Offshore business in Dominica:

Dominica is a Caribbean island located in the Atlantic Ocean and which is often confused with the Dominican Republic. But Dominica is indeed an independent state and belongs to the Commonwealth and the official language is the English. Also, the Dominican tax authorities are tax friendly with all entities willing to do business out of the archipelago and encourage you to register your corporate there by not taxing your offshore profit ie by doing business only out of their territory. Also, its very business oriented legislation because based on the English model is flexible and modern which is a strong asset and motivated many foreign investors to move their business into this jurisdiction.

There are many benefits to open an offshore bank account or to incorporate an offshore company in Dominica. The main ones are listed below:

• No VAT
• No corporate tax (during the 20 first years of existence of your company)
• Banking secrecy (100% discretion)
• Non disclosure of the identity of business owners

We could also highlight that being a relatively young and unknown offshore place, Dominica generates less suspicion from the European tax authorities. But still, to invoice and then to get paid by a company belonging to the European Union or a big international group will be difficult…

At FCBA Offshore Ltd, we recommend to open an offshore bank account or incorporate an offshore company in Dominica only for people not having any business relation with any European companies. Also, the six hours time difference with Europe could prevent you from establishing an efficient daily contact with your bank.

To open an offshore bank account or to incorporate an offshore company in Dominica is something easy for us and we could enjoy our network and partnerships with local banks to you.

Finally, be aware that the initial deposit of your offshore bank account required by banks is quite low and should therefore by no means be a drag for you to open your offshore bank account.

Please if you need any additional information feel free to contact FCBA Offshore Ltd team members.