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:
Summary of Dominica Company and main characteristics:
| General Information | |
|---|---|
| Type of company | International Business Company (IBC) |
| Corporate Legislation | The companies are regulated under the International Business Company Act (IBC Act) 1996. |
| Taxation | No taxes of any sort. Corporation Tax – 0% Tax on Dividends – 0% Withholding tax – 0% |
| Currency | Standard Currency - Eastern Caribbean dollar (XCD) Share Capital can be in USD$ or can be expressed in any currency |
| Paid up capital requirement | No paid up capital required |
| Time zone | UTC-4 |
| Directors | |
| Minimum no. required | 1 |
| Local Director required | No |
| Location of Meetings | Anywhere |
| Shareholders | |
| Minimum no. required | 1 |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | No |
| Local Secretary required | No |
| Registered office required | Yes |
| Share Capital | |
| Standard Currency | US$ |
| Standard Authorized Capital | US$100,000 |
| Minimum paid up capital | No |
| Accounting Requirements | |
| Preparation of accounts | No accounting/reporting requirements. However, a company is required to keep financial records that reflect the financial position of the company. |
| Requirement for audit | No |
| Accounts public accessible | No |
| Requirement to file Annual Return | No |
| Further Information | |
| Bearer shares | No |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | Yes, Hague Convention 1961 |
| Owners | Individuals or Corporate |
Register your Dominica Company
- Document Notarization per document:
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.