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Dominica, The Commonwealth of Dominica- State on the eponymous island group of the Lesser Antilles (Windward Islands) in the Caribbean Sea. To the north-west of Dominica Guadeloupe is situated, to the south-east - Martinique. On the island territory of 754 km ² live 72 500 inhabitants (estimate 2008). The capital city is Roseau. Official language - English, available also patois - a local Creole dialect based on French. Languages: English (official),
Creole French. Currency - Eastern Caribbean dollar.

 

Since 1966 there has been the democratic system in the republic, executive power is concentrated in the hands of the president and 29 governors of provinces. Legislation of this former British colony borrowed a lot from English law, including the Declaration of Human Rights and Freedoms, which provides a solid foundation of political and social stability.

Dominica


In January 2008 Dominica joined the organization ALBA (Alternativa Bolivariana para las Americas), which previously Venezuela, Cuba, Bolivia, Honduras and Nicaragua had entered, with strong anti-American policies.

In recent years, the Government of Dominica wants to turn the island into an international offshore financial center. There has been rapid growth in the financial sector, which is attributed to the introduction of a number of progressive laws facilitating the establishment of offshore areas.

Characteristics of companies registered in the jurisdiction of Dominica 


Corporate Law: 

The International Companies Act was introduced June 26, 1996 (The International Business Companies Act)


Types of registered companies: 

Business Company or the abbreviation "IBC"


Registered Capital:
 

There are no requirements to the size of the share capital and the timing of payment, at the time of registration it is sufficient merely to say - "nominate". The authorized capital stock does not affect the registration and annual fees.


Shares:

  • with the announcement of the nominal value and without notice denomination;
  • registered or bearer shares (original latter must be kept in Dominica)
  • in any freely convertible currency.

Shares shall be paid in cash or through the transfer of other assets.
For the opening of an offshore company is enough of a share issue.


Taxes and fees for the maintenance of the company: 

  • All offshore companies are totally exempt from taxation.
  • Dominica has not signed any agreements on avoidance of double taxation with other countries, and thus there is no exchange of information between authorities of Dominica and the tax authorities of other countries.
  • For the maintenance of an offshore company every year to the date of incorporation is required to pay the government a small fee, the amount of which does not depend on the size of the share capital.


Annual reporting: 

  • There is no requirement to provide any statements or conduct an annual audit of the company.
  • The registered agent must keep copies of the following documents: statutory documents of the company (Memorandum and Articles of Association), certificate of registration of an offshore company (Certificate of Incorporation), a copy of the register of directors.


Privacy: 

  • Information about the real owners of the offshore company is kept only by the registrar and does not appear in any public record.
  • Information about shareholders and directors of the company is not recorded to a public register. Also, the services of nominee directors and / or shareholders are allowed (we provide these services).
  • The International Companies Act (Section 112) provides for punishment with imprisonment for two years and a fine of 25,000 dollars for disclosing any information regarding the Company by any employee (auditor or official registrar). Information about the offshore company may be granted only by order of the court of Dominica, and only in cases when the company's activity is a criminal offense under the laws of Dominica.


Requirements for the company: 

  • To register the company in Dominica requires a minimum of one director and shareholder, which may be one and the same legal or natural person, a resident of any country and nationality.
  • Director need not necessarily be the owner of the company.
  • Permitted nominee shareholders and directors (at your request, we provide these services).
  • There is no requirement for the presence of local secretary.
  • Shareholders' meeting, if necessary, can be held anywhere in the world, as with the personal participation of the shareholders, as well as by telephone or other means of remote communication.


Company's documents: 

  • Since 2003, Dominica is a full member of the Hague Convention (The Hague Convention 1961) and therefore the package of records shall be duly certified by the Apostille - "sworn" (Apostille).
  • Non of constituent documents in any language (necessarily require translation into English).

Requirements for companies registered in offshore Dominica:
must have a registered office in Dominica and a local registered agent (we provide these services).


Select items:

Name for an offshore company must end with a word, phrase or abbreviation, which indicates the status of the company: "Corporation", "Corp.", "Incorporated", "Inc.", "Limited", "Ltd.", "SA".

In the title companies can not use acronyms, words or phrases which may involve liaison with the Government of Dominica - "Government", "Govt", "National", "Royal", "Republic", "Commonwealth", "Dominica", etc., but without a special permit or license - Assurance, Bank, Building Society, Chamber of Commerce, Foundation, Trust, etc.


Restrictions on offshore:

  • For offshore companies there are no restrictions on the conduct of any lawful trade or investment activities outside of Dominica, except actions requiring a special license under the law: for example, authorize the provision of banking, trust and insurance services.
  • Offshore company in Dominica has no right to extract income from sources in the country of registration and own any property in Dominica.

 

International business company (IBC) - Standard order

 International business company (IBC) 

US$ 1,250.00

 US$ 1,950.00

Standard order

The documents/services which are provided to the client are:

  • Certificate of Incorporation 
  • First Resolution of Director
  • Memorandum and Articles of Association
  • Share Certificate
  • Courier services
  • Corporate seal                     

       Price - US$ 1,250.00 includes:

  • Payment of government duties for registration of offshore company
  • Services of the registered office & registered agent in Dominica for first year
  • Services of registered office for first year.
  • Courier

Standard order with Nominee Services:

The documents/services which are provided to the client are:

  • Certificate of Incorporation
  • Memorandum and Articles;
  • First resolution of the Directors
  • Appointment of First Directors;
  • Share Certificate;
  • Deed of Trast
  • Register of the Directors and Shareholders;
  • Letter of the acceptance of the Director;
  • Power of Attornay;
  • Apostille Bound Set in the country of registration;
  • Agreement for the provision of nominee services
  • One round rubber company stamp

Price - US$ 1,950.00 includes:

  • Payment of government duties for registration of offshore company;
  • Services of the registered office & registered agent in Dominica for first year
  • Services of registered office for first year;
  • Nominee services for first year;
  • Courier.


Ready-made (shelf) companies
 

We have specially registered some companies for your convenience if you require the company immediately or if you require company with older incorporation date. You can sign the bank account opening forms as soon as you have purchased the shelf company which let's you to receive the account number and IBAN number straight away.
All these companies have not traded or entered into any dealings or obligations whatsoever. Since their incorporation, their documents have been kept motionless on the shelf in our office.
Please note that due to the fact that these are "shelf" companies they are without Apostille and most probably, you will need it so it will take 1-2 business days to arrange for it. And if you are a new customer it will take some time to fill out all the necessary forms due to our companies "know your customer" policy.
The Price for the shelf company varies depending on the incorporation date of the company. 

For more detailed information about company formation in Dominica or "shelf" companies please contact us and our experts will be glad to help you in any question you may have. Our telephone number is + 357 22 680602 and e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.