Dominica - independent republic situated in the Caribbean Sea. Official language - English. The legislative system is based on the Laws of England. National currency is Dominican Peso (DOP).

Dominica

Corporative legislation Act of International Business Companies' 1996 Form of tax-exempted company International Business Company (IBC), hereinafter - company Authorized business activities All and any activities not prohibited by the law Providing of banking, insurance, and re-insurance. Trust services are subject to special license Prohibited activities Transactions with the residents of Dominica, ownership of real estate on the territory of Dominica Taxation Company is exempted from all and any taxes and duties for 20 years Registration of company Have to sign a contract with registration agent when registering, and to hand a copy of beneficiary owners' passport Name of company The name must not be identical or confusingly similar to the existing ones The name has to include the words Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Gesellschaft mit beschankter haftung or abbreviations Ltd., Corp., Inc., Gmbh, SA Words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust Company, Trustee Company or other words with similar meaning cannot be used in the name of the (IBC) Company Who executes the foundation documents? At least one signatory who nominates the first director is required Equity capital of the company Establishment of equity capital of the company by declaration, no mandatory contribution is required and no minimum/maximum limits are set Recommended equity capital 1000 USD, divided into 1000 shares with par value 1 USD Shares Authorized emission of both registered and bearer shares with or without par value Shareholders - Minimum number - Nominal shareholders - Holders of trust equities One natural or legal entity or bearers' shares Permitted Permitted Does the law provide for non-disclosure of the information? - About actual owner of the company - About bank operations Yes Yes Directors - minimum number - nationality and citizenship - status One natural or legal entity No requirements All the rights apart from those falling into the exclusive competence of shareholders (determined by articles of association) On the territory there has to be: - registered office - registered agent Required Required Holding of the meeting of shareholders/directors Meetings may be hold in any part of the world, also by means of telephone communication Minutes can be stored anywhere Mandatory - keeping of accounting records - annual account - presentation of auditor's conclusion No No No Information at disposal to the third party Name of the registered agent and registered office; incorporation documents; register of shareholders and directors Documents kept at the registered office No requirements Agreements on exemption from double taxation None Currency control No Term of incorporation 3 weeks Costs of registration of company Look for: Costs of registration and service Financial year ending on Look for: Annual support of companies Possibility to purchase a ready-made company Yes, look for: Ready made companies