Starting with January 1st 2019, all IBCs incorporated in Dominica have become taxable by the Dominican Government.
Under this consideration, GWS Group will no longer be offering incorporation in Dominica. Please contact our team for further information.
The Commonwealth of Dominica, in the Caribbean Sea, is an island of the Lesser Antilles, south-southeast of Guadeloupe and northwest of Martinique.
The parliamentary democracy, with its population of 72,000 (2011 Census), has emerged as an offshore jurisdiction during recent years, offering high confidentiality and privacy standards. The national legislation allows offshore company formation within the IBC model. Dominica is no party to any double taxation treaty.
The island nation is an attractive offshore jurisdiction, as it offers no corporate taxation – just a governmental annual fee. The nation provides a minimum twenty (20) years tax exemption for offshore companies, beginning from the day of incorporation. Companies are not required to file accounts. The following suffixes are, inter alia, possible and indicate a limited liability: Ltd, Corp, Inc, SA, NV or GmbH.
The government encourages the development of an offshore financial-services sector, including company and bank registration and internet gambling. The beneficial ownership will not be disclosed to authorities.