Dominica is on of the Antilles islands, in the Caribbean Sea, approximately halfway between the Guadalupe Islands (to the north) and Martinique (to the south). It is one of the Windward Isles and is about 47 km in length. The Dominican government has dealt with improving the country’s reputation as a trustworthy financial center and only accepts international clients that are looking to do legal offshore bank negotiations. To obtain an offshore bank license, there must be complete transparency in relation to the shareholders and the directors of the offshore bank. In agreement with the Offshore Bank Act of Dominica, which requires an offshore bank license, there cannot be an IBC; in addition, shares made out to the holder are not permitted. The requirements for applying for this type of license are: show a business plan, with details of planned operations; present a local registration of the company that will apply for the offshore bank license; present proof of capital paid in cash or negotiable securities for $1 million USD; show other documents that will allow the Dominican authorities to evaluate the financial and personal reputation of the person requesting the license, such as the financial performance of the company’s affiliates during the last three years prior to the request, certified by an independent auditor; and last, there must also be an office representative in Dominica.
Financial Services Unit
Telephone: +767 266 3559
Fax: + 767 440 0376
Expanding through the Caribbean In 1915, branches were established in three Eastern Caribbean islands - Dominica, Antigua and St. Kitts. Between 1917 and in 1920, the Bank opened branches in Nevis, Montserrat, Tobago, Martinique, Guadeloupe, Haiti and St ...
Scotiabank Dominica, a branch of The Bank of Nova Scotia, offers a comprehensive line of retail and commercial services including electronic cash management services through our extensive network of branches across the country. Scotiabank Dominica Since ...
CIBC FirstCaribbean is a major Caribbean bank offering a full range of market-leading financial services in Corporate Banking, Retail Banking, Wealth Management, Credit Cards, Treasury Sales and Trading, and Investment Banking. It is the largest, regiona ...
The National Bank of Dominica Ltd (NBD) has its origins from March 1978 when it started its operations as National Commercial & Development Bank. From those embryonic days, it has become the largest Commercial Bank on the island. It subsequently ceded its ...
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