Open an Offshore Bank Account in Dominica
The Commonwealth of Dominica is widely known for its reliable banks that offer a wide range of financial services and that are able to satisfy the most demanding customer. Opening a bank account in Dominica would let you protect your assets as well as the confidentiality of your personal information. Both private individuals and corporate entities can set up bank accounts in Dominica and make international transactions. Would you like to have a MasterCard? Would you like to make money transfers in US dollars? Would you like to make use of the SWIFT and SEPA systems? All these things are going to be possible if you open an offshore bank account in Dominica. However, you have to take several aspects into consideration before you do so.
Banking opportunities in Dominica
Unlike some other offshore jurisdictions, Dominica is well trusted in the world. The Caribbean country boasts reliable and cautious banks that provide efficient asset protection. There can be many reasons why you would want to set up a bank account in Dominica from international investments to international trade to finance management optimization. The choice of the bank will depend on a number of criteria including the bank’s reputation, conditions for account opening, and minimum deposit requirements. Besides, you have to find out about the taxes that you’d have to pay if you opened an offshore bank account in Dominica.
Personal and corporate accounts with Dominican banks
You have to supply several documents when applying for banking services in Dominica including your passport and proof of address. You have to realize that different banks in the country charge different commissions, pay interests on deposits at different rates, and offer service of a different quality. For this reason, choosing the right bank could be a challenging task. We suggest that you should apply for professional consultation if you would like to set up a bank account in Dominica.
Opening a bank account in Dominica would bring you several weighty advantages. Some of the best banks in the country such as the National Bank of Dominica, Caribbean Commercial Bank, and Royal Bank of Canada offer various banking services and provide a high level of asset protection. Besides, banking privacy is among their top priorities.
Why do you need an offshore bank account?
An offshore bank account is an efficient asset protection instrument in the first place. Secondly, even though you cannot keep it secret from your home country’s authorities, you can keep it secret from all third parties such as your competitors or relatives, for example. Third, an offshore bank account can make international payments non-problematic.
Dominican banks for private investors
As far as private investors are concerned, they can obtain a great number of services from Dominican banks. In addition to financial management services, the banks in the country can give you access to special investment instruments such as funds and securities. Your investments will remain totally confidential. In addition to that, all the state-of-the-art online banking opportunities are readily available in Dominica. The banking industry in the country keeps pace with all the modern developments in the global banking industry. There you will find a wide choice of financial solutions.
A personal bank account in Dominica
A personal account with a Dominican bank could become your favorite financial instrument. You can perform all sorts of financial operations with the account including money transfers, bill payments, and so on. The opportunity to use online and mobile banking applications would make the bank account especially handy.
Bank cards for bank account holders in Dominica
Dominican banks issue plastic bank cards that are easy to use. In particular, you can obtain a MasterCard from a Dominican bank and use it anywhere in the world for making payments. You can withdraw cash from an ATM no matter where it is located. You can obtain bank cards of various types in Dominica. Depending on your preferences, the bank manager will offer you the type of bank card that could satisfy your needs. Besides, you can use the SWIFT and SEPA systems for international money transfers.
Access to crypto exchange aggregator
Some Dominican banks offer an exclusive opportunity. Namely, they give you access to a crypto exchange aggregator, which allows trading in cryptocurrencies at different exchanges using a single account. You can have information about the costs of different cryptocurrencies in real time and freely exchange them without having to switch between several accounts. This service is precious for crypto enthusiasts because it brings fantastic investment opportunities. The money that you earn can be converted into US dollars and transferred to your bank account or your MasterCard.
Private banking in Dominica
Private banking opportunities are also available in Dominica. Private banking is an exclusive service and it comes at a price. However, you could gain access to some special investment opportunities and a wide choice of international investment options. The bank would assign a personal manager to you who would help you develop financial strategies in a professional way. Applying for private banking services in Dominica is a great chance to grow your wealth.
Citizenship of Dominica by investment
In addition to opening a bank account in the Commonwealth of Dominica, you can consider acquiring a passport of the country for money: Dominica offers such an opportunity. The process of acquiring citizenship of Dominica by investment takes between 3 and 6 months and it is not too complicated. You don’t have to renounce your present citizenship to become a citizen of Dominica. Besides, you don’t have to live in Dominica to keep your passport.
How can you acquire citizenship of Dominica by investment?
There are two ways of acquiring a passport of Dominica for money. The first is a donation to the Economic Diversification Fund (EDF) and the second is purchase of real estate approved by the Government for citizenship-by-investment purposes.
You have to donate US$ 200,000 to the EDF to qualify for citizenship of Dominica if you are applying alone. If you are applying with your family of up to 4 members, the donation amount is US$ 250,000. If you have a larger family, you have to pay an additional US$ 25,000 for each extra family member below 18 and US$ 50,000 for each extra family member above 18.
If you choose to invest into real estate in Dominica, the required investment amount is also US$ 200,000. However, the investment is returnable: you can sell the property to somebody after holding it in your possession for 3 years. If you don’t sell it earlier, you will be able to keep your Dominican passport. The only thing is that you can buy only a modest piece of property in Dominica for US$ 200,000. Nice houses cost considerably more in the country.
Another thing that you should bear in mind is that some serious administrative fees are associated with acquiring citizenship of Dominica by investment. You have to pay the due diligence fee, the application processing fee, the immigration agent’s fee, the interview fee, the passport issuance fee, and some other fees too. The overall investment amount is going to be 30% to 35% higher than the amounts stated above.
