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Dominica is a medium-sized island that can be found in the Eastern Caribbean, between Martinique, on its south end, and Guadeloupe, on the north side. Known officially as the Commonwealth of Dominica, its growing population now boasts of about seventy-thousand people. Most of the individuals living in Dominica reside in its capital city of Roseau. One of the best things about the island is its central location in the Caribbean, which makes it a fantastic access point to the islands surrounding it.
In Dominica, English is the official language. This helps to make it an easier jurisdiction for many business owners to communicate. It also offers many business friendly options to offshore investors from the United States and abroad, such as the ability use the company to open bank accounts in many countries in the Caribbean, Europe, Asia, and others. Furthermore, many offshore investors have found that Dominica has been an ideal place in which to form corporations since it offers much to offshore company owners looking to incorporate in a business friendly, convenient and beneficial jurisdiction.
Dominica provides several different opportunities that allow business owners to succeed and hold assets securely and privately. Stability in government is certainly a plus, as the Democratic government in Dominica is not only strong but interested in allowing for offshore investors to incorporate on its shores. For example, Dominica’s laws focus on offering offshore corporations both privacy and security when performing business in its jurisdiction.
Furthermore, to incorporate in Dominica typically costs far less than incorporating a company or limited company in other jurisdictions. Forming an offshore bank account in Dominica is also traditionally less costly as well.
Dominica’s Corporate Privacy and Asset Protection Possibilities
Dominica bases its offshore legal regulations on the International Business Companies Act of 1996. By using the IBC Act to base its legislation standards, many benefits are thus offered to offshore corporations that are formed in this jurisdiction. Some of these benefits focus on corporate asset protection strategy as well as privacy for those owning and managing the offshore corporation. Furthermore, the incorporation process itself in Dominica is incredibly smooth and organized, granting a good deal of confidentiality to shareholders because of the IBC Act, section 12 as you will see next.
There exists a certain level of legislative importance around the IBC Act, section 12, for corporations forming in Dominica. This importance has to do with the confidentiality promised to owners, officers, directors, and the like participating in offshore corporations in this jurisdiction. Privacy is guaranteed unless something occurs, such as potential criminal activities. If so, evidence of such must be submitted and a court order must be issued. In general, though, the Beneficial Owners, or shareholders, of a Dominica corporation are not shared with the public. With the benefits of privacy, as well as speedy and an affordable incorporation process, Dominica emerges as a beneficial place for investors to form an offshore corporation.
Benefits of Incorporating in Dominica
There are several benefits open to limited company (corporation) owners choosing to incorporate in Dominica. These include:
How to Incorporate in Dominica
A business owner wishing to incorporate in Dominica must abide by the following steps:
With so many benefits and an easy incorporation process that is both efficient and affordable, it is easy to see why many savvy business owners select Dominica as a jurisdiction with which to incorporate. Not only does Dominica offers many tax benefits and corporate freedom to its offshore businesses, but it also provides substantial privacy and confidentiality benefits to both directors and shareholders. Furthermore, with a stable and democratic government, and a legal and regulatory process that is friendly to offshore corporations, more and more international investors are likely to flock to this region to incorporate.