategic position in the Caribbean. DR is equidistant from Miami and Panama.
  • Free access to the American and the Central American market thanks to Free Trade Agreements.
  • A friendly business environment, fostered by a democratic government.

Dominican Republic is the main destination for FDI in the region. Thanks to our wide network of experts, we have created for you the ultimate guide for establishing a corporate structure in the Dominican Republic:

Corporate Structures in Dominican Republic

When entering to Dominican Republic, a foreign investor may have a dilemma when choosing what kind of commercial presence they want to have in the country.

Depending on your case, you could select a joint stock company or an LLC. However, in order to clear doubts we will explain to you all types of companies that you can establish in Dominican Republic.

Limited Liability Company (LLC)

This type of company is popular when you create a small business because the minimum social capital is really low compared to other commercial entities. In spanish is called “Sociedad de Responsabilidad Limitada (SRL)” and is required to have between two (2) and fifty (50) shareholders which can be individuals or legal entities.

It’s not required that the shareholders are based in Dominican Republic, so they can have local or foreign domicile. The minimum share of capital must be at least DOP 100,000 (1750 USD).

LLCs are required to be managed at least by one (1) director. Law stipulates that this type of company is required to file annual financial statements to Dominican authorities, as well to be subdued to an annual audit.

Simplified Limited Company

This is translated from the spanish “Sociedad Anonima Simplificada (SAS)” and is commonly used when looking to raise capital. So on, it’s one of the most used legal entities for company incorporation in DR. So if you are a startup which is looking to be the next unicorn in Latam, this is your optimal type of company.

Simplified Limited Companies require at least two shareholders, which can be national or foreigners and can be individual or legal entities. The liability of shareholders is limited for their capital contribution. SAS requires to be managed by at least one (1) director.

However, establishing this type of company is more expensive, as it requires a minimum capital of DOP 3 million (52600 USD). Furthermore, law establishes to be paid a one-time fee of 10% of the initial share capital.

Joint Stock Company or Limited Company

In Spanish “Sociedad Anonima (SA)”, this type of company typically is used by larger sized businesses that would participate in the stock market, as it establish freely transferable shares which can be offered in the stock market

It requires a minimum of two (2) shareholders, who can be foreigners or national and individuals or legal entities. A SA needs at least three (3) directors who will manage and lead the company. The minimum capital is DOP 30 million (526,000 USD)

Simplified Joint Stock company

Among all these options, you may be asking which one fits the best for your needs. Well, that question may be better answered after a consultancy. Right now, we will tell you all you need to open a company in this country.


In Spanish called “Sucursal” and is a great option for multinational companies who want to establish in DR. This alternative has excellent benefits regarding reputation, engagement with third parties and banking. A branch needs to have at least one representative in the Dominican Republic

Among all these options, you may be asking which one fits the best for your needs. Well, that question may be better answered after a consultancy. Right now, we will tell you all you need to open a company in this country.

Step by Step: How to Open a Company in Dominican Republic

The process of creating a company in Dominican Republic is pretty much the same for all types of legal entities. You must know that all the documents must have their certified translation. Below, you will find all the steps you need to follow in order to set up a company in the Dominican Republic.

  1. First of all, you need to check at the National Office of Industrial Property (English for Oficina Nacional de la Propiedad Industrial) that the name you want to choose for the company is available.

  2. After that, the name must be purchased and published in the monthly publication of the office named above. The process can take up to 10 days.

  3. Register the company at the Chamber of Commerce (Camara de Comercio). This process must be completed by a local resident. You have to pay an incorporation tax to the Internal Revenue Service of 1% of the initial social capital. After it is done, the identification number (RNC) will be yours.

  4. The next step is to file for the national Taxpayers Registry at the DGII and apply for fiscal receipts, being those receipts indispensable to invoice clients. The DGII will check that the company is real and has a domicile in DR so it can allow the company to operate in the country.

  5. In case your company has employees, you must register it at the Department of Labour. This step can be completed online or in person. Also you have to register your employees at Social Security.

