Registration of a company in Dominica

Dominica is considered to be a classic type of offshore. The current legislation of the country assumes that companies can be created in various organizational and legal forms. However, firms in Dominica are most often registered by establishing an International Business Company. This approach is due to the special status of such organizations.

Offshore in Dominica: characteristics of the tax system

  The territorial system of taxation is applied on the territory of the republic. Its meaning boils down to the fact that everyone pays fees in favor of the state, regardless of the location of the organization, as well as the activities of individuals. Exceptions are companies that are registered in the country, but operate outside of it.

  Taxes in Dominica, levied on the income of legal entities, have a rate of 25%. At the same time, there are no differences in the organizational and legal forms of enterprises. There is a general rule that a rate of 25% is mandatory for all organizations operating in the country.

  The country has a value added tax rate of 16%.. The total amount of payment of funds in favor of the state is calculated based on the value of goods imported into the country. The amount of insurance is also taken into account. A number of categories of goods are exempt from VAT. This applies to goods of public interest, such as medicines, essential foodstuffs, as well as fertilizers and goods that will be exported in the future.

Opening a company in Dominica with Positive Invest is now easier

 The advantages of doing business by registering an offshore company in the territory of the republic is that the legal status of International Business Company offers entrepreneurs a wide range of activities. This is manifested in the following provisions:

• Opportunity to manage the affairs of the corporation alone. The nominee director of a company may be one or more individuals or legal entities.
• Freedom to issue shares. Bearer shares, division of capital into shares, as well as any other operations with securities are allowed on the territory of the country.
• There are no mandatory norms established in the legislation regulating the full payment of the authorized capital. In addition, its minimum size is also not set.
• Meetings of shareholders of a Business Company can be held anywhere in the world. The same applies to the obligation to maintain tax documentation, which may be located outside the country. The key requirement is to notify the Registrar of the location of the corporation's financial records.
• There is no register of directors and shareholders. Only copies of the charter and constituent documents are kept in the fiscal authorities.
• Complete anonymity of the founder. Despite the fact that the identity of the directors or other members of the company is not disclosed, the client can use the services of a nominee director. This method allows you to protect yourself from the need to personally participate in the affairs of the corporation.
• Preferential taxation system for this form of doing business: no taxes on the company's income if it operates outside the republic, the minimum interest rate for paying interest on dividends.
• State guarantees for the establishment of a unified system of fees for the registration of newly formed companies. Even if this rate changes in the future, previously registered firms will pay annual fees at the previously established rates.