Dominica

General Information

Area – 754 sq. km

Population – 73,607 people

Capital – Roseau

Official language – English

Official currency – East Caribbean dollar (XCD)

Key Aspects

Offshore companies do not pay VAT, corporate tax and capital gains tax. In general, offshore companies are exempted from tax payments. The director and the shareholder may be one and the same person.

Company Type

Incorporation of international business companies (IBC) enjoys huge popularity.

Corporate Legislation

Corporate legislation is based on the English common law.

Main Requirements for Company Directors and Shareholders

A company must have at least one director who may be both a natural person and a legal entity without special requirements as to the residence thereof. Also, there is a requirement for a company to have at least one shareholder (the director and the shareholder may be one and the same person).

Authorised Capital

The minimum and maximum amount of the authorised capital is not determined; authorised capital amounting to USD 100 is regarded as a standard authorised capital. It may be represented in any currency.

Taxation and Reporting

Offshore companies are exempted from paying taxes and pay only the yearly duty.

Companies are freed from the preparation and filing of any financial accounts and conducting audits.

 Questions that need to be answered to prepare incorporation documents

• Information about the beneficiary (passport scan; in case a national passport is scanned – its translation into English).
• Utility Bill (confirmation of the registration address translated into English).
• Passport and Utility Bill in the agent’s name if it is not the beneficiary.