Off-shore Companies: Dominica

IBC Formation:
Dominica has one of the most recognized offshore business center, bringing an excellent service at low cost in a fast way.
At the time of forming a company it could be created under any name given by you, but you have to make sure that the provided name is has Latin characters and its permitted to include a second name in other languages but it must contain any disrespectful or insulting language, and it should be unique because if its similar to another company name it would be rejected.
The last part of the chosen name for the company as always end with a legal suffix such as: Corporation, IBC, S.A., Societe Anonyme, Ltd, Sociedad Anonima, Incorporated, SL", "GMBH", "SARL", and others.
It is prohibit to use any names denoting any connection to local, state or national governments, universities, political parties or professional organization.

Legislation
At the time to look for a place to put your trust, Dominica provide you with the security they have of being protected under a legal system strict and international recognized which is the International Business Legislation established in IBC Act of 1996. This laws offers a progressive legislation with flexible structures to the companies and with efficient incorporation of them.

IBC Structure
Only one director or shareholder are required for the company’s formation.
Shareholder(s) and director(s) may be the same person.
The shareholder(s) and director(s) can be a natural person.
There is no requirement of resident secretary.
Directors
All of the IBCs in Dominica can have one or more person or corporate directors and they can be of any nationality. Without the needs of any statutory meetings to be held you can have them all or do business activities not being in the country at distance.
Taxation
In Dominica the IBCs are tax exempt for a period of twenty years of offshore jurisdictions for foreigners around any commercial activity or commercial transactions made outside the country.
Privacy
The shareholders  protection is guaranteed which is one of their priorities at the time of doing business, the names will not be published in the public records.

Records/Books
By law a Dominica IBC should keep accounting records that are able to explain all the transactions of the company and will be enable to show the position of the company with reasonable accuracy.

The books and records will not be show in the public records it should be kept at the registered office of the company.