Advantages of Setting Up a Company in Dominica

  • No tax is imposed on capital gains for offshore companies in Dominica.
  • No real estate tax imposed on offshore companies in Dominica.
  • Dominica provides tries to facilitate the procedures for the owners of companies.
  • Board members and shareholders may be individuals or commercial entities. Therefore, the director of the company can be another company.
  • There is no residency requirement for managers and shareholders. Therefore, these persons or entities can reside anywhere in the world.
  • The Board of Directors meeting is not required for the company in Dominica.
  • Dominica offers many corporate tax benefits.

Also read: A Simplified Definition of Commercial Law

Necessary Procedures for Setting Up a Company in Dominica

  • The company must be registered through an agent.
  • The company needs to work with an accredited agent to complete the incorporation memorandum as well as the list of board members.
  • After that, the agent submits the registration to the governmental office responsible for registering companies.
  • The company receives the certificate of incorporation from the governmental office.
  • The company presents the certificate of incorporation to the tax authority in order to obtain the taxpayer number.
  • To complete the incorporation process, if the company has employees in Dominica, the company must register as “an employer” with the Social Security Corporation.

Also read: The Most Important Branches of Commercial Law

Types of Companies in Dominica

  • Private limited liability company.
  • Public limited liability company.
  • Non-profit company.
  • Foreign company.
  • Branch of a foreign company.
  • Representative office.

Also read: The Importance of Having a Commercial Lawyer Before Starting Your Investment