Dominica is a jurisdiction that offers favorable conditions for opening offshore companies, banks and providing financial services. Businessmen who will work all over the world may find the option of establishing a company in Dominica particularly suitable.
Main forms of legal and business presence in Dominica
If you consider the possibility of having a presence in Dominica, you can actually organize your business activities in one of the following forms:
International Business Company (Offshore) - a vehicle that can be created even by a single person (natural or legal) of any nationality to operate through Dominica. Authorized share capital of 100 USD is required in this case without any obligation to repay it at the time of establishment.
Private limited liability company - a legal entity that can be established even by one person (natural or legal entity) of any nationality. Liability in this case is limited to the amount of the contribution made. There are no requirements for the formation of authorized capital. However, for some types of regulated activities, such as banking, the exact amount of share capital may be required.
Joint stock company - a company intended primarily for the inclusion of additional financing, which can be established by a person of any nationality (natural or legal entity), whose liability is limited to the amount of the contribution made. There are no general requirements for share capital in this case either. However, there are more complex requirements for the management and reporting of the company.
Branch - an option that allows foreign companies to establish their presence in Dominica and carry out the same types of activities there as abroad.
Registration requirements and steps
Opening a company in Dominica may require going through the following pre-registration steps:
Clarifying your business goals.
Choosing and checking a company name for a future entity.
Collecting data on founders, beneficial owners and management of a future legal entity.
Preparing and formalizing regulatory documents.
Actually ensuring the registration of a new company.
Registration for tax and social security purposes.
Obtaining additional licenses and permits (required for certain types of activities, such as banking, financial services).
The actual registration process may vary depending on the exact conditions of business operation.
Legal and Regulatory Framework
The local legal framework is generally favorable to international business.
Dominica's legislation is based on British common law.
The main legal acts regulating the process of establishing and managing a business are the Companies Act and the International Business Companies Act.
The main regulatory authorities are the Companies and Intellectual Property Office, the Ministry of Finance and Investment.
Advantages of the Jurisdiction
If you intend to establish a company in Dominica, you can potentially benefit from the following advantages that the jurisdiction offers offers:
Moderate costs for establishing and maintaining the company
Political and economic stability
Confidentiality of corporate data
Guaranteeing the security of owned assets
No mandatory audit requirements
Favourable tax system.
Dominica Tax System
If you are considering setting up a company in Dominica, you may need to be aware of the following tax highlights:
Corporate tax rate - 25%
Personal income tax rate - 15-35% (depending on income)
VAT rate - 15%
Withholding tax rate (dividends/interest/royalties) - 15%
Capital gains tax rate - not applicable
Offshore companies are tax-exempt in Dominica for twenty years.
How our experts can help
Let's say you are evaluating setting up or purchasing a company in Dominica. In this case, the lawyers of "Smart Startup UK" are ready to put this option into practice by providing legal support for the following aspects of business registration in Dominica:
Request and collect all data and documents for opening a business in Dominica;
Choose the name and in the interests of the client, all negotiations are conducted by us with local authorities and banks;
We arrange the legal address, accounts and employees, as well as all necessary documents for applying for the future company;
We provide comprehensive legal support for the further functioning of the new legal entity in Dominica.
The portfolio of specialists of "Smart Startup UK" is formed by more than 8,000 cases in the field of registration and support of international business. Our lawyers will apply this experience to the goals of your project.
CREATE A COMPANY
Company name check and reservation
Company registration, including government fees
Obtaining an administrative identification number
Registering the company with government agencies
Writing a company charter
A set of company charter documents in electronic form
Bank contribution for the company's authorized capital
Obtaining a foreign investment permit
Opening an account at: Barnett Capital Bank, National Bank Of Dominica
Opening a personal bank account
Apostille and translated corporate documents
Obtaining a residence permit
Free consultation
Assistance with online trading and opening an account at viva.com for online trading
Accounting services - 12 months
Accounting services
Annual renewal 1200 Euro (paid from the second year)
*Within 35 days
IMPORTANT! We can provide you with the initial share capital (if the amount is over 5000 Euro) for registering your company in the form of a loan from our company.
Please, if you are interested, make an inquiry to us.
What is the procedure!
1. You submit an application for company registration through the application form.
2. We check whether the company name for registration is free and eligible for registration.
3. Choose a bank that meets your company's needs from a list of Smart Startup UK partner banks.
4. We send you a proforma invoice for payment to our bank account + the amount for your company's initial capital.
5. You receive all the necessary company documents for reconciliation.
6. You receive details of your newly opened bank account.
7. Within the specified period (for Dominica it is 45 days) you receive all the services included in the package.
8. You can manage all the services included in the package through our platform, as our team works 24/7 and you can get help from us within up to 30 minutes. We have built an internal ticket system for our customers, through which we process each of your support requests.
All services such as management, accounting, bank account opening requests, licensing, tax return filing, tax payment and others are carried out through your account on our platform, making it easier to manage your business!
