Dominica Offshore Companies

DOMINICA OFFSHORE COMPANIES

The Commonwealth of Dominica is a ruggedly beautiful English speaking country located in the Eastern Caribbean, between the French islands of Martinique and Guadeloupe. (It is sometimes confused with the Dominican Republic, which is a Spanish speaking island in the Caribbean).

The Commonwealth of Dominica became independent from the United Kingdom on 3 November, 1978. It has a Parliamentary style of government on the UK model and is a member of the British Commonwealth. There is universal suffrage and elections are due every five years. Executive power rests with the Prime Minister and his Cabinet.

Dominica is a relatively new entry to the business of offshore companies, with the International Business Companies Act No. 10 being passed in 1996. It does however, have the excellent asset protection features of many of the more popular offshore tax havens.

Check here for General Information on Dominica.

OVERVIEW OF KEY FEATURES

Offshore companies registered in Dominica are guaranteed tax free for 20 years and there is no requirement to file annual returns or audited statements with government authorities.

Dominica is an independent, sovereign country and is not affected by the EU Savings Tax Directive.

All incorporation documents are in English. A Dominica company may do business anywhere in the world. There is no requirement for Directors or Shareholders to be resident in Dominica and they can be of any nationality. Meetings of Directors and Shareholders can be held anywhere in the world, either in person or by phone.

Bearer shares are allowed but must be kept in Dominica. Share capital is unlimited and there are no extra fees for high capitalization.

Dominica is not a well known offshore jurisdiction and is not as suspect as some of the more popular countries. It is also one of the more inexpensive jurisdictions in which to incorporate an offshore company.

QUICK REVIEW OF DOMINICA OFFSHORE COMPANIES

DOMINICA OFFSHORE COMPANY FEES

• Click Here for Typical Dominica Offshore Incorporation Fees
• Compare Dominica Company Fees to Other Jurisdictions
• Request a No-Obligation Quotation or Place an Order
• View Shelf Companies (ready-made companies) Available

OFFSHORE COMPANY MANAGEMENT SERVICES AVAILABLE

Nominee Directors & Shareholders, Accounting Services, Corporate Identity Package, Virtual Offices, Mailing Address, Basic Account Maintenance, Invoicing Services, Employee Contracts, Documents Safekeeping and general Corporate services for company changes/restructuring etc. More details are available on our Management Services page.

NAME RESTRICTIONS

The company may not use a name identical or similar to an existing company. The use of the following words is also prohibited except by licence or Dominica Government approval: Bank, Trust, Trustees, Insurance, Assurance, Reinsurance, Building Society, Savings, Loans, Chamber of Commerce, University or their equivalents in foreign language names.

SUFFIXES TO DENOTE LIMITED LIABILITY

The company name may end in Limited, Corporation, Incorporated, or the relevant abbreviations; or a word or abbreviation used in another country (e.g. SA, NV or GmbH) to indicate that the liability of the shareholders of a body corporate is limited. Contact Maritime International Ltd for details on any other Suffix you wish to use.

GENERAL INFORMATION ON THE COMMONWEALTH OF DOMINICA

The Commonwealth of Dominica, located in the Eastern Caribbean, has spectacular hills and valleys, waterfalls and rain forests. It is a popular destination for American and European tourists, particularly those interested in diving and eco-tourism.

Dominica has been called the “nature island” of the Caribbean. Forests cover over 60% of the country and the hills and valleys are spectacular. There are over 365 rivers and the country has hot springs and the world’s largest boiling lake which endows it with tremendous potential for geo-thermal energy and/or spa development.

The population of Dominica is approximately 72,000. The capital city is Roseau. The country’s infrastructure is good with excellent water, power and communications. There are direct dial facilities worldwide via fibre optic undersea cable; and Internet data transmission facilities are readily available.

Dominica does not have an international jet airport so overseas flights connect to Dominica’s international airport using smaller turboprop aircraft. There are direct flights to and from Dominica from the jet airports on Puerto Rico, Antigua, St. Lucia and the French islands, with onward connections to North America and Europe.

The World’s major cruise ships dock at the new port facilities in Roseau. Over 200,000 tourists arrive by cruise ships each year.

OFFSHORE LEGISLATION

The International Business companies Act was enacted in June 1996 and provides for the incorporation, operations and regulation of International Business Companies (IBC’s).

The advantages of incorporating in the Commonwealth of Dominica include the following:

• There is exemption from all local taxes, duties and other similar charges for a period of 20 years.
• There are no exchange controls on the movement of funds by IBC’s and there is unrestricted operation of bank accounts.
• There is no requirement to file organizational or accounting information with any authority, and share registers are available for inspection only by registered shareholders.
• There is no capital gains tax.
• Members may reissue and reacquire their own shares and single directors and shareholders are allowed. Directors may be persons or another company.
• Shareholder’s and directors’ meetings can be held outside Dominica.
• There is no statutory requirement to hold an Annual General Meeting. If one is held, the time and place are determined by the members and the meeting may be by telephone or other electronic means.

LEGAL SYSTEM

The Commonwealth of Dominica is an independent Sovereign state with a written constitution. The legal system is based on English common law.

MONENTARY SYSTEM & EXCHANGE CONTROLS

Dominica is a member of the Eastern Caribbean Central Bank. The legal currency is the Eastern Caribbean (EC) dollar which is issued and regulated by the Central Bank.

The EC dollar is fixed to the US dollar at the rate of US $1.00 equals EC $2.6882. US currency is also legal tender on the island and is readily accepted everywhere.

General Information

Professional Services

Additional Services