The following result is proved: Let D and D ′ be bounded domains in C n , ∂D is smooth, real-analytic, simply connected, and ∂D ′ is connected, smooth, real-algebraic. Then there exists a proper holomorphic correspondence f : D → D ′ if and only if ∂D and ∂D ′ a locally CR-equivalent. This leads to a characterization of the equivalence relationship between bounded domains in C n modulo proper holomorphic correspondences in terms of CR-equivalence of their boundaries.1 Definitions and Main Results. In this paper we address the following question: Given two domains D and D ′ , when does there exist a proper holomorphic correspondence F : D → D ′ ? Note (see [St2]) that the existence of a correspondence F defines an equivalence relation D ∼ D ′ . This equivalence relation is a natural generalization of biholomorphic equivalence of domains in C n .To illustrate the concept of equivalence modulo holomorphic correspondences, consider domains of the form Ω p,q = {|z 1 | 2p + |z 2 | 2q < 1}, p, q ∈ Z + . Then f (z) = (z 1 p/s , z 2 q/t ) is a proper holomorphic correspondence between Ω p,q and Ω s,t , while a proper holomorphic map from Ω p,q to Ω s,t exists only if s|p and t|q, or s|q and t|p. For details see [Bd] or [La].The main result of this paper is the following theorem.