Dominica Tax Free IBCs

Dominica is an independent democratic republic located in the Eastern Caribbean Sea. It is possibly best known for its scuba diving and stunning nature reserves (60% of the island remains forested). A former British colony, Dominica gained independence from Great Britain in 1978 yet retains a parliamentary system of government based on the Westminster model. With English as its official language and an entrenched British based system of law Dominica has become increasingly popular as an International Offshore Financial Centre since the inception of its Offshore industry in 1996.

 

Key features and benefits include:

  1. Name Availability: As a relative newcomer in the International Financial Services Market there is a wide choice of available company names in Dominica.

  2. Political Independence: An independent member of the Commonwealth Dominica does not have any information sharing treaties with either the US, or any of the EU G9 members (Germany excepted) and is effectively immune from the challenges posed by the EU savings tax directive.

  3. Zero Tax: IBCs registered in Dominica are not liable to pay tax on business profits locally and the State guarantees this exemption for 20 years.

  4. Assured Privacy: There is no public register of Directors or Shareholders in Dominica.

  5. Nominees Permissible: Nominee Shareholders and Professional Directors are permissible in Dominica and another Company can act as Nominee.

  6. Bearer Shares permitted: Bearer shares are permitted in Dominica although they must be kept in safe custody at the company’s registered office.

  7. Asset Protection: The law in Dominica restricts the ability of foreign authorities to confiscate or seize assets owned by an IBC incorporated in Dominica.

Other features include:

  1. Minimal Paperwork – There is no requirement to file an annual return for an IBC registered in Dominica and no financial or business records need be kept at the Company’s registered office.
  2. Good Communications – Dominica is serviced by providers offering state of the art technology in terms of telecom and internet communications.
  3. Financial Stability - As a member of the Eastern Caribbean economic community Dominica boasts a stable currency and good balance of payments history.
  4. Flexibility - Only one Director and Shareholder is required and board meetings can be held anywhere in the world.

Every effort has been made to ensure that the details contained herein are correct and up-to-date, but this does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission