Dominica, officially the Commonwealth of Dominica, is a sovereign island, and a member of CARICOM and the Commonwealth. It is part of the Windward islands in the Lesser Antilles of the Caribbean Sea.
Located between the French overseas territories of Guadeloupe to the north and Martinique to the south. it has an extension of 750 sq. km. and a population of over 72,000 inhabitants. Its capital is Roseau.Dominica’s official language is English, although Dominican Creole French is widely spoken. Its official currency is the East Caribbean Dollar (XCD), pegged to the US$ at a 2.71:1 ratio.
Dominica’s economy is divided between offshore financial services, tourism and agriculture. Its main export is bananas and to a lesser extent, soap, baby oil, vegetables, grapefruit, tamarind and oranges. Its second source of income is tourism, with about 70,000-80,000 visitors per year. Other industries present in Dominica include furniture, cement blocks and shoes. The issuance of postage stamps, mainly intended for philatelic collecting, is also an important source of income for its economy.
Its primary sector is the provision of offshore financial services such as trusts, international company formation, payment processing companies, commercial and investment banking and structured financing, among others. Some of the world’s leading financial service provider are present in Dominica, and its incorporated offshore companies benefit from a full tax exemption, easy accounting and maximum privacy.
Dominica also has one of the most attractive citizenship by investment programs worldwide, whereby through a donation of $100,000 to the government or a $200,000 investment in real estate, you can get a second passport and travel visa-free to Europe, the Caribbean and parts of South America and Southeast Asia.
At Flag Theory, we’re here to help you during every step of your internationalization and structuring plans, and are constantly researching the best global locations to increase your privacy, freedom and wealth.
If you want to set up a company, open a bank account, invest, immigrate and/or obtain residency permits and even citizenship in this Caribbean island, get in contact with us directly for a free private consultation.
What you should consider when setting up a regulated Crypto CFD Brokerage Contracts for Differences (CFDs) are cash-settled OTC derivative contracts which consist of agreements between a given trader and the broker which give the
More Corporate and Tax Legislation Changes of Offshore Companies In the previous letter, we alerted you about the massive legislative changes occurring across all offshore jurisdictions to comply with the OECD’s Base Erosion and Profit
Dominica 2nd passport Dominica made a lot of noise about raising the single applicant contribution from $100,000 to $175,000, but at the last minute backed down. For now, rates remain the same. For more information
What is Dual Citizenship and Why is valuable? What is Dual Citizenship? Dual Citizenship / Nationality is a citizenship status in which an individual is a citizen of more than one country at a time. Why
Complete list of countries to obtain citizenship by naturalization Most countries around the world allow for persons who have lived in a country for a certain period of time to apply for naturalization. It's only
Visas and Second Passport Updates We live in a world where very little is constant. With the changes in technology, slow-moving governments are struggling to keep up. And the bigger the government, typically the slower