|Main corporate features|
|Type of Company||IBC|
|Type of Law||Common|
|Shelf Company Availability||Yes|
|Company Registration Period||2 days|
|Double Taxation Treaty Access||No|
|Automatic Information Exchange Agreement||No|
|Minimum Paid-Up Capital||US$100|
|Publicly Aсcessible Records||No|
|Board of Directors’ Meeting Location||Anywhere|
|Publicly Aсcessible Records||No|
|Place of holding of Meetings of Shareholders||Anywhere|
|Keeping of records|
|Account Filing Requirements||No|
|Publicly Accessible Accounts||No|
|Recurring Government Costs|
|Incorporation Fee (regardless of share capital size)||US$100|
|Annual Fee (regardless of share capital size)||US$100|
The modern legislative system is based on IBC Act of 1996 (as amended). As per the law provision an offshore company (IBC) registered in Dominica can be engaged in any business activity worldwide.
Type of Company used for International Business and Investments
IBC - Company of the International Business.
Any activity allowed by IBC Act, 1996 (as amended), except for banking, insurance and trust activity.
Obligatory Requirements to Offshore Company
IBC should have a Registered Office and Registered Agent in the Dominica and cannot conduct business operation on the territory of Dominica.
The offshore company is exempted from taxes on 100%.
Authorized Share Capital
There is no requirements to the size of authorized share capital.
Standard Authorized Share Capital is 1,000 USD divided into 1,000 shares of 1 USD each .
There is no requirement for payment of share capital.
No par value Shares
Shareholders and Directors
The minimum number of Shareholders - one (physical or legal person).
The minimum number of Directors - one (physical or legal person).
There is no requirment to the nationality and residence. One and the same person can be director and shareholder.
The secretary in not required by law. It is optional.
Disclosure of Information on the Beneficial Owner and Bank Operations
Information is not available to the third parties.
Meetings of shareholders and directors can be carried out worldwide.
Filing of Annual Accounts
No. However for all companies there is an obligatory requirement to maintain the internal accounting records reflecting a financial position of the organization.
Keeping of Documents of the Company
The place of keeping of operational documentation (resolution, minutes of meeting etc.) of the company is up to the decision of the directors.
The exceptions are registers of directors and shareholders, share certificates and minutes of the first meetings and Directors' appointment which are kept at the legal address of the company (registered address).
Registration Time Frame
IBC can be registered within 1-2 working days.
Shelf Company availability
It is possible "to import" foreign IBC to jurisdiction of Dominica and also Dominica offshore company can be "exported" to other offshore jurisdictions.
The Commonwealth of Dominica is located on a small island in the Caribbean Sea, not far from Martinique and Guadeloupe. This English-speaking used to be a British colony. Today, it is part of the British Commonwealth of Nations and is a member of the Caribbean Community (CARICOM). Traditionally, Dominica's economy is based on agriculture, particularly banana export to the UK under the preferential arrangement, which gradually began to feel the pressure from the GATT, and now from the WTO, so the government of Dominica has decided to focus on other spheres, such as the offshore services sector.
Dominican offshore companies can conduct any business and investment activities and they are completely tax-exempt.