The different types of companies in the Dominican Republic.
In the Dominican Republic, commercial companies are regulated by the Commercial Societies and Individual Enterprises of Limited Responsibilities General Law No. 479-08 and its amendments.
Law 479-08 Distinguish The Following Types of Societies
Joint-Stock Societies of Public and Private Subscription; Collective Name Societies; Simple Silent Partnership Societies; Corporations; Societies of Limited Responsibilities and Individual Enterprises of Limited Responsibilities.
Limited Liability Company
of the most widely used companies today is the Limited Liability Company (SRL). The same is embodied in articles 89 et seq. Of Law 479-09. This company is formed by two or more people, under a corporate name, through contributions from all partners, who do not personally respond to social debts and whose responsibility for losses is limited to their contributions.
The Corporation is an entity with a legal existence formed by two or more partners who only assume the risk of losses up to their capital contributions. Its capital will be represented by essentially negotiable securities called shares, which must be fully subscribed and paid before issuance.This type of company is regulated by the Law 479-09, embodied in articles 154 et seq.
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