Company registration in Dominica

General information

Dominica State is located on an island in the Caribbean. During its long history Dominica many times was on the rule of French and British, but became an independent state only in 1984. Dominican national system is a parliamentary republic. The main source of income is food export (mainly bananas) to the EU. The tourism sector is not so developed comparing to other Caribbean islands. This is due to the island’s volcanic origins and the fact that Dominica doesn’t have as much sandy beaches as other Caribbean islands.

The most common business entities

Popular business entities are international business companies (IBCs), as well as private limited liability companies (PLLC)

The main features

Director and shareholder of the offshore company can be the same person.

Corporate legislation

Corporate Legislation law is based on English common law.

Registered capital

The minimum and maximum share capital is not set, the standard is considered to be $ 100. It can be in any world currency.

The main requirements for directors and shareholders

International Business Company must have at least one director. He may be a natural or legal person there are no specific requirements for residence. There is a need for at least one shareholder (the director and shareholder can be the same person).

Disclosure of the company’s beneficial to government bodies

There is no public access to information on beneficiaries, and, moreover, such a disclosure can lead to the criminal proceedings.

Taxation

Companies pay only the annual fee.

Accounting

International Business Companies are exempt from the need to prepare and submit any type of financial statements and perform audits.

For more information, please contact us.