PROCESO DE ADOPCIÓN EN LA REPÚBLICA DOMINICANA / ADOPTION PROCESS IN THE DOMINICAN REPUBLIC

ADOPTION PROCESS IN THE DOMINICAN REPUBLIC

ADOPTION IN THE DOMINICAN REPUBLIC

Law 136-03 or Code for the System of Protection of the Fundamental Rights of Children and Adolescents, defines adoption as a legal institution of public order and social interest that allows creating, through a sentence rendered to that effect, a voluntary filiation link between people who do not have it by nature. Continue reading “ADOPTION PROCESS IN THE DOMINICAN REPUBLIC”

Registro de la propiedad inmobiliaria en la República Dominicana - REAL ESTATE PROPERTY REGISTRATION IN THE DOMINICAN REPUBLIC

REAL ESTATE PROPERTY REGISTRATION IN THE DOMINICAN REPUBLIC

REAL ESTATE PROPERTY REGISTRATION IN THE DOMINICAN REPUBLIC

To declare publicly and legally, the property right that is intended to have in unregistered lands, the Dominican state has the sanitation process.

Sanitation is defined by law 108-05 of real estate registration, as the process of public order to determine and individualize the land, the rights that fall on it are purged and they are registered for the first time. Also, it contemplates the Dominican state and any individual or entity that claims or possesses a right over an unregistered property, such as the entities capable of initiating it.

To justify the claim of property rights on unregistered land, there must be possession, which is appreciated when a person has in his power a property as owner or by another exercising the right under the power of representation, acted as public, uninterrupted, peaceful and unequivocal, during any of the periods contemplated in the Civil Code, as an acquisitive prescription, consisting of five (05), ten (10) or twenty (20) years.

The sanitation process consists of three stages: cadastral, judicial and registry, the latter mentioned, ends the process by issuing the ownership title certificate, enabling the registration of complementary seats and thereby granting publicity. This has the characteristics of a public, official, authentic, enforceable and imprescriptible document, in favor of the person who has been awarded the property.

These reasons are based on the importance of the real estate property registration, which is provided for the guarantee of property rights, and safeguards the inherent protections, for the existence of a real estate right in the Dominican Republic´s territory.

 

 

 

Organizing your Business in Dominican Republic

Organizing your Business in Dominican Republic

Foreign companies and/or individuals may conduct business in the Dominican Republic by setting up a Dominican Corporation.

Any company duly organized and existing in accordance with the laws of its country of origin can set up a branch in the Dominican Republic by registering at the Business Registry and obtaining a tax number from the Internal Revenue Agency. Additional approvals may be required in certain regulated industries.

Registration requires that (a) all incorporation documents of the foreign company be translated into Spanish and authenticated, (b) corporate minutes establishing a registered office in the Dominican Republic and naming a local representative, and (c) particulars of the local representative and the company’s shareholders.

Registration is not necessary if the activity of the foreign company is limited to acquiring equity in a local business entity or to occasional transactions in the Dominican Republic. Continue reading “Organizing your Business in Dominican Republic”

NEW MORTGAGE FACILITIES IN DOMINICAN REPUBLIC

The Dominican Republic recently enacted a law that is helping the country’s mortgage market to develop while providing significant opportunities for investors, as well as a boost for the country’s efforts to expand its housing stock.

The new law defines a number of key terms, including ‘trust’, ‘settlor’, ‘trustee’ and ‘beneficiary’. A ‘settlor’ is a party that transfers property to a trust that is under cheap nfl jerseys the care of a legal entity (e.g, a multiple-service bank or other financial institution or an investment fund manager), where such entity is authorized to act as a trustee for the benefit of a beneficiary. Continue reading “NEW MORTGAGE FACILITIES IN DOMINICAN REPUBLIC”