Monday, February 25, 2008

FORMATION OF COMPANIES OVER INTERNET IN DOMINICAN REPUBLIC

http://elnuevodiario.com.do/app/article.aspx?id=91358

February 18, 2008.

Dominican Republic starts a system for the constitution of companies over the Internet.


11:31 pm – Santo Domingo, February 18 (EFE) .- Today the Dominican Republic launched a system that allows the constitution of a company through the Internet in just three days, instead of the 22 days that to the present takes this proceeding.

The state-based Consejo Nacional de Competitividad (CNC) (National Competitiveness Council) reported that the portal www.creatuempresa.gob.do will allow to constitute a company in an easy and agile way, which will make "more competitive" the business climate in the Caribbean country.

Through the website it will be possible to complete securely, in a simplified and centralized way, the processes for the registration of name, business and taxpayer, as well as payments and transactions in a minimum period of time, asserted in a public activity the director of CNC, Andrés Vanderhorst Álvarez.

"With this initiative the Dominican Government seeks to create synergies between the Government and the private institutions to ensure that the constitution of a company is something easy and agile as a way that the task of doing business can be attractive to entrepreneurs and new investors," said the official.

Another advantage to be emphasized is that the system will allow payments by credit card or bank transfer, and it will give users the option to choose whether to make a single payment or partial payments in every step of the process.

The system specifications will allow to generate the documents, make and channel the related payments with high levels of privacy and security.

Vanderhorst asserted that the design of the new tool places the Dominican Republic among the leading countries on this line of activity in Latin America.

The security level of the webpage is "optimal," added the official, noting that the information is sent in an 'encrypted' format and based on digital certificates. EFE

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Freddy Miranda
freddymiranda.com
Translated by Orlando Alcántara