Global Business Service Agency: legal services for business
Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.
The Commonwealth of Dominica is a Caribbean state that has declared itself to the whole world through the possibility of acquiring citizenship for investment. Although there are a number of other 11 states that offer similar conditions for obtaining citizenship, Dominica has become the leader of the 2017 Professional Wealth Management (Financial Time) in terms and opportunities for new residents. However, the special attractiveness of the Commonwealth is preferential conditions for incorporation of business.
Company registration in Dominica: why investors choose jurisdiction
- In Dominica, the company balance can be made up of movable property: yachts, airplanes, cars without paying taxes and contributions.
- The Commonwealth is a party to the double tax avoidance agreement with 11 states. Therefore, firms that conduct activities within the country are exempt from paying fiscal fees in other states of business implementation.
- There is no control over all currency transactions: transaction amounts, currency, recipients.
- High degree of protection of offshore business: according to statistics, the majority of litigations involving offshore companies were decided in favor of incorporation.
- Possibility of duty-free trade for all companies of Dominica with the states of the Coricom Association.
- The registration of offshore companies in Dominica exempts beneficiaries from the tax burden: no VAT, income tax for legal entities, individuals income tax, income repatriation tax, source tax and stamp duty. The company is obliged to pay only fee in the amount of $500.
- There are no requirements for registration and submission of financial statements. There is also no financial audit of the business. The company is obliged to keep all types of reports confirming the entrepreneurial activity only in case of audit at the place of registration (in the jurisdiction) or at the local agent of the company.
What it takes to open an offshore company in Dominica
Staffing structure of Incorporation
To open a company will require one shareholder and director of any nationality, residence, form of management. The participation of nominee shareholders is allowed. The secretary is not required in the company, but in case of his employment it is forbidden to invite a legal entity. There are no rules of meetings of shareholders, places of their holding and protocols confirming the fact of their holding.
Authorized capital of the company
The minimum capital of the company must be at least $100. The maximum capital is not limited by legislation and does not require additional fees. The authorized fund can be nominate in the form of one share in any currency without the payment requirements. All forms of incorporation shares are available, but bearer shares must be kept at the place of registration.
Minimum package of documents:
- Declaration and documents identifying the identity of the beneficiary;
- Documents proving the identity of shareholders and directors (in case of participation of legal entities – copies of corporate documents, notarized);
- Memorandum and charter of association;
- Certificate of incorporation;
- Minutes of the first meeting;
- Resolution on the appointment of the first Director;
- Register of founders;
- Register of collateral property;
- Certificate of shares;
- Printing and apostille.
Only for customers GBS Agency, the cost of opening company in Dominica – from $850, the package of apostilled documentation – from $70, services of nominal service – from $225, and the annual extension of the offshore – from $895.
Would you like to learn more about the possibilities of incorporating in Dominica? Ask for a consultation right now!