The whole process for creating a company in Dominican Republic can be completed from 30 to 45 days, depending on the duration of each step.

What Can We Do for You?

In Privatus Maximus we are on a permanent pursuit of financial freedom.

Dominican Republic has aroused as one of the main spots for FDI in the last years in the Caribbean. You can enter right now to this country that offers tons of opportunities for investment. With our expertise in corporate structures, we can advise you to create your own company in the Dominican Republic.

Banking Services

Dominican Republic is one of the best places to visit and do business in the Caribbean. Its sunny weather, friendly business climate and perfect location on why this Caribbean country is an ideal place to move.

On our Dominican Republic Country Page, we have already covered how to set up a company, what an expat’s life looks like and some of their highly potential investment projects. Now we will tell you everything you need to know about a key issue: Bank accounts.

Bank accounts are a vital asset in modern life. It allows us to pay bills, take credits, process payments and many other things. If you want to move to Dominican Republic you will need a bank account based on DR pesos in order to simplify transactions. However, its possible to open accounts in US dollars and euros.

First of all, most Dominican banks allow foreign nationals to open a bank account in the country with their current passport or ID card and a letter of reference from their current bank. You don’t even need to be a permanent resident in the country.

Below, we will tell you everything you need to know to open a bank account in Dominican Republic as a foreigner.

Banking in Dominican Republic

Dominican Republic welcomes millions of tourists every year and is the main destination in Foreign Direct Investment in the Caribbean. The country is open to foreign cultures and investors and the Banking sector is not the exception. Foreign banks like the Canadian ScotiaBank, the American Citibank or the Venezuelan Banesco have operations and a wide network of branches in the country.

Commonly, most people use national banks such as Banreservas, Banco Popular or Banco León. Most banks operate between 9:00 a.m. and 5:00 p.m. local time and have modern internet banking services, which allow you to make transactions and payments on the bank’s platform. International transfers are available within 24 hours.

Local currency is Dominican Peso (RD$) and most current accounts are based on it. However, many banks offer the possibility to open savings accounts in US dollars (USD) and Euros (EUR).

Each entity has its specific set of products and services for their target. However, most banks offer the possibility to open the following type of accounts:

  • Personal Current account

  • Personal Saving account

  • Corporate Current account

  • Business accounts (Dollars and euros)

Many banks have lines of credit for business at a very favorable rate (on average 5-6% instead of the usual 9%)

Set up a bank account in Dominican Republic

Creating a bank account in DR is a simple process that can be done in just a couple of days for individuals or a few weeks for companies. The process depends on each bank and if the customer is an individual in a company. Below we will give you in detail all the requirements for both cases:

Bank accounts for foreign individuals

Any foreign non-resident individual that wishes to create a bank account on the Dominican Republic, must present the following requirements in a local bank:

  • Copy of the passport that includes the ID and entry and exit stamp.

  • Copy of a certificate that states migratory status emitted by the Migration Department if the individual is a tourist, a student or a worker. Diplomats must present an ID emitted by the Ministry of Foreign Affairs.

  • An additional identification document (could be a Driver’s license).

  • Tax return on the applicant’s country of origin.

  • Bank and commercial references, if needed.

  • Depending if the applicant is a businessman, an independent or a non-independent worker, he or she documents that certifies his or her income.

You may also note that if the individual is a resident, he or she will need a copy of a certificate that states migratory status emitted by the Migration Department if the individual is a tourist, a student or a worker. If the individual is a resident and has been living more than six months abroad, he or she may need a tax return on the applicant’s country of origin.

Independent workers in addition will need:

  • Constituent documents for the company and certificate of registration

  • Tax return on the applicant’s country of origin.

  • Bank and commercial references from country of origin

All documents must be apostilled and have a certified translation if they were not written in Spanish or English.

Bank accounts for foreign companies

Before opening an account, the company must be legalized in the Dominican Republic. That is, to go through a procedure similar to the opening of a company in the Dominican Republic, described in the Corporate Structures section.

