Dominica

Offshore IBC Company

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Company Formation in Dominica

Officially the Commonwealth of Dominica, a sovereign island country with capital at Roseau, Dominica is located on the leeward side of the island. It is part of the Windward Islands in the Lesser Antilles archipelago in the Caribbean Sea. The island lies south-southeast of Guadeloupe and northwest of Martinique.

The International Business Companies Act was legislated on June 26, 1996 IBC Act offers progressive legislation with flexible company structures and efficient incorporation procedures.

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.

The Commonwealth of Dominica is becoming in recent years a major international financial center. The largest sectors are offshore banking, payment processing companies, and general corporate activities.

Companies that do not derive any income from sources in Dominica are not subject to tax.

Advantages of company incorporation in Dominica:

Dominica’s legal system is based upon English Common Law;

Company documents, workplace, including contracts written, assessed are implemented in English that is the official and spoken language;

International Business Companies were introduced in Dominica in 1996 under the International Business Company Act (IBC Act);

No taxes of any sort – Corporation tax 0%, Tax on Dividends – 0%, Withholding tax – 0%;

In place of tax, there is a fixed annual government fee, as well as an annual registered agent fee;

There are no restrictions on foreign Directors or Shareholders, individual or corporate;

There is no minimum authorized or issued share capital requirement;

There is no withholding tax on interest, dividends and royalty, no capital gains tax in Dominica;

Interim dividends distribution is allowed. Distribution to foreign entities or individuals are not taxed in Dominica;

Nominee services are available;

No requirement for filing of financial accounts or audit;

Board Meetings can be held anywhere in the world.

Summary of Dominica Company and main characteristics:

General Information 
Type of companyInternational Business Company (IBC)
Corporate LegislationThe companies are regulated under the International Business Company Act (IBC Act) 1996.
TaxationNo taxes of any sort.
Corporation Tax – 0%
Tax on Dividends – 0%

Withholding tax – 0%
CurrencyStandard Currency - Eastern Caribbean dollar (XCD)
Share Capital can be in USD$ or can be expressed in any currency
Paid up capital requirementNo paid up capital required
Time zoneUTC-4
Directors
Minimum no. required1
Local Director requiredNo
Location of MeetingsAnywhere
Shareholders
Minimum no. required1
Location of MeetingsAnywhere
Company Secretary
RequiredNo
Local Secretary requiredNo
Registered office requiredYes
Share Capital
Standard CurrencyUS$
Standard Authorized CapitalUS$100,000
Minimum paid up capitalNo
Accounting Requirements
Preparation of accountsNo accounting/reporting requirements. However, a company is required to keep financial records that reflect the financial position of the company.
Requirement for auditNo
Accounts public accessibleNo
Requirement to file Annual ReturnNo
Further Information
Bearer sharesNo
ConfidentialityYes
Nominee servicesAvailable
Need to travelNo
ApostilleYes, Hague Convention 1961
OwnersIndividuals or Corporate

Register your Dominica Company

Company Formation – with all services included for the first year:

Certificate of Incorporation;

Memorandum and Articles of Association;

Appointment of Director(s), Distribution of Shares, Minutes, Resolutions in accordance with banks requirements;

Share Certificate(s);

Authorized Share Capital of US$100,000;

Local Registered Office Address;

Registered Agent;

Personal manager assistance for the entire period.

Renewal Fee after one year – with all services included for the next year:

Local Registered Office Address;

Registered Agent;

Government annual fees;

Personal manager assistance for the entire period.

Nominee Director – Individual or Corporate as per client’s request:

Nominee Shareholder – Individual or Corporate as per client’s request:

Power of Attorney – General / Special PoA Notary Legalized with Apostille, in accordance official institutions and with banks requirements:

Certificate of Good Standing with Apostille, in accordance with official institutions and banks requirements:

Certificate of Incumbency with Apostille, in accordance with official institutions and banks requirements:

Legalization of Documents:

  • Document Notarization per document:
  • Bundle of documents Notarization;
  • Document Apostillation per document;
  • Bundle of documents Apostillation.

Company Seal:

Company Rubber Stamp:

Bank Account opening service – Quotation based on each particular case;

Compliance Service – After Company Incorporation Services – new persons, legal entities, annual compliance review:

Accounting & Bookkeeping – Quotation based on each particular case.