Dominica
Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Dominica.
Foreign Ownership Eligibility
Dominica welcomes 100% foreign-owned companies
Fully remote formation — you never need to set foot in the country.
- 100% foreign ownership permitted in most sectors
- Legal system: Common Law (English tradition)
- Primary registration authority: Companies Registry Dominica
- Registry website: https://www.companies.gov.dm
- Tax authority: Inland Revenue Division Dominica
- Corporate income tax (CIT): 25% - Source: CIT: 25% (Dominica IRD). VAT: 15%.
- VAT / sales tax: 15%
- Estimated formation timeline: 5-10 days - Via Companies Registry. Source: IRD Dominica
- Annual compliance and renewal obligations apply
Ownership
100% Foreign OK
Formation
100% Remote
Tax at a glance
Dominica Tax Overview
25%
Corporate Income Tax (CIT)
CIT: 25% (Dominica IRD). VAT: 15%.
15%
VAT / Sales Tax
CIT: 25% (Dominica IRD). VAT: 15%.
Inland Revenue Division Dominica
Tax Authority
https://ird.gov.dm
Pros & cons
Advantages & Considerations
Key Advantages
100% foreign ownership permitted in most sectors
Legal framework: Common Law (English tradition)
Primary registry: Companies Registry Dominica
Tax rate: 25% CIT
Incorporated company has access to Dominica market
Considerations
Local professional guidance recommended for regulatory compliance
Banking KYC requirements can be extensive - allow time for account opening
Professional services market may be limited compared to major financial centres
Verify sector-specific restrictions before investing
Currency risk: XCD fluctuations may affect USD-denominated investments
Incorporation Process
The process is strictly digital. Each stage builds on the previous one.
Name reservation
Prepare incorporation documents
Submit registration application
Tax registration
Open corporate bank account
What you'll pay
Cost Architecture
Government Fees
Annual Ongoing
Professional Services
Government fees change frequently. Always verify current fee schedule at https://www.companies.gov.dm before committing.
Still unsure about costs?
These are estimates — your actual cost depends on your structure
Every Dominica setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.
Fintech & Banking
Can non-residents open accounts without visiting? NO.
Banking options for non-resident founders in Dominica. Remote account opening availability varies by institution.
| Institution | Type | Ease for Non-Residents | Notes |
|---|---|---|---|
| National Bank of Dominica (NBD) | Traditional bank | Low (Visit Required) | |
| First Caribbean International Bank Dominica | Traditional bank | Low (Visit Required) |
Regulatory requirements
Annual Compliance Matrix
| Requirement | Deadline | Details |
|---|---|---|
Annual company filing | Ongoing | File annual returns with Companies Registry Dominica to maintain good standing. |
Corporate income tax return | Ongoing | Submit annual CIT return to Inland Revenue Division Dominica. Rate: 25%. |
VAT filing | Ongoing | VAT-registered businesses file periodically. Rate: 15%. Verify threshold with Inland Revenue Division Dominica. |
Accounting records | Ongoing | Maintain statutory books per Common Law (English tradition) requirements. |
Beneficial ownership disclosure | Ongoing | Verify current UBO requirements in Dominica. |
Frequently Asked
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