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Dominican republic

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The optimistic nature of the local people attracts thousands and thousands of tourists every year as well as a large number of traders and entrepreneurs. Start your company right here – in a tax and real paradise.

Every successful entrepreneur is looking for ways to save time, how to save money, how to get anonymity and other essential benefits.

The Dominican Republic can cover all the main requirements for your business, for example:

  • Easy creation of a new company
  • High level of anonymity
  • Full tax exemption
  • Flexible legislation
  • Cheap establishment and cheap maintenance of the company
  • No need to travel

Advantages of setting up an offshore company in the Dominican Republic

  • Running a company in Dominica is really easy! The company doesn't have to keep records of its activities, doesn't have to submit tax returns, isn't subject to audit… This means minimal paperwork for you! And maximum comfort!
  • In addition, establishing a company in Dominica is relatively quick and does not require extensive documentation.
  • When you incorporate a company in Dominica, your business will be exempt from all taxes for a period of twenty years from the date of incorporation.
  • Of course, there is a minimum capital required here as well. However, it is a formality rather than a significant investment item.
  • Minimum registered capital is $100.
  • Flexible Dominican legislation offers many possibilities to use your offshore company – discuss it with one of our agents.
  • To establish a company, one shareholder and one director are required, neither of them need to be a citizen of Dominica. They can be both legal entities and natural persons.
  • The registry of companies in Dominica is not publicly accessible, but it is still strongly recommended to use nominee services for maximum anonymity. Nominees are basically people who help you with some major points in your business.

Offshore Dominica – Utilization

  • Offshore money management and investments
  • Production and transportation
  • Trading, marketing and distribution
  • Trading in Forex and Stocks
  • E-commerce, Internet trading
  • Provision of professional services
  • Employment for overseas employees
  • Online casino and other gaming systems (license required)
  • Suitable for boat ownership
  • As well as for the ownership of real estate, movable property and intellectual property.
  • There is no restriction for directors and shareholders to hold a general meeting. It can be done in person, by e-mail, telephone or other electronic means.
  • The company can trade in any currency and a bank account can be kept in that currency.
  • Dominica allows re-domicile (relocation of company).

Important warning! Offshore companies only get tax benefits if they do business outside the territory of Dominica. We also often encounter a mistake when Dominica and the Dominican Republic are confused. However, these are completely different states.

Basic information

  • Type of legal entity: IBC
  • Establishment time: 5 days
  • Number of shareholders: minimum 1, can be any nationality
  • Shareholders: members can be FO or business entities
  • Registered capital: minimum capital of 1 USD
  • Shares to bearer: allowed
  • Registered address is mandatory, but does not have to be physical
  • The company secretary is not required, the sales representative is required
  • Directors: minimum 1, maximum not defined
  • Resident position of the director: the director need not be domiciled in Dominica

Taxation

  • Dominican IBCs are exempt from all taxes for at least twenty years
  • Local corporate income tax 25 %
  • Withholding tax from local sources 15 %
  • Local VAT rate 25 %
  • The Dominican Republic has concluded a tax treaty with Great Britain, the United States and the CARICOM countries for the avoidance of double taxation of income earned in Dominica
  • No annual financial statements are required
  • Anonymity and privacy. Information about directors and shareholders is not open in the company register

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