Commonwealth of Dominica

Commonwealth of Dominica - IBC/Other jurisdictions

The Commonwealth of Dominica is an independent republic located on an island in the Caribbean. The country has a beautiful nature (this is where many feature films were shot, including the iconic Pirates of the Caribbean).

Legislative power in the country is represented by parliament, the head of state is the president. In 1805, the island became a colony of Great Britain, and in 1978 gained independence. The main revenues of the jurisdiction bring the tourist and financial / offshore sectors of the economy. Legislative act of the International Business Companies Act (1996), which has been in force in the Commonwealth of Dominica since 1996, establishes a complete exemption of companies from taxation. located also in the Caribbean region of the Republic of Dominica (Dominican Republic), which is a Spanish-speaking country with a larger territory and population.

  • Basic information about jurisdiction

    Area – 751 sq. кm
    Population – 72.000
    Government – republic
    Capital – Roseau
    Official language – english
    Official currency – carribean dollar (XCD)
    Time zone – GMT–4

  • Company type

    International Business Company (IBC)

  • Directors of the company

    Amount: at least one
    Status: natural or legal persons
    Residents: residents of any country
    Information about directors: only with a registered agent
    Nominee directors: allowed

  • Shareholders of the company

    Amount: at least one
    Status: natural or legal persons
    Residents: residents of any country
    Information about directors: only with a registered agent
    Nominee shareholders: allowed

  • Secretary Company

    There are no requirements for the position of secretary

  • Authorized capital of the company

    Standard authorized capital - 5.000 USD.
    There are no requirements for payment of this capital or part thereof.

  • Company name

    Must end with the words '' Incorporated '', '' Corporation '',   '' Limited '' or the abbreviations '' Inc. '', '' Corp. '', '' Ltd. '', '' S.A ''.   Registration of names containing the words '' Bank '',   "Insurance '', '' Trust '', '' Assurance '', '' Imperial '', '' Royal '', etc.,   allowed only if you have the appropriate licenses.

  • Information about the real owner of the company

    Information about the real owner of the company is submitted only to the registered agent and is confidential.

  • Annual Return

    Requirements for the submission of the annual report is not put forward.

  • Financial Statement

    Requirements for the submission of a financial statement is not put forward.

  • Taxation

    Taxation of companies IBC – 0%. 

  • Double tax treaties

    The Dominica jurisdiction has no double tax treaties concluded with other countries. 

  • The term of registration of a new company

    6-7 business days; The term of receipt of the full package of documents is 5-6 weeks.

  • Acceptance of third-party companies for service FIVECONSULT

    Only in consultation with the previous service agent in the Commonwealth of Dominica.

  • A set of constituent documents of the company

    1) Memorandum and Articles of Association signed by the first founders of the company (Subscribers);

    2) articles of association / Memorandum and Articles of Association, signed by the first founders of the company (Subscribers);

    3) director appointment protocol (Appointment of First Director);

    4) Minutes of the First Meeting of Directors (Minutes of First Meeting of Directors);

    5) two blank (blanco) general powers of attorney (General Power of Attorney), signed by the nominee director;  

    6) confirmation of the nominee director of the transfer of the company to its real owner (Agreement for the provision of nominee services and indemnification of the nominee);  

    7) the nominal director's Resignation letter, signed, but without a date;  

    8) share certificates (Share Certificates) signed by the nominee director;  

    9) company stamp.

  • "Ready-made" companies

    Buying '' ready-made '' companies is possible. Shelf companies are usually available.
  • FIVECONSULT comment:
    The Commonwealth of Dominica has a good infrastructure and optimal legislation for International Business Companies. Therefore, if it is necessary to use an offshore company from infrequently used jurisdictions, the Commonwealth of Dominic is undoubtedly one of the recommended options.

Services 

Contacts 

Latvia: +371 66 555 091
England: +44 20 37 69 18 36