Dominica

Dominica is an island of 289 square miles and is located between the French islands of Martinique and Guadeloupe in the North-eastern Caribbean or the Lesser Antilles. Notwithstanding its location and its strong French influences its official language is English.

Advantages

There are many benefits of going offshore in Dominica, 2 of which are tax avoidance and asset protection. Read on to find out more about these and other benefits available.
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Dominica is the "nature island" of the Caribbean a name befitting it as a consequence of its topography, rainfall, and vegetation. Forests cover over 60% of the country with scenery and rainforests so unique, making it attractive for the eco-tourist. The island boasts of 365 rivers and has hot springs and boiling lakes which endow it with tremendous potential for geo-thermal energy.

Although Dominica has had a chequered history of French occupation, the political system is based on the British Parliamentary System. Since its Independence from Britain in 1978 it has become a member of the Commonwealth Group of Countries, with the President as the ceremonial Head of State; however all executive power resides with the Prime Minister and his cabinet.

The island's economy is primarily agricultural, an agricultural sector almost entirely reliant on banana production. In recent years there has been a steady increase in the importance of tourism to the economy complimented by a thriving construction industry.

The currency used in Dominica is the Eastern Caribbean Dollar which is fixed to the United States Dollar at the rate of US$1.00 to EC$2.70. United States Currency however is legal tender on the island and can readily be used to purchase goods and services there. Its banking system is well established, serviced by international banks such as Barclays Bank PLC, Bank of Nova Scotia and Royal Bank of Canada which banks facilitate the inward and outward movement of funds with relative ease .

Dominica is one of the eight members of the Organization of Eastern Caribbean States, a member of the Eastern Caribbean Central Bank and a member of the Caribbean Community and Common Market (CARICOM) , a political and economic grouping of Caribbean States.

State of the art fibre-optic digital communications systems are available in Dominica and hence world-wide direct dialing and high speed internet access lines make communication easy. Airline connections from Caribbean hubs such as Barbados, Antigua and Puerto Rico into the island are readily available.

Dominica is attractive as an offshore haven for its political and economic stability, its excellent communications, unrestricted exchange control regime, the flexibility of its international business legislation and the opportunity to combine business and pleasure

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