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Thursday, February 2, 2023
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MAIO Legal advises Dominican bank Banreservas on its arrival in Spain

MAIO Legal has counselled Banco de Reservas on the launching of a representative office in the Spanish capital as part of its internationalisation strategy

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The Banco de Reservas de la República Dominicana (Banreservas), considered a leading financial institution in the Dominican Republic, has opened the first of several representative offices in Madrid on Avenida de la Castellana, close to the Dominican Consulate, with which it plans to expand its international presence.

This representative office will replicate all Banreservas services in Spain while maintaining financial operations in the Dominican Republic, which will allow Dominicans to speed up and carry out banking procedures without having to travel to their country.

This opening of Banreservas has counted on the advice of a multidisciplinary team of MAIO Legal for the creation of the entity, the authorisation process followed before the Bank of Spain, and the hiring of personnel and facilities. This team was led by Marco Bolognini, with the participation of Maria Katie Bua, Pablo Segui, Cristina Martínez, Yohana Calachi and Luis García Spínola.

Banreservas’ in-house legal team and the Dominican law firm De Camps, Vásquez & Valera Abogados have also counselled Banreservas on the project.

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