At the same time, a certified translation of all constituent documents into Spanish is required, which costs an average of $ 25-30 per page.

It is much easier and cheaper to open a subsidiary in the Dominican Republic.

Therefore, if the issue of the presence of a company under the same name as in the home country is not urgent, the opening of a subsidiary company looks preferable. Also from the point of view of tax reporting in accordance with international standards.

After the company is legalized in Dominican Republic it must present the following requirements in a local bank:

  • Copy of the Constitutive Act

  • Copy of the Bylaws

  • Copy of the list of partners or shareholders

  • Copy of the Certificate of Incorporation, issued by the equivalent office to the Dominican Ministry of Industries and Trade.

  • Document of the assignment of the equivalent numbering to the National Taxpayer Registry (RNC) in your country of origin.

  • Confirmation on the DGII portal of the numbering of the National Taxpayer Registry (RNC).

  • Copy of the Commercial or Industrial License 6obtained from the Ministry of Industry and Trade, as a product of the registration of the company in our country.

  • An organizational structure that states the role of the directors, Chief Officers and shareholders.

  • A certificate that states the authorization to open an account in Dominican Republic, in accordance with the company bylaws.

  • Copy of the identity documents of the partners, the main shareholders, Directors and senior officers.

  • If required, copies of financial statements.

All documents must have a certified translation if needed (not in Spanish or English) and be apostilled.

What can we do for you?

Dominican Republic is the main destination for Foreign Direct Investment in the Caribbean, a melting pot where Caribbean, American and European cultures merge to form a unique combination.

Whether you wish to move or expand your company operations to this Caribbean paradise, you will need the best experts in the field. In Privatus Maximus we have developed a wide network of experts, including in Dominican Republic.

For this Caribbean paradise, our services include:

  • Opening a bank account.

  • Create a company

  • Invest in Real Estate projects.

  • Getting residence and citizenship

Our partners are a long standing consulting firm in DR. They can advise you in every step of the process of creating a bank account, setting up a company, investing in highly profitable investment projects and much more.


Living in Dominican Republic allows you to have an extraordinary way of life: paradisiac beaches, world class resorts and warm weather, all this at a lower cost than other islands in the Caribbean.

However, this country has much more to offer than paradisiac beaches and a great business-friendly climate. There is a possibility to obtain a Dominican Republic passport in just two years, thanks to one of the fastest “citizenship by investment” program in the Caribbean.

After reading the great investment opportunities, the possibility to obtain a Dominican passport in just two years and the high standard of living for expats in Dominican Republic, you may be asking how to become a permanent resident in this caribbean country.

In Privatus Maximus Expert we have prepared the ultimate guide to become a permanent resident in DR. In a nutshell:

  • Most visitors to DR are permitted to stay up to 30 days in the country as tourists. This includes visitors from the European Union, the US, Mexico and Canada.
  • There are two main steps to become a resident in DR: Temporary residence and permanent resident. Each step requires about six months to complete.
  • Temporary residence allows you to stay in Dominican Republic for up to one year. Permanent residence cards need to be renewed from two to ten years.
  • There is a fast track to residency designed for expats and investors. Expats need to justify a monthly income from USD 1,500 (Pensionado Visa) to 2,000 (Rentista). Investors need to register a legal entity in DR with a capital of at least USD 200,000.
  • After four years of permanent residence you may be eligible to become a DR citizen. This process can be shortened if you have applied to the Investor Visa.

Attention Investors & Expats: A fast track to residency

Yes. DR has created a fast track program towards residency. Instead of waiting two years to pass from temporary to permanent resident, you can begin this process without actually having an amount of time living in the country. This program was designed for investors, pensioners and expats. We´ll explain you below everything you need to do:

Investor Visa

Investors are given the right to obtain permanent residency in a year from the date of receipt of residence permit and six months after the residence permit to apply for citizenship. This is a huge advantage over the usual procedure of obtaining citizenship that takes more than eight years.

