The Commonwealth of Dominica (not to be confused with the Dominican Republic) is located in the Eastern Caribbean offers attractive offshore formation opportunities for potential foreign individuals and companies. Dominica currently offers a broad range of offshore services, the most popular product being the International Business Company IBC, also known as an offshore company or a non-resident company. The Dominica IBC offers individuals fully tax exempt status, with zero obligations on financial reporting and low fixed annual fees for licensing. As an offshore business center, Dominica is quickly becoming one of the world leaders in offshore services.

Key Features

Dominica IBC

Corporate Details

General

  • Type of Entity

IBC

  • Governed by

International Business Companies (IBC) Act 1996
Companies Act 1994
Offshore Banking Act 1996

  • Registered Office in Dominica

Yes

  • Shelf company availability

Yes

  • Our time to establish a new company

1-2 Days

  • Corporate Taxation

Exempt for 20 years

  • Access to Double Taxation Treaties

No

Share capital or equivalent

  • Standard currency

US Dollar

  • Permitted currencies

Any

  • Minimum paid up

$100

  • Usual authorized

No Limit

  • Bearer shares allowed

Yes

  • No par value shares allowed

Yes

Directors

  • Minimum number

One

  • Local required

No

  • Publicly accessible records

No

  • Location of meetings

Anywhere

  • Corporate directorship allowed

Yes

Shareholders

  • Minimum number

One

  • Publicly accessible records

No

  • Corporate shareholder allowed

Yes

  • Location of meetings

Anywhere

Company Secretary

  • Required

No

  • Local or qualified

Not required

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

No

  • Publicly accessible accounts

No

Other

  • Requirement to file annual return

No

  • Migration of domicile permitted

Yes

Advantages

  1. Zero tax
  2. Political and economic stability
  3. Absence of exchange, currency and capital controls
  4. Absence of tax treaties
  5. Modern and simple incorporation laws and procedures
  6. Superior banking and professional services
  7. Minimum disclosure requirements
  8. Currency diversification
  9. Limiting personal liability