The Commonwealth of Dominica, which is actually a Republic, is famous as the “nature island of the Caribbean.” First of all, it should not be confused with the Dominican Republic, a much larger Spanish-speaking country. 

Unlike many tropical islands, Dominica does not have golden sand beaches, being a volcanic island more famous for its lush, green vegetation. Dominica the most mountainous island nation in the area, where you can enjoy natural hot springs and tropical rainforests. Morne Trois Pitons National Park is where you will find the volcanically heated, steam-covered Boiling Lake. To the west is Dominica’s capital, Roseau, a colonial city with colorful timber houses and botanic gardens. Tourism in Dominica is upmarket and boutique, rather than relying on mass tourism.

In terms of business, Dominica used to be known for IBCs (Dominican IBCs = International Business Corporations) but these were phased out during 2020 and there are no longer any tax exemptions for Dominica IBCs. Please be careful of out of date information that is prevalent on the internet.

Dominica does however have three attractive features for the offshore investor, all of which Offshore Pro Group can help you with:

• Dominica Citizenship by Investment – one of the longest established second passport programmes in the Caribbean region and also one of the quickest and cheapest, that contributes a major part of the country’s GDP.
• Dominica Residence by Investment – this is a new programme, launched in 2021, aimed at entrepreneurs who would like to spend part of the year on the island and benefit from a fast track naturalization programe.
• Dominica Bank Licensing: Dominica today is one of the easiest places to set up an offshore bank. Ready made, off-the-shelf banks are usually available.

For further information on Offshore Pro Group services in the Commonwealth of Dominica, please contact us today!