Dominica’s International Business Companies (IBC) are now abolished


It is over! The Dominica’s International Business Companies regime is officially abolished from 1st January 2022. Those companies have the option to re-register as a local company (the deadline was 31 դեկտեմբեր 2021) and be subject to the Dominica’s local 25% corporate income tax.

All the local agents are therefore out of business.

The only option available is to the transfer of all assets to another company as soon as possible.

You can contact us if you need it.

Dominica is a textbook case for the rise and fall of an unstable jurisdiction. It has been reported previously that the investors have been betrayed.

References:

International Business Companies (IBC)(Repeal) Act 2021, ACT 6 of 2021

PARLIAMENT REPEALS INTERNATIONAL BUSINESS COMPANIES ACT

Notice of closure of the IBC sector