2020 is the ideal time to open a crypto company in Dominica
Dominica has nothing in common with the Dominican Republic but is no less demanded jurisdiction among foreign investors. The country's government seeks to make the local business environment attractive for large capitals, and it succeeds in doing so. It will take several days to register a crypto company in Dominica.
The procedure for opening a corporate account in the country will also not cause difficulties for entrepreneurs, as many local banks have their own cryptocurrency exchanges.
Advantages of Dominica for doing business
Loyalty to businesspeople working with cryptocurrency is not enough. Other jurisdictions (Antigua and Barbuda, Saint Lucia, Vanuatu) can also boast of it, so the Government of Dominica has developed a range of supportive measures for foreign entrepreneurs:
- the total absence of taxation within 20 years from the date of incorporation;
- a simplified registration procedure (1-4 days), combined with reduced government fees for processing and issuance of documents;
- absence of obligations for companies to submit tax and financial statements for inspection;
- permission to use nominal service;
- higher confidentiality for founders and beneficiary owners;
- absence of requirements for payment of the full amount of the authorized capital at company foundation;
- opportunity to start a business remotely.
Despite the fact that the world crypto market is now developing by seven-mile steps, formed by legislation governing financial relations in this area, only developed countries can boast about it. Dominica is a classic offshore zone with standard advantages and disadvantages; therefore, if there is a need to open a bank account, the foreign businesspeople may have difficulties. Local banks will gladly do so, but they have a bad business reputation and limited capacity to provide innovative services.
How to open a crypto company in Dominica 2020
In Dominica, you can register more than just a crypto company. The legal framework of the jurisdiction is ideal for the registration of online stores, consulting, IT and even gambling companies. You can register them remotely and manage activities from another country.
The most suitable form for foreign investors in Dominica is an IBC, or international business company. To create it, it is necessary to form a package of documents and send it for inspection to the competent jurisdiction. Necessary obligations to provide are:
- identification documents and the location of the actual originator/beneficial owner;
- international documents (foreign passport) certifying the identity of the owners and top managers of the future company;
- business plan justifying the goals and mission of the company and the competence of its founders.
IT-OFFSHORE specialists are authorized to establish a crypto company in Dominica. Cooperation with us will significantly save your time and money. We will take care of making and certifying copies of documents and, despite the controversial reputation of the jurisdiction, organize the opening of a corporate account with a well-known bank.