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Cost: 1760 USD

Consultation

IBC in the Commonwealth of Dominica with Full Nominee Service and Apostille

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The Commonwealth of Dominica is not just a paradise with beautiful nature but also an excellent offshore financial center. 

The Commonwealth of Dominica should not be confused with the Dominican Republic located in the same region. The Dominican Republic is radically different: it is a Spanish-speaking country that occupies a large area.

IBC in the Commonwealth of Dominica

The Commonwealth of Dominica – History and Present

The Commonwealth of Dominica (commonly referred to as Dominica) is a small (751 km2) island state in the Caribbean Sea. Before 1896, Dominica was a colony of Great Britain. It changed its status in 1958 to become a member of the West Indian Federation for four years, and in 1978 it finally became an independent country.

The economy of the Commonwealth of Dominica was highly vulnerable in the second half of the twentieth century as it depended heavily on agriculture. No one thought back then that Dominica would soon become one of the offshore business centers and create extremely attractive conditions for IBCs registration (with full nominee service and apostille!).

Starting from the 1980s, the governments of the Commonwealth of Dominica were constantly changing, and measures were taken to diversify the economy. The focus was on industrial exports (clothing, electronics) and financial technology, while agriculture was partly affected. As a result, tourism, services for wealthy people, as well as offshore businesses have developed rapidly. 

The main trading partners for exports are Japan, the United Kingdom, Jamaica, and the United States, while most of the imports come from Japan, the United States, China, Trinidad and Tobago.

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The Commonwealth of Dominica and Offshore Business (IBCs)

The government is actively stimulating the offshore sector of the economy and the development of financial services. 

Before 2022, the Commonwealth of Dominica was a classic offshore jurisdiction, and the registration of business companies (especially IBCs) was especially popular and brought substantial income to the country’s budget. The fact that a 30% corporate tax was introduced on December 31, 2021, does not change much: Dominica is still considered one of the offshore business centers even though it is no longer a formally offshore territory.

Despite its small size, the Commonwealth of Dominica has an active privacy policy. The information about shareholders and directors of companies is not publicly available. The Register of Companies contains the Certificate of Incorporation, the Articles of Association, the Memorandum of Association, and amendments to them.

Documents required by law to be kept at the registration agent’s office:

  • Minutes of the First Meeting
  • Minutes of Appointment of the IBC’s First Director
  • Registers of Directors/Shareholders
  • Share Certificates
  • Register of Pledge of Movable/Immovable Property
  • Declaration of Beneficial Owner
  • Copies of passports of directors/shareholders/beneficial owners

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Once again, the information on IBC’s offshore business in the Commonwealth of Dominica is confidential and not subject to disclosure. Outsiders or organizations can only access them by court order!

If you think that a registration agent can breach your confidentiality, we will allay your doubts: the Dominica Companies Act provides for a fine of $25,000 and 2-year imprisonment for disclosing any information about the offshore IBC.

Let’s look at the automatic exchange of tax information. The Commonwealth of Dominica has concluded relevant agreements with 18 countries (see below), but don’t take this fact as a negative one. If there were none, the Commonwealth of Dominica would be under strong pressure from international financial regulators, and IBCs would be forced to look for semi-legal “gray” schemes for doing business.

Countries with which tax information is automatically exchanged:

  • Australia
  • Belgium
  • UK
  • Germany
  • Greenland
  • Denmark
  • Iceland
  • Canada
  • Netherlands
  • New Zealand
  • Norway
  • Faroe Islands
  • Portugal
  • USA
  • Finland
  • France
  • Sweden
  • Republic of South Africa

Registration of an IBC company in the Commonwealth of Dominica As the Gold Standard for Offshore Business

Offshore Pro Group offers you to become the owner of an International Business Company (IBC) in the Commonwealth of Dominica. The special feature of our offer is a full nominee service and an apostille, which solves many problems at the stage of company registration. It is the nominee service (which is absolutely legal in the Commonwealth of Dominica!) with engagement of private persons that ensures the highest possible level of confidentiality and full legitimacy of doing business for an IBC.

