Dominica Offshore Companies: Dominican Corporation Formation Services

About The Dominica IBC

Forming an IBC in Dominica, is just like very other International Business Company has its Attributes, advantages and disadvantages. A number of offshore jurisdictions exist to serve the needs of individuals seeking to form a tax exempt company structure. As mentioned earlier, each jurisdiction may have some positive attributes and detractions as well. One positive attribute about the Dominica (not the Dominican Republic) is that the main language of the country is English. The benefits are obvious, if someone is interested in using an offshore company to actually run a business or conduct business with another English speaking country. In the light of the fact, Dominica is English speaking country, and therefore common law country - a trust can be formed to complement an IBC as well.

The International Business companies Act of the 26th of June 1996 brought about the formal introduction of the Dominican IBC. Since that time, additional legislation in 1997, 2000, and 2001 has made Dominica a favored domicile for both individual investor and companies alike. Here are some of the characteristics of an IBC in Dominica and the benefits this country offshore legislation has to offer.

Language

English is the official language of Dominica and therefore all legal documents are drafted in English. For some individuals this is an important point when looking for an offshore IBC.

Name of the Company

Any name can be selected that is of course if it is not currently in use or registered to another company. The word "limited", "Sociedad Anonima", or "Societe Anonyme", "Corporation", or "Incorporated" or the related abbreviations for the above terms must be part of the name of every company incorporated under the Dominican IBC Act.

However, no company shall be incorporated under this Act under a name that contains the words "Assurance", "Bank", "Building Society", "Chamber of Commerce", "Chartered", "Co-operative", "imperial", "Insurance", "Municipal", "Royal", "National", or "Dominica" or any word conveying a similar meaning, or any.

Directors

One good aspect of Dominica IBC in that one director and one shareholder are sufficient to register a company. Unlike some other jurisdictions that may require three persons to be named as directors.

shares may be issued in bearer or registered form. Regardless of the method, there is no registration process with respect to shares nor is there disclosure in the public record or gazette of the company shareholders.

Other Key Points regarding Dominica IBC

While there are many positive things to say about the Dominican IBC, in reality, it may not be for everyone. One key point to be highlighted regarding the Dominica IBC legislation is that an offshore company (IBC) may not carry on any banking, insurance or other financial activities which would make it a financial institution under Dominica law.

Dominica IBC does enjoy the right to earn interest from local bank account - tax free. It also has a special exemption from Dominica taxes - but only for twenty years. After twenty years, all tax exempt status disappears.

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Dominica Offshore Company

About The Dominica IBC

Language

Name of the Company

Directors

Shares

Other Key Points regarding Dominica IBC