DONATIONS IN THE DOMINICAN REPUBLIC
The donation is a legal act consisting in the free transfer by one person (donor) to another (donee), of movable or immovable property, with the sole purpose of benefiting the latter. Therefore, it is characterized by being an unilateral, consensual contract and free of charges, and must comply with all the formalities established by law for the validity of conventions. Continue reading “REGIME OF DONATIONS 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”
TAX INCENTIVES FOR FILMS IN THE DOMINICAN REPUBLIC
The Dominican Republic, determined to promote the development of the national cinematography filming activity, has Law 108-10, consisting of tax incentives for projects of this nature. Continue reading “TAX INCENTIVES FOR FILMS IN THE DOMINICAN REPUBLIC”
QUICK DIVORCE IN THE DOMINICAN REPUBLIC
Instituted in the Dominican Republic since 1971, through Law No.142, later amended by Law No.544-14 of 2015, this divorce is a special procedure, aimed to Dominican citizens residing abroad, and for foreigners as well. Continue reading “QUICK DIVORCE 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.
The Dominican Republic imports and exports products to and from around the world. Continue reading “IMPORTS AND EXPORTS”
Dominican law accords equal treatment to domestic and foreign investment. Continue reading “FOREIGN INVESTMENT”
In the DR anyone is allowed to “give” his last name to another person through a name change process. In this case I guess you would be giving the child your last name. Continue reading “How to change your name 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”
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 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”