The Dominica PLC requires at least 3 directors of any nationality; as with the private limited company, there is no par value for shares, with no minimum issued capital.
Public companies have the same requirement for a company secretary as private companies; A PLC must also appoint a statutory auditor with the mandate to check the company’s accounts for a period of one year from the day of its formation. In addition, Dominican public companies must have an audit committee to oversee this process, although the government will grant an exemption to this rule on application.
Key Features Dominica PLC
|
Dominica PLC |
Corporate Details |
|
General |
|
|
Type of Entity |
PLC |
|
Registered Office in Dominica |
Yes |
|
Shelf company availability |
Yes |
|
Our time to establish a new company |
4 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 |
Three |
|
Local required |
No |
|
Publicly accessible records |
Yes |
|
Location of meetings |
Anywhere |
|
Corporate directorship allowed |
Yes |
|
Shareholders |
|
|
Minimum number |
One |
|
Publicly accessible records |
Yes |
|
Corporate shareholder allowed |
Yes |
|
Location of meetings |
Anywhere |
|
Company Secretary |
|
|
Required |
Yes |
|
Local or qualified |
No |
|
Accounts |
|
|
Requirements to prepare |
Yes |
|
Audit requirements |
Yes |
|
Requirements to file accounts |
Yes |
|
Publicly accessible accounts |
Yes |
|
Other |
|
|
Requirement to file annual return |
No |
|
Migration of domicile permitted |
Yes |
Dominica PLC Distinctive Benefits
- Limited Liability: Shareholders are not personally liable for the obligations of the company as their assets are considered separate from that of the PLC.
- Privacy: The names of a PLC’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 PLC.
- No Minimum Authorized Capital: There is no minimum authorized share capital for a PLC.
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