If you need an even higher level of anonymity for your offshore business, citizens/tax residents of a third-party jurisdiction may be selected as nominees. This offer was developed by our experts in the light of the latest global trends in the business/economy deoffshorization and the hunting season for beneficial owners whose start was announced. 

If you register an IBC in the Commonwealth of Dominica, you will also be able to open an account with a bank (neo-bank, payment system) of any suitable jurisdiction with the help of our experts. You can contact us for free advice on selecting an offshore or foreign bank account even before you register a company in the Commonwealth of Dominica.

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Free consultations with experienced experts of the International Wealth portal on all issues related to the selection of bank accounts:

CONSULTATIONS FROM THE EXPERTS OF THE INTERNATIONAL WEALTH PORTAL

Key Features of IBC in the Commonwealth of Dominica

The main characteristics are in many ways similar to those found in any tax-free jurisdiction, but what about Dominica’s status? It cannot be called an offshore jurisdiction after 2021, can it? 

You are right in formal terms. However, if we look at overall characteristics, the Commonwealth of Dominica is an offshore jurisdiction with a corporate tax. This means that IBC registration remains profitable, and the long-term forecast is positive.

Minimum (basic) conditions:

  • a registration agent is mandatory
  • at least 1 shareholder
  • at least 1 director
  • a secretary is optional
  • a registered office is required (your agent’s address can be used)
  • there are no requirements for the minimum authorized/issued share capital
  • the recommended authorized capital of an offshore business company in the Commonwealth of Dominica is USD 5,000, but no obligation to pay it up is imposed
  • submission of accounting/audit reports is not required
  • nominee service is officially allowed. Therefore, if you do not want to get into the public eye, the third-party director and shareholder will help you remain anonymous
  • bearer shares are permitted
  • the name of an offshore IBC in Dominica must end with the following mandatory combinations/abbreviations: Incorporated, Corporation, Limited, Inc., Corp., Ltd., S.A.
  • registration of offshore company names containing the words Bank, Insurance, Trust, Assurance, Imperial, Royal, etc., is limited (a special license is required)

The IBCs registered in the Commonwealth of Dominica are not entitled to own real estate within the jurisdiction territory or conduct banking, trust, or insurance activities without a corresponding license. Nor are they permitted to do any business with residents of the Commonwealth of Dominica.

Documents that Confirm Registration of an Offshore Company in the Commonwealth of Dominica

There are no surprises or pitfalls if you cooperate with us. You get a full set of required documents, so you can immediately start an offshore business in the Commonwealth of Dominica without any restrictions.

Here is the package of documents that we will prepare for you:

  • Certificate of Incorporation for an IBC in Dominica
  • Articles of Association and Memorandum of Association for an IBC in Dominica
  • Subscriber’s Resolution Appointing First Director
  • Minutes of the First Board Meeting
  • List of Directors, Register of Directors
  • Register of Shareholders
  • Share Certificate(s) in your name or in the name of a nominee shareholder if you order a Nominee Share Certificate
  • Declaration of Trust (when a nominee shareholder’s services are used for an additional fee)
  • Resignation Letter of the nominee director (signed but without the date)

You also receive the seal of the offshore IBC in the Commonwealth of Dominica and a set of (stitched) apostilled documents. It seems to be a very profitable offer, doesn’t it? No wonder it is in high demand. The “all-in-one” format spares you a lot of additional hassle and makes it possible to immediately start an offshore business.

Services included in the invoice:

  • registration of an international business company and preparation of a set of documents for it
  • payment of all registration fees
  • payment for the registration agent’s services (for the first year of IBC’s operation in the Commonwealth of Dominica)
  • payment for the registered address (for the first year of IBC’s operation in the Commonwealth of Dominica)
  • delivery of all company registration documents to the provided address

IBC Registration (Incorporation) Procedure in the Commonwealth of Dominica

You can control all stages of registration or may as well rely on our experts: this will not affect the final result. 

