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🇩🇲 Dominica — Offshore IBC

Dominica — FSU IBC licence.

Dominica's Financial Services Unit IBC structure offers a fast-track offshore forex licence with minimal capital and straightforward compliance.

Setup time

2—4 wk

IBC incorporation

Min. Capital

USD 1

No paid-up requirement

Annual maintenance

USD 3—7K

Per year

Regulator

FSU

Financial Services Unit

01 — Is this right for you?

A considered route,
not a shortcut.

This jurisdiction rewards operators who treat the application as the start of a supervisory relationship.

A strong fit

When this is the right choice

Offshore Forex holding entities

A Dominica IBC is a clean, low-cost offshore vehicle for groups operating a licensed entity in Mauritius, Vanuatu, or Seychelles — providing a separate holding or treasury layer with minimal substance obligation.

B2B technology vendors and white-label platforms

Operators providing FX technology infrastructure rather than client-facing execution find Dominica a cost-effective corporate base without the capital and audit burden of a Securities Act jurisdiction.

Early-stage operators building their structure

For operators setting up their initial offshore footprint while a full licence application is in progress elsewhere, a Dominica IBC provides an operational vehicle with fast turnaround.

A poor fit

When to consider an alternative

Operators expecting a dedicated Forex licence

Dominica does not issue standalone Forex or Securities Dealer licences through the FSU framework. The IBC regime is a corporate vehicle — not a regulatory authorisation. Counterparties and processors will expect a licence from a recognised regulator.

Retail-facing brokers needing PSP acceptance

Offshore PSPs and card processors now require demonstrated regulatory oversight from a recognised authority (Mauritius, Seychelles, Vanuatu at minimum). A Dominica IBC alone will not satisfy their due diligence.

EU/EEA distribution

Dominica has no MiFID II recognition and no bilateral regulatory cooperation framework with the EU. Any EU retail distribution requires a licensed entity in a recognised EU or EEA jurisdiction.

02 — Licence categories

Permissions under
one Act.

Choosing the right tier and scope is the most consequential decision in the application.

International Business Company (IBC)

The standard Dominica offshore corporate vehicle. IBCs receiving no Dominica-sourced income are zero-tax. Beneficial ownership disclosure to the FSU is mandatory since the 2018 FATF-driven IBC Act amendments.

Economic Substance Compliance

Dominica IBCs engaged in relevant activities (banking, financing, leasing, IP, fund management, headquarters, shipping, distribution) must demonstrate adequate in-country substance. Most passive holding and treasury structures remain outside the substance trigger.

Group Structure Integration

We integrate the Dominica IBC into a broader multi-entity structure — typically pairing with a licensed entity in Mauritius, Vanuatu, or Seychelles for client-facing operations, while the Dominica IBC holds IP, intercompany loans, or group treasury.

03 — Path to grant

Phases to licence grant.

Structure decision

Week 1

Determine whether the Dominica IBC serves as operating entity, holdco, IP vehicle, or treasury entity. Confirm it falls outside the substance test trigger for your planned activity.

Incorporation

Weeks 1—4

Dominica IBC incorporated with appropriate share capital, director appointments, and registered agent engaged. Beneficial ownership disclosure filed with the FSU.

Banking & PSP setup

Weeks 4—12

Corporate banking opened in appropriate jurisdiction (typically Mauritius, Seychelles, or EU). Payment processing relationships established where applicable.

Ongoing compliance

Ongoing

Annual returns, substance assessment, beneficial ownership update, and banking relationship maintenance. Where client-facing Forex activity is planned, full licence application commenced in parallel.

04 — Year-one economics

Cost and regulatory
burden.

Year-one spend is dominated by substance — resident director, office, compliance officer, external audit — not the licence fee itself.

Cost item	Amount
IBC incorporation	USD 1,500—2,500
Annual government fee	USD 650
Registered agent (annual)	USD 1,200—1,800
Beneficial ownership filing	USD 350 / yr
Substance compliance (if triggered)	USD 2,000—6,000 / yr
Year-1 total	~USD 3—7K / yr (ex. substance)

Dominica IBCs receiving no Dominica-sourced income pay zero corporate tax. The FSU enforces beneficial ownership disclosure — failure to maintain updated records leads to strike-off. Economic substance obligations apply to IBCs engaged in relevant activities.

05 — Common questions

What founders
ask before filing.

The questions we get on every diagnostic call. If yours isn't here, raise it in the consultation.

Not in the way most operators expect. The FSU oversees the IBC regime — a corporate vehicle registration, not a regulatory licence for securities or derivatives dealing. Operators wanting a recognised Forex licence should look at Mauritius FSC, Seychelles FSA, or Vanuatu VFSC.

For B2B and non-retail operations, a Dominica IBC can serve as the legal entity — but without regulatory authorisation. Most payment processors, liquidity providers, and institutional counterparties will require a licence from a recognised authority before onboarding. Dominica works best as a structural layer within a multi-entity group.

They are broadly similar in their IBC-focused approach and limitation on Forex licensing. SVG has somewhat better name recognition with legacy PSPs. Dominica is marginally faster and cheaper to incorporate. Both are increasingly scrutinised by processors who require a proper licence.

Annual government fee, registered agent retainer, and beneficial ownership update — roughly USD 3,000—5,000 per year for a basic structure. Where substance obligations apply, add director fees, local employee costs, and relevant activity expenditure.

Yes — that is the typical structure. The Dominica IBC serves as group holdco or treasury entity while a licensed operating entity (Mauritius, Seychelles, Vanuatu) handles client-facing Forex operations. We structure and file both simultaneously.

Ready when you are

Tell us where
you want to
operate.

Forty-five minutes with a partner. Jurisdiction memo within seven days. No retainer required to start.

Book a consultation Send us a brief

45 min

First call with a partner.
No retainer required.

Dominica — FSU IBC licence.

A considered route,not a shortcut.