Dominica

 

Dominica

The Commonwealth of Dominica, better known as Dominica (which is different from the Dominican Republic) is an English speaking former British Colony, now a Constitutional Independent Democracy (1978), is located in the Eastern Caribbean. The Time Zone is + 1 hour EST and -4 hours GMT.

The International Business Companies Act was legislated on June 26 1996 (IBC Act). This Act offers progressive legislation with flexible company structures and efficient incorporation procedures. The privacy of shareholders is guaranteed under the Act at section 112. Overall, Dominica as an Offshore Business Center is among the best in the world, with highly competitive costs and quick incorporation.

The legal system, which is based on the British Common Law and a constitution which enshrines human rights and freedom, ensures the future political stability of the nation.

Incorporation

Type of company: International Business Company or IBC. An IBC can take the form of company limited by shares, company limited by guarantee, company limited by shares and guarantee, unlimited company and dedicated cell company.

Who can incorporate: Registered Agent.

Time to incorporate: Two Days.

Registration fee: US$450 payable on the anniversary of incorporation.

Shelf company availability: Yes.

Taxation: The law provides a minimum twenty (20) years Tax Exemption for offshore companies beginning from the day of incorporation.

Minimum annual government fee: US$405

Disclosure of beneficial owner: No.

Bearer shares: Yes.

Standard minimum paid up: US$ 1

Standard authorised capital: US$100, 000

Permitted currency of capital: US$

Minimum number of shareholders: One.

Minimum number of directors: One.

Corporate directors: Yes.

Local directors: No.

Company secretary: Not required.

Company seal: Option.

Public record of directors & shareholders: No.

Location of directors and shareholders meeting: Anywhere.

Telephone board meeting: Yes.

Access to Double Tax Treaty: Dominica is not party to any double tax treaties.

Requirement to file account: Yes.

Requirement to keep account: Yes.

Requirement to file annual return: No.

Change in domicile: Allowed.

Local registered office address: Yes and at the address of local licensed registered agent.

Data Sheet

Dominica Data Sheet – Summary

Type of companyIBC
Common or civil law jurisdictionsCommon
Shelf company availabilityYes
Time to incorporate2 days
Min. annual duty or franchise feeUS$405
Annual return filling feeNil
TaxationThe law provides a minimum twenty (20) years Tax Exemption for offshore companies beginning from the day of incorporation.
Disclosure of beneficial ownershipNo requirement
Bearer sharesYes
Standard minimum paid up capitalUS$1
Standard authorised share capitalUS$100, 000
Permitted currency of capitalAny
Minimum number of shareholders1
Minimum numbers of directors1
Corporate directorsYes
Local directorsNot required
Company secretaryNot Required
Company sealOption
Public record of directorsNo
Public record of shareholdersNo
Location of directors meetingAnywhere
Location of shareholders meetingAnywhere
Telephone board meetingYes
Access to Double taxation treatyNone
Requirement to file accountYes
Requirement to keep accountYes
Requirement to file annual returnNo requirement to file annual return
Change in domicilePermitted
Local registered addressYes
Who can incorporate?Registered Agent

Banking Options

Click the link below to see the banking option we have for Dominica Company.

Dominica Company Banking Option

 

Inquiry

How can I get more information on company formation in Dominica?

Please contact us if you wish to open a company in Dominica and we will be pleased to discuss your Dominica

offshore company formation matters in greater detail.

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