Dominica company registration

DOING BUSINESS IN DOMINICA IN 2018

Since 2003, Healy Consultants Group PLC has assisted our Clients with business registration in the Commonwealth of Dominica. Our services include i) Dominica company incorporation ii) government license registration iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.

Summary table of Dominica company registration

SummaryLegally tax exempt LLCTax resident LLCFree zone LLCInternational foundationTrust
Also known asIBCSRLFTZ CompanyPrivate foundationInternational / Offshore trust
Best use of company?Trading with global customersOnshore companyManufacturing and export tradingTax planning and charitable activitiesAsset protection
How soon can you invoice Clients\sign sales contracts?3 weeks3 weeks3 weeks4 weeksCannot trade
How soon can you hire staff?3 weeks3 weeks3 weeks4 weeksCannot hire
How soon can you sign a lease agreement?1 week1 week1 week1 weekCannot lease
How long to supply corporate bank account numbers?2 months2 months3 months2 months2 months
How long to supply entity registration \ tax numbers?3 weeks3 weeks3 weeks4 weeks4 weeks
Corporate tax rate on annual net profits?025%000
Limited liability entity?YesYesYesYesNo
Government grants available?NoYesYesYesNo
Government approval required for foreign owners?NoNoNoNoNo
Resident director/partner/manager/ legal representative required?NoNoNoNoNo
Minimum paid up share capital?US$100US$1US$100,000US$1US$10,000
Can bid for Government contracts?YesYesYesYesNo
Corporate bank account location?National Bank of DominicaRBCScotiabankFirst Caribbean BankStandard Commerce Bank
Can secure trade finance?YesYesYesYesNo
VAT payable on sales to local customers?Cannot trade locally15%15%Cannot trade locallyCannot trade
Average total business set up engagement costs?US$9,450US$8,450US$11,600Contact usContact us
Average total engagement period?2 months2 months3 months2 months2 months

Dominica company registration summary

Press the link headings below to read detailed, relevant, up to date information.

  • Advantages of Dominica company registration

    Dominica business registration guides

    1. A minimum of one shareholder and one director are required for Dominica company formation. The shareholder and director need not be residents in Dominica, and can even be the same person. Corporate shareholders and directors are permitted;
    2. The minimum capital requirement to complete Dominica company registration is US$1, which must be fully paid-up. No par value shares are not permitted under Dominican company law;
    3. There is no public register of shareholders, directors or beneficial owners with Dominica company formation, thus preserving Client confidentiality. In accordance with Section 112 of Dominica’s IBC Act, it is an offence for anyone to reveal any information regarding a Dominica corporation, except when related to criminal activity being investigated in Dominica itself. Breach of this law comes with a US$15,000 fine and two years in prison;
    4. No company secretary is required for a Dominican IBC, but a registered agent is compulsory;
    5. Following Dominica company setup, no annual audited financial statements are required. Therefore, it is convenient and cost effective to maintain a Dominica company in the long-term;
    6. Dominica is a member of the Organization of Eastern Caribbean States, along with Anguilla and several other nations in the region. Learn more about the OECS and the role of this regional organization on our blog;
    7. Dominica company formation is a legitimate corporate structure which, when properly structured, can house international tax-exempt profits. A Dominica company is also legally exempt from withholding tax, capital gains tax and value added tax (VAT);
    8. Dominica is not perceived as corrupt, ranking as the 39th least corrupt country in the world, according to Transparency Corruption Perceptions Index 2014;
    9. Healy Consultants can open a corporate bank account to support Dominica company formation in the jurisdiction of your choice. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered, and Citibank to provide corporate bank account services.
  • Disadvantages of Dominica company registration

    1. Dominica company formation may be perceived as a tax haven structure, increasing the risk that international banks’ compliance departments reject bank account opening applications from Dominican IBCs;
    2. A Dominica IBC cannot undertake banking, trust, and insurance or re-insurance business without prior government approval. In addition, it cannot own local property;
    3. Dominica company formation is a relatively time consuming and tedious process. According to the World Bank’s Doing Business 2016 Survey, Dominica poorly ranked as the world’s 91st easiest place to do business in the world, its greatest difficulty in ‘registering property’.

Company registration

  • Time to incorporate: Two weeks
  • Cost to set up: US$8,450
  • Minimum capital: US$1
  • Physical office required: No

Required appointments

  • Shareholders: 1
  • Directors: 1
  • Registered agent: Yes
  • Resident director: No

Key facts

  • Corporate tax rate: 30%
  • Corporate tax base: Territorial
  • Shelf companies: Unavailable
  • Main company type: IBC

Select corporate structure
Business set up guide
Second passport option
Business set up strategy
Frequently asked questions
Compare similar South American countries
Corporate support services

Contact us

For additional information on our company registration services in Dominica, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
Caribbean Community (CARICOM) central bank of the dominican republic dominica-tourism invest dominica authority government of the commonwealth of dominica