Tax and accounting regulations

Summary of Requirements for a Dominica IBC

General Information
Type of Company Non-resident International Business Company (IBC)
Timescale to incorporate 2 working days
Corporate Taxation Nil
Double Tax Treaty Access: No therefore no requirement for exchange of information with other Tax Authorities.
Directors
Minimum No. Required 1, Corporate Directors are permitted
Local Director Required No
Publicly accessible information No
Location of Meetings Anywhere
Shareholders
Minimum No. Required 1, 100% foreign shareholders allowed
Publicly accessible information No
Location of Meetings Anywhere
Company Secretary
Required No
Local Secretary Required N/A
Registered Office / Agent Required Yes
Share Capital
Standard Currency USD
Standard Authorised USD 50,000
Minimum Paid Up Capital No minimum authorised share capital. No minimum paid up capital.
Accounting & Compliance
Requirements to prepare Accounts No
Requirement for Audit No
Local Auditor Required N/A
Requirement to File Accounts No
Requirement to file Annual Return No
Additional Information
Bank Account Opening Eltoma Corporate Services can open a bank account in Cyprus for a Nevis Company without presence. We can also offer bank accounts in a number of other jurisdictions, please contact us for information.

Take the next step, we are here to help.

Register a Dominica company.
Open a Dominica bank account.

  Resources:

 

The Investigation of a Cyprus Company's Affairs: Application of the Law & Effectiveness

At the request of a Cyprus company’s Shareholder, where it is proven that a more comprehensive investigation is required regarding a company’s activities, the court can issue a declaration of investigation by an inspector appointed by the Cyprus Council of Ministers. The discretion of the court must be applied carefully; as such an order can heavily impact a company and depending on the outcome of the investigation, can be a severe measure that deviates from fundamental principles of Cyprus company law.

UK: The Current Problems with Money Laundering & the Violation of Anti-Money Laundering Regimes

UK: The Current Problems with Money Laundering & the Violation of Anti-Money Laundering Regimes

The fact that money can be transferred from one jurisdiction to another means, that money laundering as a concept involves the entire modern world. Money laundering is a process during which the origin and purpose of payments are hidden and typically has three stages.

Director’s Duties & Liability Insurance in Cyprus

Director’s Duties & Liability Insurance in Cyprus

This article will examine the role of a Director and his duties and liability insurance and D&O insurance liability accordingly with reference to the relevant case law.

 

Q&A: Singapore Small Company Concept for Audit Exemption

The following article will answer some commonly asked questions regarding Singapore small company auditing requirements and exemptions from ACRA.

Exemption from Audit: Singapore Small Company Criteria

Exemption from Audit: Singapore Small Company Criteria

Singapore Audit Requirements: running a company in most countries require auditing as a process to prove that everything is operating legitimately. Listed companies have a legal responsibility to go through audit in Singapore similarly.

EU: Cyprus Competitive Advantage at Risk with Tax Consolidation Reforms

EU: Cyprus Competitive Advantage at Risk with Tax Consolidation Reforms

Cyprus is likely to have repercussions as a result of Jean-Claude Juncker ’s favouring of a relaxation in EU regulation formation and monitoring schemes, reinforced by qualified majorities on matters including the additional synchronisation of blanket taxation rates across Europe.

Singapore Service Providers: How to Comply with the ACRA Reporting Requirements

Singapore Service Providers: How to Comply with the ACRA Reporting Requirements

As a result of the ACRA Amendment Act in 2014, Registered Filing Agents and Corporate Service Providers now have to conduct independent Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) reviews as part of their annual audit reviews.

Beginners Guide to Service Level Agreements: Important Information & Q&A

Beginners Guide to Service Level Agreements: Important Information & Q&A

SLAs are a critical component of any outsourcing and technology vendor contract. Beyond listing expectations of service type and quality, an SLA provides remedies when requirements aren't met.