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Dominica Company Formation

The Commonwealth of Dominica belongs to a group of islands known as the Leeward Islands which comprise part of the Lesser Antilles island chain. Better known islands in the group include Anguilla, Antigua and Barbuda, Guadeloupe, Montserrat, St Kitts and Nevis, the British Virgin Islands, and the US Virgin Islands. It is important not to confuse Dominica with the Dominican Republic. Dominica is a separate country altogether and the official language is English as opposed to Spanish in the Dominican Republic. For four years between 1958 and 1962 Dominica was a member of the West Indies Federation and the island gained independence in 1978. In 1980 Mary Eugenia Charles became the first female Prime Minister in the Caribbean. The population of Dominica was estimated to be 72,660 in 2009. The legal system, which is based on British Common Law and a constitution which enshrines human rights and liberties, ensures the future political stability of the island. One factor of importance for UK and European clients is that the Commonwealth of Dominica is an independent sovereign jurisdiction and is not affected by UK and EU legislation.  Although Dominica is a relatively new offshore jurisdiction it is rapidly becoming an important offshore finance and incorporation centre in the region.

Company Formation

The Dominica International Business Companies Act came into effect in June 1996 and regulates the incorporation and administration of International Business Companies (IBC's). Any name can be chosen that is not already registered. The word "limited", "Sociedad Anonima", or "Societe Anonyme", "Corporation", or "Incorporated" and the related abbreviations for the above terms such as Ltd, Inc and Corp must form part of the name of every corporation which is incorporated under the Dominican IBC Act.  The only name restrictions concern words such as Bank, Board, Commonwealth, Dominica, Federal, Government, Govt, Insurance, patent or patentee, Royal, Trust and a few other sensitive words.

Company Structure

Advantages and Restrictions

The primary advantages of forming a company in Dominica include the following.

The only restrictions on the activities of an IBC are outlined below.

The law in Dominica prohibits a local IBC from conducting business with a resident of Dominica although it can undertake the activities below:

Privacy

Section 112 of the IBC act makes disclosure an offence punishable by a fine of US$25,000 and imprisonment for two years of anyone who reveals confidential information regarding a Dominican Corporation except by order of the Dominican Courts, any order granted would be issued only if it was relating to serious criminal activities which does not include taxation matters.

Privacy is further enhanced because Dominica has a closed corporate registry which means that directors and shareholders details are totally confidential.

Incorporation fees
Total company set up cost $1275.00 / £795.00 / €950.00
Normal ongoing maintenance cost after the first year  $895.00 / £595.00 / €750.00
Annual fee for 2 nominees or managers, if required  $475.00 / £300.00 / €375.00

If you require an internet domain registration to accompany the formation click here


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(International +44 20 7175 0041)
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(INTERNATIONAL +1 954 866 5986)
Australia and New Zealand+61 2 9191 7472
(INTERNATIONAL +61 2 9191 7472)
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