Page 76 - Caribbean-Central America Profile 2018

DOMINICA

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

INVEST DOMINICA AUTHORITY The Citizenship by Investment Programme Canefield Industrial Estate
The Invest Dominica Authority is an Authority has been operating since 1993 and is legally • Approximately 2 miles from Woodbridge
established by an Act of Parliament in 2007 to entrenched in the Dominican Constitution and Bay Port.
undertake Government’s mandate of promoting the Citizenship Act. • Next to Canefield Airport.
investment into Dominica, assist local and foreign
investors and perform other functions as are Under current regulations, to qualify for • 30 miles from Melville Hall Airport.
necessary for the development of the economy. citizenship under the Citizenship by Investment • 14 acres in size.
The Invest Dominica Authority is managed by a Program, the Government requires either:
Board of Directors which is responsible for the Picard Industrial Estate.
general administration of the Authority. • a contribution made into the Government • Location: Portsmouth.
Fund amounting to USD100,000 depending
Invest Dominica Authority on the number of dependents included in the • 27 miles from Woodbridge Bay Port.
1st Floor Financial Centre application or • 25 miles from Canefield Airport.
Roseau, Dominica • an investment in designated Real Estate with
Tel: 1-767 448 2045 a value of at least USD 200,000. • 15 miles from Melville Hall Airport.
Fax: 1 767 448 5840 • Next to Portsmouth Harbour.
Email: info@investdominica.dm Additional payments for any dependents • 33.596 acres in size.
included in an application, due diligence fees,
INTERNATIONAL FINANCIAL government fees and other fees are also payable. Hertford Industrial Estate
SERVICES • Location: Jimmit.
Companies registered under the International The Citizenship by Investment Unit (CBIU) is
Business Companies (Act No. 26 of 1996) are the Government Authority that deals with all • 6 miles from Woodbridge Bay Port.
exempt from the payment of taxes, duties, and matters regarding Citizenship by Investment • 4 miles from Canefield Airport.
similar charges for a period of twenty (20) years in the Commonwealth of Dominica. The Unit • 24 miles from Melville Hall Airport.
from the date of incorporation. The Financial exercises strict regulatory controls over the
Services Unit of the Ministry of Finance is Program and is dedicated to streamlining the • 12.413 acres in size.
the agency responsible for all International process for applicants seeking to obtain the
Business Companies. citizenship of Dominica. The Unit ensures the TRADE AGREEMENTS AND
Financial Services Unit highest professional standards and is committed INVESTMENT TREATIES
• Dominica has income tax treaties with
Ministry of Finance to strict enforcement of the regulations. CARICOM countries, the United Kingdom
5th Floor Financial Centre Citizenship By Investment Unit (CBIU) and the United States, the latter as a result
Kennedy Avenue, Roseau 1st Floor, Financial Centre, of the original 1957 Income Tax Convention
Commonwealth of Dominica Ministry of Finance
Tel: (767) 448 2401 Kennedy Avenue, Roseau between the United Kingdom and the United
Fax: (767) 448 0054 Commonwealth of Dominica States and extended to Dominica.
Email: fsu@cwdom.dm Tel: (767) 266 3919 • Multilateral Agreement - World Trade
Email: cbiu@dominica.gov.dm Organisation
CITIZENSHIP BY INVESTMENT • Free Trade Agreement - CARIFORUM -
Dominica runs one of the world’s most reputable Website: http://cbiu.gov.dm
Citizenship By Investment (CBI) Programs. European Community
It invites investors of good character to make INDUSTRIAL ZONES Dominica is also a member of:
an economic contribution to Dominica and in There are no Free Trade Zones in Dominica. • Organisation of Eastern Caribbean States
exchange, should they meet strict legal and other However, there are three industrial estates all (OECS).
requirements, the applicant and their family can owned by the Government of Dominica, and
obtain full citizenship of the Commonwealth of managed by the Agricultural Industrial and • Association of Caribbean States (ACS).
Dominica. Development Bank of Dominica: • African Caribbean and Pacific States (ACP).

Starting a Business - Registration Requirements:
No: Procedure Time to complete: Costs
1 Search for a company name and reserve the proposed name Less than one day (online procedure) XCD 25
2 Lawyer verifies affidavit 2 days XCD 2,125

3 Registration with the Commercial Registry 2 days XCD 750 (registration fee)
4 Apply for tax payer identification number and register for VAT 7 days no charge

5* Register as employer with Social Security Institute Less than one day (online procedure) no charge
* Takes place simultaneously with another procedure Source: The World Bank Group

B-40 Caribbean-Central American Action