Protect your assets - own a Dominican Company Like any other strategy to protect your assets and gain tax advantages, the main goal of asset protection is the separation of personal property from the benefical owner. As your assets are not in your name, they cannot be taken away from you if a lawsuit arises or if someone wishes to attach your property for some reason. In essence you do not own the property, a completely separate entity does. Dominican civil law often provides for a stronger legal backing when it comes to certain types of possible assaults on your assets. Investors faced with a Divorce action, or other types of civil suits, will certainly find better protection under the Dominican Civil Law Court system. But this is not the only real benefit of a Dominican Company. Owning your Dominican Republic Vacation property, real estate or investments via an incorporated company also provides huge tax advantages. Title transfer tax can be reduced using certain strategies with a Dominican Company as the owner of your property. In addition, when it come time to sell your property, a savings on capital gains is also possible. The company formation procedure in Dominican Republic takes appox. 8 weeks. The company will be incorporated using your desired name. We ensure that the procedure is as simple for our clients as possible. We will administer the preparation and filing of all registration forms on your behalf. The whole incorporation process can be arranged from your desk. Upon receipt of the filing confirmation from the authorities, we will email you with the registration details. We will then forward the premium binder containing all the official certificates and documentation. Companies incorporated in Dominican Republic are empowered to conduct all types of business and may have clients, contractors, suppliers and employees from any country. Dominican corporations are subject to the following taxes: The income tax rate for Dominican corporations is a flat 25% on net income. Interest on debt is tax deductible. Tax on Assets. Corporations must pay an annual 1% tax on their assets. This tax functions as a kind of minimum tax since amounts paid are deducted from the amount due for corporate income tax. |
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