Useful Information about Dominica

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An Introduction to Dominica Architects Banks Buying Real Estate in Dominica Economic Citizenship Exchange Rates Have you thought of investing in Dominica? Importation of Cars Metric Conversions Purchase Requirements Residency Schools Surveyors Tax Advisors/Accountants Tax Rates

An Introduction to Dominica

The Prime Minister of Dominica is Mr. Roosevelt Skerrit. The Attorney General is Mrs. Francine Baron-Royer. Hounourable Ian Douglas is Minister of Tourism, Legal Affairs and Civil Aviation. Dominica introduced Value Added Tax on 1st March 2006.

 

Architects

Agar & Johnston Architects: Tel. (767) 235-2282

Lyn Giraud: Tel. (767) 448-3300, Fax (767) 448-3500

Eugene Royer: 30 Federation Drive Tel. (767) 245-0930

 

Banks

Banks are generally open 8 a.m to 2 p.m. Monday through Thursday and until 4.p.m on Fridays.

Bank of Nova Scotia
Tel (767) 448 5800
28 Hillsborough Street, Roseau

First Caribbean Bank
Tel (767) 448 2571
Old Street, Roseau

National Bank of Dominica
Tel (767) 255 2300 (switchboard number)
64 Hillsborough Street (general banking)
ATM facilities (local card).

Canefield Branch: Open 9.a.m. to 5 p.m
Portsmouth Branch: ATM facilities

Royal Bank of Canada
Tel (767) 448 2771
Bay Front, Roseau

ATM & Cirrus links.

 

To open a Bank Account most banks require the following:

1) Copy of birth certificate
2) Proof of Address
3) ID
4) Bank reference. If this cannot be obtained, at least try to get a statement stating how long you have been with the bank and that the account is in order.
5) If you have a Residence Permit, a copy of the permit is required.

 

Buying Real Estate in Dominica

Safe Haven can help you with all your Real Estate needs:

                
• We sell and let properties.                 
• We can apply for alien land holding licence if required.                 
• There is no capital gains tax in Dominica.                 
• We have an in-house lawyer.               

 

Economic Citizenship

It is possible to obtain a second passport through the Economic Citizenship Programme. Persons who obtain citizenship through this route have exactly the same rights and responsibilities as someone who is a citizen by birth. For more information visit our Citizenship page.

 

Exchange Rates

Cash: US $1.00 = EC $2.67

Wire transfer, bank draft or cheque:
US$ 1.00 = EC $2.6882

 

Have you thought of investing in Dominica?

Prices of property are very reasonable compared to other parts of the Caribbean. Dominica is an unspoilt, lush tropical Island with rainforests, rivers and waterfalls. Most importantly there is:

• No death duties
• No estate tax
• No capital gains tax

 

Importation of Cars

Definitions of terms used

Customs Value is freight plus the value of the vehicle.

Import Duty is 40% of the customs value plus an environmental levy of EC$3,00.00 if the car is 5 or more years old, otherwise for the EC$3,000 substitute 1% of the customs value.

Customs Service Charge is 3% of the customs value.

You Pay

Excise tax which is 28% of the customs value plus the import duty plus the customs service charge and;

Value Added Tax (VAT) of 15% on customs value plus import duty plus the customs service charge plus the excise tax.

For More Information
We recommend you contact the Port Authority at (767) 448-2401 for further information. Mr. Michael White is very helpful.

Please see the examples below for calculating vehicle importation costs.

EXAMPLE: NEW VEHICLE	EC$
Price:	$100,000.00
Freight cost:	$4,000.00
Customs value:	$104,000.00
Import duty
40% of customs value:	$41,600.00
+ Environmental Levy
(1% of customs value):	$1,040.00
+ Customs service charge
(3% of customs value):	$3,120.00
Total	$45,760.00
Excise Tax: 28% of:
customs value ($104,000.00)
+ import duty ($45,760.00)
i.e. 28% of $149,760.00	$41,932.80
VAT 15% of:
customs value ($104,000.00)
+ import duty ($45,760.00)
excise tax ($41,932.80)
i.e. 15% of $191,692.80	$28,753.92
Total charges on importation:	$116,446.72

EXAMPLE: OLDER VEHICLE	EC$
Price:	$10,000.00
Freight cost:	$4,000.00
Customs value:	$14,000.00
Import duty
40% of customs value:	$5,600.00
+ Environmental Levy	$3,000.00
+ Customs service charge
(3% of customs value):	$420.00
Total	$9,020.00
Excise Tax: 28% of:
customs value ($14,000.00)
+ import duty ($9,020.00)
i.e. 28% of $23,020.00	$6,445.60
VAT 15% of:
customs value ($14,000.00)
+ import duty ($9,020.00)
excise tax ($6,445.60)
.e. 15% of $29,465.60	$4,419.84
Total charges on importation:	$19,885.44

 

 

Metric Conversions

Click here to convert sq. feet to sq. meters or acres to hectares!

