Search for a company name and reserve the proposed name
Agency: Companies and Intellectual Property Office
It takes less than a day to reserve the company name. The entrepreneur can check whether the company name is available by searching in the online database.
Time and cost: Less than 1 day (online procedure), XCD 25
Lawyer verifies affidavit
Agency: Lawyer
Documents required for incorporation are the articles of incorporation and the notice of directors. By-laws are also required by the Company Act, but they can be created later.
Time and cost: 2 days, XCD 2,125
Registration with the Commercial Registry
Agency: Companies and Intellectual Property Office
Company receives the certificate of incorporation.
Time and cost: 2 days, XCD 750 (registration fee)
Apply for tax payer identification number and register for VAT
Agency: Tax Authority
To obtain the tax payer identification number the entrepreneur needs to present the certificate of registration and fill a simple form. The tax authority issues the identification number immediately. In addition, if annual income exceeds EC 250,000, the company needs to register for VAT. Two different forms are submitted at the same time for both registrations.
The Companies and Intellectual Property Office is charged with collecting the information for the company taxpayer identification number. The Company Office is linked by the online registration system with the Inland Revenue Division. The company is issued a tax number upon incorporation of a company.
Time and cost: 7 days, no charge
Register as employer with Social Security Institute
Agency: Dominica Social Security
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.
Time and cost: Less than 1 day (online procedure), no charge
