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Dominica Banking License

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Dominica Banking License: FSU Offshore Bank Authorisation Under the Offshore Banking Act

The Financial Services Unit (FSU) of the Commonwealth of Dominica regulates offshore banking under the Offshore Banking Act (Chapter 40:05). Dominica is an Eastern Caribbean island nation and member of the Organisation of Eastern Caribbean States (OECS) and the Eastern Caribbean Currency Union (ECCU), using the Eastern Caribbean Dollar (XCD) pegged to the USD. Dominica is internationally known for its Citizenship by Investment Programme and its eco-tourism sector. Its offshore banking framework is designed for international banks serving exclusively non-resident clients, providing a streamlined regulatory environment for offshore financial operations.

The Dominica offshore banking licence is a cost-effective solution for international groups needing a Caribbean offshore banking vehicle with a recognised regulatory body. The FSU has progressively aligned its AML/CFT standards with CFATF and FATF recommendations.

Minimum Capital

USD 1 million minimum paid-up capital for an offshore bank licence. Capital must be maintained throughout the licence period as a condition of continued authorisation.

Directors

At least two directors of good character and demonstrated competence in banking or financial services are required. The FSU conducts background assessments of all proposed directors.

Registered Agent

An FSU-approved registered agent in Dominica must be appointed and maintained for the duration of the licence. The registered agent provides the bank's registered address and handles statutory filings.

AML/CFT Programme

A comprehensive AML/CFT compliance programme aligned with CFATF standards and Dominica's anti-money laundering legislation is required. Annual audited financial statements and FSU regulatory returns must be filed.

Tax Position

Dominica has no capital gains tax and no inheritance tax. Offshore banks licensed under the Offshore Banking Act are generally exempt from Dominican income tax on all offshore income earned outside the jurisdiction.

Neptune Fiduciaries: Dominica Banking Licence Support

Neptune Fiduciaries supports Dominica offshore bank licence applications including FSU pre-application engagement, business plan preparation, director vetting, registered agent coordination, and ongoing AML/CFT compliance advisory.

Get in Touch

Contact Neptune Fiduciaries at info@neptunecorporate.com or sales@neptunecorporate.com or visit our Contact Us page.

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