1. What is a Dominica IBC?
A Dominica IBC is also known as a Dominica International Business Company or International Business Corporation. Other terms also apply such as offshore company or non-resident company. The IBC legislation in Dominica provides for tax-free income to the IBC which is guaranteed for 20 years. The offshore company cannot conduct business or investments in Dominica.
2. Are there complicated forms to be filled in order to form an IBC in Dominica?
No. You will need to fill a simple online form, specially designed for persons who have never owned a corporation before. The form can be completed and sent to us online, by fax or by telephone.
3. Is the information I give to you confidential? What about my proof of identity?
For proof of your identity, you must provide one picture identity document, such as: a current valid passport or current valid national ID card or current valid Social Security Card or current and valid driver's license. A clear copy of one of these may be faxed or scanned and emailed to us.
Your identity documents which you send to us will be kept in the strictest confidence and protected under the laws of Dominica, with a penalty of imprisonment and/or a fine. We may only reveal such information if you are suspected of doing something illegal and a court order requires us to reveal the information.
4. When I have incorporated my Dominica offshore company, are there any other fees or costs of which I should be aware?
Yes. Every company has to pay a small annual government fee. This fee is due from the start of the second year and every year thereafter. Also Dominica requires all IBC's to have a registered office and registered agent in Dominica. These fees are commonly referred to as maintenance fees and are not expensive. You may go to our 'Fees and Packages' page to find what the annual cost is.
5. Can I get an offshore bank account for a Dominica IBC?
Yes you can. We are an official agent for most of the banks which we can introduce to you. The banks which we recommend are all secure and reliable banks. We will be happy to assist you in obtaining your offshore account, most of which provides internet banking and secure debit cards.
6. What am I required to do to open an offshore bank account for my IBC?
We only assist in opening bank accounts for our IBC clients. We will FedEx your company documents to you after the incorporation. We will include a bank application form and signature cards. Once you have filled this simple application and attached the required reference and ID document and signature card, you should send this package to the bank. You account will be opened shortly after they receive the documents and are satisfied that everything is in order.
7. Is it possible to transfer my IBC which is registered in another jurisdiction to Dominica?
Yes. Dominica accepts the redomiciliation of IBC's, once the original jurisdiction accepts redomiciliation. If they don't, we could easily register a new IBC for you in Dominica. We also have on hand, ready-made shelf and vintage companies for immediate delivery. These shelf and vintage companies have never been used and the annual maintenance fees are paid.
8. If circumstiances change and I change my mind about the offshore company, can I get at least a partial refund?
Once the incorporation form has been completed and the company paid for no refund is possible. These funds would have already been used for the incorporation fees and other services provided.