If you are looking to incorporate the five flags theory of diversification residency, citizenship, banking, assets and business, it is time you consider Dominica, a leading offshore tax haven that is low cost and speedy.
- As an offshore jurisdiction, Dominica has much to offer. As a place to live or visit, this mountainous island is known for its unparalleled beauty.
- A major effort by the Dominican government in recent years has been to promote eco-tourism. The Dominican climate is tropical and the country is located in the midst of a string of fascinating, multicultural islands that make up the Eastern Caribbean.
- The Dominica economy, once overly-dependent on agricultural products, has diversified to include small industry, geothermal energy production, tourism and offshore investing. The Government has, over a period of nearly two decades, established a number of incentives for investors.
- The rules and regulations by which a Dominica offshore company can be established and operated are very favorable, include solid privacy laws and a highly-streamlined process for setting up a Dominica International Business Company (IBC). Additionally, it may be possible to obtain a Dominica offshore banking licence as the government is keen to develop its financial sector.
- Last, but not least, Dominica has the world’s least expensive official economic citizenship program, giving expatriates the opportunity to be granted Dominican citizenship.
Benefits of Dominica Offshore Company Formations
- English is the language of business and government and is the day-to-day language in the country.
- Tax-free status is available to companies locating from abroad. A Dominica IBC enjoys a tax vacation for a minimum of 20 years with a total exemption from income and capital gains taxes, withholding taxes, transfer taxes and stamp duties on income received from outside the country.
- Dominica is not a party to any double-tax treaties.
- Dominica has close diplomatic and economic ties with the other nations and territories in the Eastern Caribbean along with the US, the UK and the EU.
- Offshore companies located in Dominica are protected by strict confidentiality laws enforced by the Dominican government. There is no requirement to file or publish annual returns for this type of a Dominica corporation.
- Establishing an IBC requires a minimum of one director and one shareholder. Directors/shareholders may be individuals or corporations, an annual general meeting is not required and directors/shareholders do not need to reside in Dominica.
- The country lies within a 2-hour flight to the US mainland and is only 1 hour removed from the Eastern Time Zone.
- The Government has put in places processes that make setting up an offshore Dominica company easy; registration can in fact be done over the Internet. CIPO, the Companies and Intellectual Properties Office is very helpful in this regard.
- The Government offers legally mandated Dominica economic citizenship to those seeking a secondary passport. Offshore investors can gain full citizenship through the Dominica Citizenship Program in exchange for a cash investment.
- Foreign investors are allowed to repatriate 100 percent of their profits.
- Maximum confidentiality with respect to Dominica offshore investments and International Business Company operations is assured by Dominican law.
- The US and Dominica have a cooperative relationship with the US supporting the Dominican Government’s efforts to expand its economic base.
- Dominica boasts a year-round tropical climate. Its lush forests, mountains, waterfalls and rivers make the island a paradise for both the eco-tourist and the expatriate. Dominica has a lower crime rate than most other Caribbean nations. Tourism is encouraged.
Offshore Bank on property