Registering a Business in Dominica
Business registration can serve many purposes. It helps persons to take you seriously as a business and gives you access…
Business registration can serve many purposes. It helps persons to take you seriously as a business and gives you access to apply for government loans and grants. Creates trust among supply and shows that you are serious about what you are doing.
Like many other countries, Dominica has its own set of guidelines and procedures to follow when seeking to register a business in the country. Here we will explore some of them.
In Dominica, you can register as a partnership, sole proprietor, or company.
- The form used for this process is Form BN1 for the registration of Business names for individuals and sole priorities.
- The business registrations for a firm or partnership would use the latest BN3 form most suited for companies.
Who can register a business in Dominica?
Anyone who is over eighteen years old and is in sound mind does not possess a record of bankruptcy and processes the required documents can register a business in Dominica.
The requirements, in case you are wondering, are:
- Letter addressed to the Registrar of Companies requesting registration of Business Name.
- Business name application
- Statement of Particulars and Statutory Declaration in duplicate (2 copies each) on deed paper.
- Business Name Statement of Particulars
- Business Name Statutory Declaration
Fees associated with registering a business in Dominica.
Description Fee (EC$)
- Application for registration 70
- Annual fee (Due by 2nd April every year after registration) 50
- Filing of an annual return 10
- Statement of Particulars 20
- Each deponent to a Statutory Declaration 10
Choosing a name for your business in Dominica.
- Do not use a name same as one already registered in Dominica
- Do not connect your business name to any government institution without prior approval.
- Do not connect your business name to a political party leader or any political parties.
- Do not choose a suggestive name that may mislead readers
- Do not use your business name to give a false impression of where your services and products come from.
It is important to note that companies that come from outside Dominica are listed as external companies. Any company operating outside of the jurisdiction goes under the s. 340, Companies Act 1994.
The following documents are required for registration:
- The company’s constitutional documents include the Article of Association, the Articles of Association, charters and other similar documents, certificate of incorporation, and the company’s memorandum.
- You will also need a registration application
- And a form for the Power of Attorney
- And lastly, a statutory declaration from an attorney-at-law to show you were compliant with necessary laws.