Commercial and civil corporations exist in the Dominican Republic. Commercial corporations are those that are incorporated in order to carry out acts of commerce or intermediary action for profit.
They are classified into four categories:
Partnerships (Sociedad en Nombre Colectivo):
This is a corporation made up of partners, whose essential element is the person of the partner who assumes an obligation of joint liability for the commitments of the company. The shares of this corporation can’t be transferred or assigned without the consent of the other partners.
Share Corporations (Sociedad Anonima o Compañia por Acciones):
This is a corporation formed by shareholders, whose essential element is not the person but rather the contribution of capital. The capital is divided into shares that can be assigned and transferred. Each shareholders participates in the profits and losses in proportion to the number of shares they have in the company .The liability of the shareholders is