Many customers want to know how the procedure is technically carried out and what actions they will need to take. You can find out all the details and nuances from our experts, while this article contains only a brief algorithm of actions.

Recommended procedure:

  • Evolve from pure interest to a decision that you need to register an IBC in the Commonwealth of Dominica and get a package of additional services (nominee service, apostille). This is the most important stage as it is likely to change your entire life. It must therefore be responsible, well thought out, and supported with adequate financial reserves. You can ask any questions by writing to us at [email protected] (alternative communication channels).
  • If you are satisfied with our terms and conditions, pay for the services (available options). Mind that you can always contact our experts to discuss the transactional channel not available in the current list. If the registration of an offshore international business company in the Commonwealth of Dominica requires additional costs (which does happen sometimes), we will discuss the situation with you and offer options to solve the problem.
  • After the money is charged to our account (1760 USD including the commission), all you have to do is to wait a little. We will prepare all the required documents, submit a request for offshore company registration in Dominica, get in touch with the official bodies of the Commonwealth of Dominica and control all stages of the official procedure.

Package of Documents for IBC Registration in the Commonwealth of Dominica

We will provide a standard list of required documents, so all you have to do is to collect them. 

The minimum package of documents for an offshore IBC registration in the Commonwealth of Dominica with full nominee service and apostille:

  • a notarized copy of a foreign passport or other acceptable ID (pages with a photo and signature)

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Don’t get discouraged if your notary refuses to certify a copy of the foreign passport (this happens from time to time when you are registering an offshore company, and not just in Dominica). Just order a translation into English from a sworn translator and attach it to a copy of the original (page with a photo and signature), and then certify it with a notary.

  • proof of residential address (utility bills)
  • a notarized copy of the utility bill or a bank statement to confirm the residential address

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Make sure that this document is no older than 3 months by the time we submit the package of documents for IBC registration, and it must also be translated into English and notarized.

  • a company name to your liking (there are restrictions, so please ask our experts to provide you with relevant additional information)
  • contact information (the address where we can send the documents to your new offshore IBC in the Commonwealth of Dominica)

Basic Items of Expenditure

So, that’s what the company registration in the Commonwealth of Dominica looks like. Now is the time to focus on our special anti-crisis offer which includes the registration of an IBC in the Commonwealth of Dominica, as well as full nominee support and apostille (just to remind you, the cost of the service is 1760 USD).

All-in-One registration service includes:

  • state registration fee
  • certificates
  • Share Certificates
  • registers
  • a package of apostilled and certified copies of documents ordered during the registration of an offshore IBC in the Commonwealth of Dominica
  • services of the nominee director (natural person), including copies of ID documents and utility bills
  • an apostilled power of attorney
  • services of a nominee shareholder (natural person), including copies of ID documents and utility bills
  • Declaration of Trust

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The cost of offshore international business company registration in the Commonwealth of Dominica includes courier delivery of a final package of documents to any specified destination!

Annual registration fees:

  • government taxes and registration agent fees – USD 500 
  • nominee service fee (per one person) – USD 700
  • signing of documents by the nominee (per each document) – USD 100
  • apostille with notarization – USD 150
  • notarization – USD 50
  • Certificate of Good Standing – USD 100
  • Certificate of Incumbency – USD 150

The most popular additional services ordered with registration:

  • Change of IBC’s name – USD 350
  • Amendment to the Memorandum and Articles of Association of the offshore company – USD 300
  • Change of director – USD 150 
  • Change of shareholder – USD 200

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We would like to remind you, dear readers, that the Commonwealth of Dominica has ceased to be a classic offshore jurisdiction since 2022. Starting from December 31, 2021, IBCs will have to pay a corporate tax of 30%!

Please take a look at other free consultations provided by our experts:

Seek advice and start incorporating your company now, and we will provide you with the best offshore products and nominee service. Contact us at [email protected] 

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