TAX HAVEN DOMINICA
About Dominica
The Commonwealth of Dominica is known as "The Nature Island of the Caribbean" owing to its extravagant, lush, and varied flora and fauna and a diverse wildlife population including over 100 species of birds. Dominica's extensive forested lands are protected by a network of wide-ranging natural park systems. Dominica is by far the most mountainous island in the Lesser Antilles. This small island in the middle of the chain of Caribbean islands covers an area of just 290 sq miles, and is home to a modest population of 70,000 including 3000 indigenous Kalinago (Carib) Indians.
For decades, Dominica was one of ten biggest exporters of citrus and bananas produce. With increased competition and loss of special tax treatment for the banana industry, Dominica had to look to diversify, turning to tourism and offshore services sector with company incorporation, offshore bank licensing (formation) and a strong economic citizenship program.
Dominica is one of two countries offering legitimate economic citizenship (without a residency requirement) program. Under this program there are two main options for citizenship - Family or Single option where applicants pay a non refundable contribution to special development projects in exchange for citizenship. Second citizenship can prove to be an invaluable option for many who need a second passport. Dominica passports facilitate visa free travel to over 100 countries. Click the link for more information about Dominica Economic Citizenship.
Tax Haven Dominica is a politically and economically stable jurisdiction with an advanced communication system and modern infrastructure. The legal system is based on British Common law, after Dominica remained under British rule for many years, eventually gaining independence in 1978. The Head of State is the President, the head of government is the elected Prime Minister supported by a cabinet appointed by the president on the advice of the prime minister.
Dominica Company Formation
In Dominica the offshore service sector is a vital part of the country economy, and the administrators of this offshore tax shelter take a leading approach in offshore services; offshore income is tax-free; there is no currency control for an offshore company (Dominica IBC); there are neither capital gains nor inheritance tax; privacy is guaranteed under the law. As many offshore jurisdictions have had recent unfavourable changes to their offshore laws, Dominica is a choice tax haven becoming the new home for offshore companies moving from the Bahamas and other offshore jurisdictions.
Offshore companies in Dominica are formally formed as International Business Companies, but also referred to as Dominica offshore corporations or Dominica offshore companies or Dominica IBC. Dominica companies can be used for any legal purposes anywhere in the world and are guaranteed a minimum of 20 year tax free status which protects investors from potential amendments to the laws over this period. Go to our offshore company registration packages to see affordable company prices.
Dominica Offshore Legislation
Offshore legislation in Dominica:
Dominica International Business Companies (IBC) Act 1996
Offshore Banking Act 8 1996
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