Starting a Business in Dominica

This table summarizes the procedures and costs associated with setting up a business in Dominica.

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Standardized company

Legal Form: Private Limited Liability Company
City: Roseau

Registration Requirements Summary:


  Procedure Time to complete: Cost to complete:
1 Search for a company name and reserve the proposed name 2 days EC 25
2 Lawyer verifies affidavit 2 days EC 2125
3 Registration with the Commercial Registry 2 days EC 750
4 Apply for tax payer identification number (Register the company for tax) 7 days no charge
5 Register as employer with social security institute 1 day no charge

Registration Requirements Details

Procedure 1.
Search for a company name and reserve the proposed name
Time to complete:
2 days
Cost to complete:
EC 25
Name of Agency:
Comment:
In practice, companies seldom search for the company name. The lawyer often simply fills out the registration form with the name of choice, and if there is a conflict at the Registry, the Registrar will bounce back the application.
Procedure 2.
Lawyer verifies affidavit
Time to complete:
2 days
Cost to complete:
EC 2125
Name of Agency:
Comment:
Documents required for incorporation are the articles of incorporation, the notice of address, and the notice of directors. Bylaws are also required by the Company Act, but they can be created later. Companies must produce an affidavit that the persons incorporating the company are not bankrupt or mentally deranged. The documents and the affidavit are prepared by an attorney.
Procedure 3.
Registration with the Commercial Registry
Time to complete:
2 days
Cost to complete:
EC 750
Name of Agency:
Comment:
Company receives the certificate of incorporation.
Procedure 4.
Apply for tax payer identification number (Register the company for tax)
Time to complete:
7 days
Cost to complete:
no charge
Name of Agency:
Comment:
The tax payer identification number is obtained by registering with the Inland Revenue Department.
Procedure 5.
Register as employer with social security institute
Time to complete:
1 day
Cost to complete:
no charge
Name of Agency:
Comment:
The employer (a) registers as an employer and receives a social security employer number; and (b) verifies the social security cards of each employee at the time of employment.