Dominica Gaming License

Dominica is speedily becoming a leading gaming jurisdiction in the Caribbean. The offshore gambling or online gaming business of Dominica is governed by laws of Dominica. The offshore gambling businesses or business operates under terms and conditions outlined in an agreement or legal contract between the Commonwealth of Dominica (the licensor) and the applicant company (the licensee).

Key Features

All gaming companies must register under the International Business Company Act of Dominica. The Financial Services Unit of the Ministry of Finance is the governmental administrative body responsible for the development and the overseeing of the offshore sub-sector.

Dominica offers licenses to online casinos, sportsbooks, and 800-number businesses. Capital of at least USD $500,000 is required, of which USD $100,000 must be in Dominican government bonds.

There is an application fee of USD $15,000 for the first application and USD $10,000 for each additional application.

Licensees must pay an annual license fee of USD $75,000, or alternatively an annual license fee of the greater of USD $50,000 or 5% of their gross revenue.

Licensees must also submit a certificate from an independent testing laboratory assuring fairness of the games offered and attesting that there are reliable controls in place to curb problem gambling, prevent access to minors and citizens of Dominica.

Legal Requirements

Requirements

Description

General

  • Corporate  vehicle permitted

Dominica International Business Company

·         License application fee

USD 15,000

·         Annual license fee

USD 75,000 or

greater of USD 50,000 or 5% of gross income

  • Local physical office required

Yes

Share capital or equivalent

·         Minimum paid up capital

USD 500,000

Directors

  • Minimum number

2

  • Corporate directorship allowed

Yes

  • Local director required

No

Shareholders

  • Minimum number

2

  • Corporate shareholder allowed

Yes

  • Local shareholder required

No

Service Providers Required

  • Company secretary

Yes

  • Auditor

Yes

  • Legal adviser

Yes

Tax Treatment

  • Custom duty concessions are given for imports needed to carry on Internet gaming.
  • Immunity is granted to online gaming companies from income tax, withholding tax, sales tax and other taxes.
  • Offshore companies, such as on-line gaming companies are not subject to foreign exchange control.
  • There is no tax on profits or income of non-permanent residents. Licensees are required to contribute at least USD $5,000 annually to tourism or other government-approved organizations.

Duration to Set Up

Around 6 months

Distinctive Benefits of Licence

  • The telecommunications system in Dominica is one of the world’s most advanced system; allowing for immediate and easy communication with the rest of the world.
  • Available in Dominica is a large, young and trainable work force.
  • Generous fiscal incentives and tax exemptions.

The Valsen Advantage

  • End to end comprehensive service
  • Speedy and efficient service
  • Expert advice on structuring options
  • Dedicated ongoing compliance support
  • Extensive network pool of service providers

Telephone:

+248 252 5217

[email protected]

vf-international.com