Dominica

Dominica - Overview - Offshore companies

Offshore company formation in Dominica is the fastest process from the world thanks to the efficient system and highly motivated individuals. Dominica is a distinctive country, being the most rugged landscapes in the Caribbean, covered by largely unexploited, multi-layered rain forest. It is also known as the best offshore tax havens in the Caribbean, which offers a safe and legitimate way to optimize the taxes.
Dominica is a state, situated in the West Indies and has on North French Island of Guadeloupe and on the South the Martinique Island.

Dominica entered the world book of records as a first country in the world which installed completely digital communication system. Also the communication services are of the highest quality and it is possibly to get access to phone, fax, and internet from almost any part of the island. The government encourages the development of an offshore financial-services sector, including company and bank registration and internet gambling.

Is also known that EC$ - the Eastern Caribbean dollar, is one of the strongest currencies of the Caribbean. Dominica is an independent, sovereign country and is not affected by the EU Savings Tax Directive. Bearer shares are allowed but must be kept in Dominica. Share capital is unlimited and there are no extra fees for high capitalization.

From political point of view, Dominica is a republic with a non-executive presidency and has been a parliamentary democracy since November 1978. The legal system is based on British Common Law and the constitution which enshrines human rights and freedom, ensures the future political stability of the nation.
The principal corporate legislation includes International Business Companies Act 1996 and Companies Act 1994.
Those acts offer progressive legislation with flexible offshore company structures and efficient incorporation procedures, the privacy of shareholder being guaranteed under the Act at section 112. Dominica jurisdiction is considered as one of the best Offshore Business Center in the world because of highly competitive costs and quick formation.

Some of the characteristics of an offshore company in Dominica are: the maximum share capital for an offshore company has no limitation and does not affect the Registration Fee or annual Fees; Dominica offshore companies do not require more than one director; one shareholder and one director are allowed and the same person can be both positions; directors or shareholders may be natural person or corporation entity; shareholders or directors may be of any nationality; offshore company shares can be issued with or without Par value; there are allowed bearer shares; nominee shareholders and directors are allowed for an Dominica offshore company; no requirements for a secretary; minimum 20 years Tax Exemption for offshore companies beginning from the day of incorporation; there are no dual Taxation Treaties with other countries, therefore no requirement for exchange of information with other Tax Authorities; no requirement to prepare or to file any accounts or financial statements.

 

Dominica

General Information

Type of company

IBC

Type of Law

Common

Our time to establish a new company

2 days

Double Taxation Treaty Access

No

Corporate taxation

Nil ( exempt for 20 years)

Share capital or equivalent

Standard currency

US$

Permitted currencies

Any

Minimum paid up

US$1

Usual authorized

US$ 100,00

Directors

Minimum number

One

Local required

No

Publicly accessible record

No

Location of meetings

Anywhere

Shareholders

Minimum number

One

Publicly accessible records

No

Location of meetings

Anywhere

Company secretary

Required

No

Local or qualified

No

Accounts

Requirements to prepare

Yes

Audit requirements

Yes

Requirements to file accounts

Yes

Publicly accessible accounts

No

Recurring government costs

Minimum annual tax/license fee

US$405

Annual return filling fee

Nil

Other

Requirements to file annual return

No

Change in domicile permitted

Yes

Dominica Incorporation Costs

Company registration

790 Euro

Bank account

390 Euro

Annual Tax( from 2nd year)

590 Euro

Optional/Additional costs

Nominee Director/year

200 Euro

Nominee Shareholder/year

200 Euro

Certificate of Good Standing

150 Euro

Power of Attorney

150 Euro

Apostil/document

150 Euro

Company seal

50 Euro

Courier Delivery

80 Euro