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Dominica

Dominica Flag

Country: Dominica
Region: Caribbean
Currency: East Caribbean dollar (XCD) (EC$)
Languages: English
Time Zone: UTC -4

Phone Code: +1767

Communications: OK

Formation Cost: 900 - 1500 USD$
Formation Time: 4 - 14 days
Maintenance cost: 300 - 700 USD$

Executive Summary: Dominica is an island nation in the Lesser Antilles region of the Caribbean Sea, between Guadeloupe and Martinique. The 75 square km island is characterised by a rugged, mountainous landscape of volcanic origin and a tropical climate moderated by north east trade winds, although it experiences heavy rainfall. The population is approximately 73,500 (July 2014 est.) Dominica became a British colony in the 18th century, gaining independence from the UK in 1978. As a result of these historical links to Britain, the official language is English and the legal system is based on English common law. The Dominican economy has been dependent on agriculture - primarily bananas - in years past, but increasingly has been driven by tourism as the government seeks to promote Dominica as an "ecotourism" destination. Moreover, Dominica has successfully developed an offshore medical education sector. In order to diversify the island's economy, the government is also attempting to develop an offshore financial industry and plans to sign agreements with the private sector to develop geothermal energy resources. Fiscal incentives are provided under various laws to encourage the establishment and expansion of both foreign and domestic investment.

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Vehicle Types: Limited liability companies, individually-owned limited liability companies, corporations and simplified corporations

Capital primary business districts: Roseau

Good Relationships: Canada, China, France, United Kingdom, United States

Bad Relationships: Burma, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Heavy

Tax Burden - Individual: Heavy

Headline tax rates: CIT 30%, PIT 15%-35%, VAT 15%

Treaty Jurisdictions: None

TIEA Jurisdictions: Australia, Belgium, Canada, Denmark, Faroe Islands, Finland, Germany, Greenland, Iceland, Ireland, Netherlands, New Zealand, Norway, Poland, Portugal, South Africa, Sweden, United Kingdom, United States

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