Commonwealth of Dominica

COMMONWEALTH OF DOMINICA Companies @Eur2.150

Please be advised that we can offer you Commonwealth of Dominica International Business Companies (IBCs) at a cost of USD$ 2.150 (which includes the following: Incorporation, Government Fees, First Year Annual Fees, Registered Agent/Office, Nominee Directors/Shareholders, Apostilles, Certificate of Good Standing, DHL Delivery).

CORPORATE FEATURES

GENERAL
Type of Company
IBC
Political Stability
Good
Common or Civil Law
Common
Disclosure of Beneficial Owner
No
Migration of Domicile Permitted
Yes
Tax on Offshore Profits
No
Language of Name
English
CORPORATE REQUIREMENTS
Minimum Number of Shareholders
One
Minimum Number of Directors
One
Bearer Shares Allowed
Yes
Corporate Directors Permitted
Yes
Company Secretary Required
No

GENERAL INFORMATION:

The Commonwealth of Dominica is an English speaking country located in the Eastern Caribbean, between Martinique and Guadeloupe. (It has been confused with the Dominican Republic, a wholely different Spanish-speaking island).

The population of Dominica is approximately 72,000. The capital city is Roseau. The country's infrastructure is good with excellent water, power and communications. There are direct dial facilities worldwide via fibre optic undersea cable; and Internet and data transmission facilities are readily available.

Dominica has been called the "nature island" of the Caribbean. Forests cover over 60% of the country and the hills and valleys are spectacular. There are over 365 rivers and the country has hot springs and the world's largest boiling lake which endows it with tremendous potential for geo-thermal energy and/or spa development.

The benefits of going offshore are numerous and below we have shared with you some of those benefits: (a) Tax avoidance - considerable tax savings in onshore territory. Although there is in the United States the legal requirement to report holdings in offshore companies to the local tax authorities, no matter how restrictive these rules may be a greater tax savings may be achieved by the use of an offshore company rather than a company incorporated in one's country of residence;

(b) Achievement of financial privacy - In Dominica, it is an offence punishable by fine or imprisonment for a bank or trust officer to divulge personal details about a customer without his express permission. At any rate the affairs of an offshore company can only be enquired into where its principal is found guilty of a criminal offence in his country of residence and that offence is an offence for which he would have been criminally liable in the offshore jurisdiction had the same been committed there.

(c) Asset Protection - As a shield against harassment or vengeful lawsuits. Having your assets in an offshore company almost always makes its principal a more difficult target for a lawsuit and this is especially true if the shares in the offshore company have been placed in a trust. Three things are accomplished:
  1. The price of any assault on your assets is raised as the adversary is forced to sue in both the onshore and offshore jurisdictions which may be time consuming and costly, thereby reducing his eagerness to sue
  2. Most often than not the offshore jurisdiction creates an environment less friendly to harassment and frivolous lawsuits and may reduce the litigant's chances of success
  3. The lowering of your profile . Corporate tax returns, credit reports and other financial information may be readily available to the prospective claimant onshore. However the layers of financial privacy in the offshore jurisdiction, the value of the offshore corporation- or even that it exists - will not be easy to obtain
(d) Minimization of inflation, currency and political and economic risks by way of currency diversification - As many of the banks in this jurisdiction allow for multi- currency accounts and transactions a company may have any account that it wants to have and in any currency. This is in fact a diversification of assets among as many dollar- bloc, Deutschemark-bloc, and yen-bloc currencies as is desired;

(e) Avoidance of currency, capital and exchange controls allowing free movement of money across national borders - Establishing a network of offshore bank accounts owned by an IBC will create an international financial infrastructure capable of moving funds in any currency anywhere in the world. Any exchange control regime imposed in the home country will thereby be circumvented;

(f) Protecting property against confiscation in forfeiture proceedings;

(g) Use of the offshore company as a vehicle in estate planning- This provides a source of income for the beneficiaries or successors -in -title upon the demise of the principal of the IBC;

(h) Limiting personal liability;

(i) Raising capital through the sale of stock. The regulations governing this kind of transaction tend to be less burdensome in the offshore jurisdiction;

(j) Transferring ownership- The shares held in an IBC may be easily sold and confidentially so. So where the company has issued bearer shares, an anonymous transfer of ownership occurs every time the shares pass from one set of hands to another;

(k) Reducing real estate transaction costs - As offshore companies can own real estate, should it decide to part with ownership in same, upon a closing it can avoid registration fees, stamp duties and notary fees by transferring the shares in the corporation as opposed to title itself;

We present Dominica as a premier jurisdiction more particularly so as it possesses those qualities that good jurisdictions should possess, those being:
  1. No tax
  2. Political and economic stability
  3. Absence of exchange controls, currency controls or capital controls
  4. Absence of tax treaties
  5. A welcoming governmental attitude
  6. Modern incorporation laws
  7. Simple incorporation procedures
  8. Excellent communications and transportation
  9. Good banking and professional services
  10. An English Common Law System
  11. English as the language of choice
  12. Strict secrecy and confidentiality codes
  13. Minimum corporate disclosure requirements
  14. A central geographical location

FINANCIAL STATEMENTS REQUIRED

There is no requirement to file accounts with the authorities, but a company is required to keep financial records that reflect the financial position of the company.

DIRECTORS

The minimum number of directors is one. The directors may be natural persons or corporate bodies. They may be of any nationality and need not be resident in Anguilla.

COMPANY SECRETARY

Not required, but normally appointed.

SHAREHOLDERS

The minimum number of shareholders is one.

Commonwealth of Dominica IBC's @Eur2,150

Commonwealth of Dominica IBC's @Eur2,150 Package includes Incorporation, Government Fees, First Year Annual Fees, Registered Agent/Office, Nominee Directors & Shareholders, Apostilles, Certificate of Good Standing, DHL Delivery


Central & South American Jurisdictions