Offshore · Company formation
Company formation in Dominica
Founders who want a low-cost, low-maintenance offshore holding vehicle and can live with the reputational and banking friction that comes with a Dominica IBC.
At a glance
- Entity
- International Business Company (IBC) under the International Business Companies Act — the standard vehicle for non-resident founders; a domestic company under the Companies Act is the alternative for locally-trading businesses
- Corporate tax
- Standard corporate income tax is a flat 25% on worldwide profits. An IBC earning only foreign-source income is treated as exempt (0%) on that income under the IBC Act, but this is under sustained EU/OECD scrutiny and is contingent on meeting economic-substance and record-keeping obligations — treat the exemption as conditional, not automatic, as of 2026
- Incorporation time
- ~1-3 business days to incorporate once KYC clears; allow ~1-2 weeks for legalised documents and courier delivery
- Minimum capital
- No minimum paid-up capital; authorised capital is customarily stated at US$100 (no statutory floor)
- Resident director
- No resident director required. Minimum one director and one shareholder, any nationality, individual or corporate, resident anywhere. A Dominica-resident registered agent and registered office are mandatory
- Audit
- No statutory audit requirement for an IBC and no obligation to file audited accounts; the company must nonetheless keep financial records that reflect its position
- Remote set-up
- Yes — formed entirely remotely through a licensed local registered agent; no personal visit or local notarisation needed. Agent-run KYC/CDD (certified passport, proof of address, source-of-funds) applies and is the main gating step; meetings may be held anywhere or electronically
- Government fee
- US$90 (XCD 243) registration fee to the Companies & Intellectual Property Office (CIPO); thereafter a US$150 (XCD 405) annual government fee on the incorporation anniversary, plus a US$250 (XCD 675) annual registered-agent fee
- Best for
- Founders who want a low-cost, low-maintenance offshore holding vehicle and can live with the reputational and banking friction that comes with a Dominica IBC.
The process
- Engage a Dominica-licensed registered agent and complete KYC/CDD; reserve the company name with CIPO (US$25 / XCD 67.50)
- Agent files the Articles of Incorporation and pays the US$90 registration fee to CIPO
- CIPO issues the Certificate of Incorporation; agent prepares the memorandum, registers, share register and director/shareholder appointments
- Maintain the registered office/agent and pay the annual government and agent fees; keep records to satisfy economic-substance rules, then open banking
What can go wrong
- Dominica's CBI passport programme has drawn heavy international criticism, and Dominica has appeared on EU/OECD monitoring lists — the jurisdiction carries real reputational baggage that affects how counterparties and banks view an IBC
- Opening a bank account for a Dominica IBC is the hard part: many banks decline offshore IBCs outright, and the process is far slower and less certain than incorporation itself
- The tax exemption is not unconditional — economic-substance, record-keeping and beneficial-ownership requirements apply, and an IBC that trades with Dominican residents or holds local real estate loses IBC status; verify current substance rules with the agent before relying on 0%
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Form a company in Dominica?
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