The Dominican Republic Superintendency of Banks has expanded its digital onboarding guidelines to allow legal entities to be onboarded remotely in the financial system, enabling companies to contract banking products and services digitally. The change extends to commercial companies the remote onboarding facilities that were previously available only to natural persons. The update sets specific procedures for corporate identification, validation and due diligence, including verification of corporate documents, commercial registry records, beneficial ownership information and legal representation powers. It also allows financial intermediation entities to use digital services provided by chambers of commerce to obtain corporate information for validation. Existing requirements on customer identification and verification, anti-money laundering and counterterrorist financing, information security and financial consumer protection remain in place. The authority said the measure is designed to reduce operational and geographic barriers for businesses, particularly micro, small and medium-sized enterprises.
Superintencencia de Bancos de la Republica Dominicana2026-07-13
Dominican Republic Superintendency of Banks expands digital onboarding to legal entities for remote banking services
The Dominican Republic Superintendency of Banks has extended digital onboarding rules to legal entities, allowing companies to open banking relationships and contract products remotely. The update introduces corporate verification and due diligence procedures while preserving existing controls on customer verification, AML/CFT, information security and consumer protection.