Dominica Offshore

Reasons to choose Dominica offshore jurisdiction

  • English Common Law based legal system with local modifications
  • Parliamentary democracy (independent from the UK since 1978)
  • English is the official language
  • Tax-­free environment for international clientele
  • Possibility to obtain Economic Citizenship and/or Residence in Dominica
  • Clear and fair IBC law
  • Quick incorporation process
  • Relatively new and easy to work with jurisdiction for international tax planning
  • Easy bank account opening for Dominica IBC

Reasons to buy Dominica Offshore (Dominica IBC)

  • Completely tax-­free for 20 years
  • No annual returns and accounts filing requirements
  • Great flexibility of uses of Dominica companies: maritime, assets holding, international trading, financial intermediary, e-commerce etc.
  • Directors and shareholders can be any nationals and residents of any country
  • Corporate directors and shareholders are allowed
  • All classes of shares are allowed
  • Bearer shares are allowed
  • No requirements to pay out share capital
  • Meetings can be held anywhere
  • Voting by proxy is allowed
  • Quick and easy incorporation process
  • No accounting and audit requirements
  • Great confidentiality

Dominica as an Offshore Jurisdiction 

Commonwealth of Dominica is an island nation based in the Caribbean sea between French Guadelope and Martinique islands.

As many former Eastern Caribbean colonies of United Kingdom, Dominica still depends heavily on revenue generated by export of bananas, citrus and other tropical products.

As many other jurisdictions Dominica government tries to diversify its economy by introducing new industries, namely eco-tourism and international financial services.

Although Dominica has not developed comprehensive trust and investment vehicles legislation yet, there are other financial services, which are extremely popular among international clients. Namely, Dominica international business companies and Economic Citizenship Program.

The former, Dominica offshore companies, are the best alternatives to the low cost, simple and plain structures such as Anguilla, St Vincent, the Republic of Marshall Islands etc. For those international clients, looking for inexpensive but very quick and reliable incorporation process, Dominica is the best solution available on the market.

The latter, Economic Citizenship, is a great instrument for those looking for diversification of some personal risks connected to political and economic turbulences in their home countries. Dominica Economic citizenship program allows receiving Dominica passport for life and thus it entitles the holder for the same rights as all Dominica-born citizens have. More details regarding Dominica Economic Citizenship Program can be found here. 

Dominica Offshore Jurisdiction. General Overview.

Location:  Approximately 640 kilometres from Puerto Rico

Time zone: GMT-4

Language: English

Legal: System based on English common law with local modifications

Tax

Personal income: none for non-residents

Corporate tax: none for international business companies

Exchange restrictions: no

Tax information exchange agreements: Australia, Belgium, Canada, Denmark, Finland, France, Germany, Greenland, Iceland, New Zealand, Norway, Portugal, South Africa, Sweden, The Faroe Islands, The Netherlands, United Kingdom, United States

Share capital

Permitted currency: any currency

Minimum authorized capital: 100 USD

Shareholders

Disclosure: no

Requirements: Minimum 1, any nationality, resident of any country, legal entities are allowed, nominees are allowed

Bearer shares: Allowed, but must be kept at the registered office at all times

Meetings: not required. Shareholders discretion.

Directors

Requirements: Minimum 1, any nationality, resident of any country, legal entities are allowed, nominees are allowed

Residency requirements: none

Meetings: pursuant to memorandum and articles of incorporation

Accounts

Annual return: no

Audit requirements: no

Documents

Documents kept at Companies Registry: Certificate of Incorporation Memorandum and Articles of Association and their amendments

Documents kept at Registered Agent Office: Minutes of the First meeting and Director’s appointment, Registers of Directors/Shareholders, Share certificates, Register of mortgages and encumbrances (optional), Beneficial Owner Declaration and passport copies

Other

Timescale for new entity: 1 business day

Annual fees: payable upon anniversary of incorporation

Shelf companies: available

Dominica Offshore (Dominica IBC) can be effectively used as trading, holding or intermediary company.