| General
Information |
|
| Company
Law |
Company
Law No. 32 1927 |
| Type
of Company |
Corporation |
| Language
of Legislation and Corporate Documents |
Spanish |
| Taxation
of Foreign Profits |
Nil |
| Exchange
Controls |
None |
| Length
of Time to Incorporate |
5
working days |
| Shelf
Companies Available |
Yes |
| Corporate
Names |
|
| Name
Restrictions |
Names
identical or similar, offensive words |
| Endings
and Abbreviations Required |
Corporation,
Incorporated, Sociedad Anonima, or its abbreviations |
| Length
of Time to Verify Name Availability |
2
hours |
| Reservation
of Names Permitted |
Yes |
| Language
of Name |
Any
language using the Latin alphabet |
| Name
of Banks, Insurance, Investment Fund, Trust Company or their equivalents
requiring consent or license |
Yes |
| Capital
and Shareholders |
|
| Minimum
Number of Shareholders |
One |
| Local
Shareholders Required |
No |
| Corporate
Shareholders Permitted |
Yes |
| Disclosure
of Shareholders |
No |
| Minimum
Authorised Capital Required |
Yes |
| Bearer
Shares Permitted |
Yes |
| Registered
Shares Permitted |
Yes |
| No
Par Value Shares Permitted |
Yes |
| Directors
and Officers |
|
| Minimum
Number of Directors |
Three
natural persons or corporate bodies |
| Qualifications
of Directors |
Legal
age |
| Officers
Required |
Yes |
| Corporate
Directors/Officers Permitted |
Yes |
| Local
Directors/Officers Mandatory |
No |
| Appointment
of Subsequent Directors/Officers |
Articles
of Incorporation |
| Meetings |
|
| Annual
General Meeting of Shareholders Required |
No |
| Annual
General Meeting of Directors Required |
No |
| Location
of Directors and Shareholders Meetings |
Anywhere |
| Adoption
by Consent Permitted |
No |
| Quorum
required for purposes of meetings |
Articles
of Incorporation |
| Local
Requirements |
|
| Qualified
Registered Office/Agent |
Yes/Yes |
| Government
Register of Shareholders |
No |
| Government
Register of Directors/Officers |
Yes |
| Government
Register of Charges |
No |
| Register
of Directors/Officers to be kept at Registered Office |
Yes |
| Company
Seal Required |
No |
| Copy
of Minutes to be kept at Registered Office |
No |
| Copy
of Share Register to be kept at Registered Office |
No |
| Annual
Requirements |
|
| Minimum
Annual License Fee or Franchise Tax |
US$300 |
| Annual
License Fee or Franchise Tax Due Date |
July
15 (for companies incorporated from January to June)
January 15(for companies incorporated from July to December) |
| Applicable
Surcharges |
US$50
(Additionally a US$300 penalty applies for nonpayment of more than
one franchise tax) |
| Requirement
to File Annual Returns |
No |
| Requirement
to Submit Annual Audited Accounts |
No |
| Other
Relevant Information |
|
| Member
of Apostille of the Hague Convention |
Yes |
| Increase
or Reduction of Capital |
Shareholder´s
resolution |
| Redomiciliation
Prohibited |
No |
| Reinstatement
at Registry |
No |
| Removal
from Registry |
Even
if a company is dissolved, its corporate documents are kept at the
Registry. |