The procedure of obtaining a residence permit for investors does not differ from the usual, on average, it is obtained within four to six months. However, the list of essential documents also includes:

The Certificate in Investor Relations, to obtain it you need to register a company (legal entity) in the Dominican Republic with the authorised capital of at least 200,000 dollars and transfer to its account at least 200,000 dollars from foreign sources:

*The authorized capital does not have to be paid in real money, but you must pay a one-time tax on this amount that is about 4%.

**The availability of funds is confirmed by a bank reference that money came from foreign accounts and its origin is legal.

If all the conditions are fulfilled, the Chamber of Commerce Investment Department issues the Certificate in Investor Relations to the client

  • Passport valid for a minimum of (18) months.
  • Residence Visa (RS).
  • Letter of Incorporation into the Foreign Investment Program.
  • Certified Certificate of Foreign Investment.
  • Birth Certificate, original.
  • Four (4) recent photographs in a 2×2 format: two (2) front and two (2) right profile.
  • Certificate of No Criminal Record of the country where you have resided in the last five (5) years.
  • Marriage certificate or declaration of singleness, depending on the case.
  • Guarantee policy contracted with Dominicana de Seguros, the insurance company authorized by the Inmigration Department.
  • Medical examinations expedited by an institution certified by the Inmigration Department.

*All documents must be apostilled, notarized and have a certified translation to Spanish.

Applicating costs RD$30,000.00 (USD 526) for both adults and children under 10 years old. Medical examinations cost RD$ 3,000 (USD 52,6). The Deposit of investment record CEI-RD costs RD$2,500.00 (USD 43,88)

Pensionado Visa

This visa is available to pensioners. In order to apply, you will need to provide the documentation required above and prove that you receive a pension of at least USD 1500 a month. If you have a dependent you’ll need another USD 250

Applicating costs RD$22,000.00 (USD 396) for both adults and children under 10 years old. Medical examinations cost RD$ 4,500 (USD 81). The Deposit of investment record CEI-RD costs RD$2,500.00 (USD 43,88)

Rentista Visa

This visa was designed to rentiers, people that receive a monthly income by renting out a property abroad. The minimum monthly income you receive by this property must be at least USD 2,000.

This visa grants a two years permanent residence and can be easily renewed. Application costs and medical examinations are the same as the Pensionado Visa.

The Path to Citizenship

There are two paths for obtaining the Dominican Republic citizenship. The first one is if you have done the classic way in order to become a permanent resident. In this case, you will have to wait for two years before becoming eligible for DR citizenship.

The second way is the Citizenship for Investment program. It allows foreign nationals to apply for citizenship just six months after becoming permanent residents by the Investors Visa.

However, after six months from the date of receipt of the residence permit, the investor has the right to apply for citizenship, but the fact is that the residence permit is issued for a period of 1 year. And the validity of certificates (medical, birth, Police) is limited to 6 months. Therefore, there is actually only 1 day to submit an application or you have to make certificates again.

In both cases you would need to pass an exam that proves your knowledge on the country’s costumes and traditions, ties with Dominican Republic and fluently in Spanish. Also, the candidate will be subject to an identification procedure by Interpol, which would take some months.

The last step of obtaining DR citizenship is that documents are sent for signature to the President of the Dominican Republic and the day of the solemn oath is set. The ceremony is usually held for 50-100 candidates at a time. It may take up to three months to complete. The whole process takes from 1.5 to 2 years to complete, being the fastest way to obtain a passport in the Caribbean.

Our services

In Privatus Maximus our core value is financial freedom. Dominican Republic has tons of it. That’s why we consider this tropical country as one of the greatest options of investment in the Caribbean.

In Privatus Maximuswe can help you to become a Dominican Republic citizen. Our wide network of experts can help you prepare all the required documentation and advice in every step of the process.

Becoming a Dominican citizen is now on your fingertips. Contact us now