Success tips when doing business in Dominica in 2023
- During a business meeting, maintaining eye contact is very important since it shows interest and respect to your Dominican business partners;
- If invited to a Dominican’s home, it is recommendable to bring gifts like chocolates or pastries. The gifts should not be in black or purple since Dominicans consider them as mourning colors;
- Dominicans are open and direct in communication. It is common to ask personal questions (e.g. regarding family or age) during a business meeting. However, talking about politics and religion should be avoided;
- It is recommendable to have one side of your business card printed in Spanish. The business card should be presented with the Spanish side facing the recipient;
- Dominicans prefer relationship building in business. Therefore, hard selling and pressure tactics will not work.
Did you know about Dominica?
- The Island of Dominica, shaped like a tobacco leaf, is located in eastern Caribbean;
- Dominica belongs to a group of islands known as the Leeward Islands which are part of the Lesser Antilles island chain;
- The Commonwealth of Dominica has an estimated total population of 72,660 people (as of July, 2009);
- The Island has had more than 30 years of democratic governance, a great example in the Third World, where there are few democratic states;
- Agriculture, with bananas as the principal crop, is still Dominica’s economic mainstay;
- Boiling Lake, in the Morne Trois Pitons National Park, is one of the world’s largest thermal lakes;
- Today, three thousand Carib Indians live in the tropical forest of Dominica;
- The Sisserou Parrot (one of largest parrots on planet), Dominica’s national bird, is one of the several species of exotic birds that can be found in the tiny island of Dominica.
Frequently asked questions
Is it easy to open a corporate bank account in Dominica?Healy Consultants can open a corporate bank account with internationally recognized banks to support Dominican company formation.
Am I required to visit Dominica to incorporate a company there?No. Healy Consultants can legally incorporate your Dominican company without you needing to travel.
What is the minimum number of directors required for a Dominican company?A Dominican company needs a minimum of one director.
Is a resident director required?A director is not required to be a resident in Dominica.
What is the minimum number of shareholders required for a Dominican company?A Dominican company requires a minimum of one shareholder.
Are shareholders available for public viewing?No, there is no public register.
What are the minimum capital requirements for a Dominican company?A Dominica company requires only US$1 minimum capital.
What is the problem of setting up a Dominican company?Setting up a company in Dominica may be perceived as a tax neutral structure.
Is a Dominica company required to submit an annual return and / or financial statements?A Dominica company has to submit annual tax returns.
How much tax does a Dominica company pay?A properly structured Dominican company is tax exempt from international profits.