The Dominican private limited company is commonly used by entrepreneurs seeking to establish a local SME in the Commonwealth of Dominica. An SRL must have at least 1 shareholder and 1 director, who can be of any nationality. The shareholders can be individual persons or corporate bodies, but corporate directors are prohibited for this company type.

Unlike the IBC, private limited companies in Dominica can issue shares with no par value. Therefore, a company may be incorporated with a single share and no capital if the company is not in a regulated industry;

A Dominican private company must produce consolidated financial statements, but does not require an auditor;

All companies must appoint a company secretary, who may either be an individual or a corporation. The company secretary need not be resident within the Commonwealth of Dominica, and if the company has a single director then the director is disqualified from holding the position of secretary.

Key Features Dominica PLLC

Dominica PLLC

Corporate Details

General

Type of Entity

PLLC

Registered Office in Dominica

Yes

Shelf company availability

Yes

Our time to establish a new company

2 Weeks

Taxation on Profits

No

Access to Double Taxation Treaties

No

Share capital or equivalent

Standard currency

US Dollar is commonly used

Permitted currencies

Any

Minimum paid up

US$1

Usual authorized

None

Bearer shares allowed

No

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

Yes

Local or qualified

No

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

 Dominica PLLC Advantages

  • Limited Liability: Shareholders are not personally liable for the obligations of the company as their assets are considered separate from that of the PLLC.
  • Privacy: The names of a PLLC’s shareholders are not included in the public records.
  • One Shareholder: A minimum of one shareholder residing in any country is required to form a PLLC.
  • No Minimum Authorized Capital: There is no minimum authorized share capital for a PLLC. 

The Valsen Advantage

  • End to end comprehensive service
  • Speedy and efficient service
  • Expert advice on structuring options
  • Dedicated ongoing compliance support
  • Extensive network pool of service providers