DR Single Owner Limited Company

The Dominican Single Owner Limited Liability Company or EIRL belongs to an individual and is an entity provided with its own legal personality, with capacity to be owner of rights and obligations, which form an independent and separate patrimony from all the other assets of the individual owner of such enterprise. It may conduct all types of operations of civil and commercial nature, rendering of services, industrial and commercial activities.

The corporate name may be formed freely. It must be preceded or followed immediately and legibly with the words “Empresa Individual De Reponsabilidad Limitada” or the initials E.I.R.L. Lacking this last indications, the owner will be jointly and severally liable before third parties.

The manager of the Dominican Limited Company must be an individual. The owner may designate a manager or assume the functions of the same, if it were possible. The manager is generally empowered to act on behalf of the enterprise, save for the restrictions determined in the incorporation act; he may not delegate his functions except such incorporation act authorizes the same and he may always confer powers for the judicial representation of the enterprise.

 

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