 

Purchase Requirements

Transfer Fees

Transfer fees payable by the purchaser are made up as follows:

· 4% stamp duty
· 2.5% judicial fees
· 1% assurance fund
· 3% legal fees
· The vendor has to pay 2.5% stamp duty

All Transfer fees are calculated on the market value of the land being sold.

If you receive land as a gift or at an undervalue the transfer fees are still calculated on the market value which is the higher of the purchase price and valuation.

If you are not an OECS Citizen

If you are not a citizen of one of the OECS States you will have to pay an additional 10% on the market Value of the land regardless of how little land you purchase.

In addition you will need to obtain an Alien Landholding License to own more that 1 acre of land for residential purposes or 3 acres for business purposes.

OECS States include:

• Anguilla
• Antigua
• British Virgin Islands
• Dominica
• Grenada
• Montserrat
• St. Kitts & Nevis
• St. Lucia
• St. Vincent& The Grenadines

If you are a member of a CSME STATE

If you are a member of a CSME STATE (Caribbean Single Market Economy) unless you are also an OECS Citizen the Alien Land Holding Provisions apply to you when buying land and you will have to pay the additional 10% in Government Transfer Fees and apply for a License if you purchase above 1 acre for residential or 3 acres for business.

For these purposes land includes whatever is on the land.

 

Residency

If you are coming from a Commonwealth country you are entitled to stay in Dominica for up to six months. Thereafter you will need a residence permit.

You will need to show that you are in good health, have sufficient funds to maintain yourself and your family and have no criminal record. You will also be required to state your reasons for wanting to settle here.

You will need the following:

* Application forms completed in duplicate from Ministry of Immigration an Labour, Government Headquarters Roseau * Birth Certificate * two passport size photographs
* medical report including HIV report. This cannot predate the application by more than three months and must be on the specified form
* a statement of financial position from a reputable banker
* two references including one from your employer
* marriage certificate
* proof that you have a return ticket to your normal place of residence

If you need to apply for a work permit essentially you will need to show that you will not be taking a job from a local person - in other words you will need to show how you will be benefiting the country.

E.g will you be able to employ other persons; have you special skills.

A fee of EC$500 has to accompany the application.

If you are going into paid employment your prospective employer will have to advertise the job three times and show that there are no suitable applicants.

Residence is normally for a year at a time. It is possible thereafter to apply for permanent residence and citizenship in 5 years if you are from a Commonwealth country or 7 years in other cases.

For forms and further information contact:
The Ministry of Immigration and Labour,
Government Headquarters, Roseau, Dominica
Tel (767) 448 2401.
This is a general number so be prepared to wait.

 

Schools

Pioneer Academy
Takes children from kindergarten to grade 6.
Small caring private school where attention is paid to the development of the "whole child". Music, art and computer studies form an intergral part of the curriculum.

Orion Academy
Takes children from grade 6 to Form 5 when they would take their CXC exams. Children range from approx age 12-16. Small classes. Languages, music, and computer studies are offered as an integral part of the curriculum. Languages taught are French and Spanish.

 

Surveyors

Gaetan Seaman: GS Surveys, 65 Kennedy Avenue Tel. (767) 448-2542 Fax. (767) 440-5522

 

Tax Advisors/Accountants

KPB Chartered Accountant
Independence Street, Roseau

Member of Association of Independent Accounting Firms.

Tel (767) 448 2511
Fax (767) 448 5201

 

Tax Rates

Income Tax Rates
From 1st January 2008 The Tax threshold has been raised to EC$18,000.

$18,000 - $30,000 tax 18%
$30,000 - $50,000 tax 28%
$50,000 and above is 38%

Corporation Tax

Corporation Tax is 30%