Dominica Ship Registration
Dominica is a member of the International Maritime Organization (IMO) and adheres to its conventions and protocols.
Registering a ship under the Dominica flag provides several advantages, including: (a) competitive registration and tonnage tax rates, (b) a favorable regulatory environment with no restrictions on ship ownership or crew nationality, and (c) efficient administrative services. Dominica is currently on the Grey List of the Paris MoU, indicating moderate safety and compliance standards.
Facts & Info about: Dominica Ship Registration
- Ownership: Ships can be owned by both Dominican and foreign individuals or companies.
- Company Formation: The owning company can be registered in Dominica or elsewhere.
- Directorship: There are no specific requirements for directors to be Dominican residents.
- Resident Agent: Not required.
- Office Address: The company does not need to have a registered office in Dominica.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections are mandatory.
- Financial Statements: Not explicitly required.
- Tonnage Tax System: Tax is based on the ship's net tonnage rather than its profits.
- Income Exemptions: No tax on profits from the operation or management of a Dominica-registered vessel.
- Capital Gains: No capital gains tax on the sale or transfer of a Dominica-registered vessel or the shares of a shipping company.
- Tonnage Tax System: The registration process is typically swift, taking a few days.
- Maritime Act:Governs the registration, sales, and mortgages of ships in Dominica.
- Tonnage Tax Law: Regulates the taxation system based on tonnage rather than profits.
- Flag State Control: Dominica ensures compliance with international maritime regulations.
- Reputation: Dominica is on the Grey List of the Tokyo MoU.
- Support Services: Dominica offers comprehensive maritime services including management, legal, and logistical support.
- Strategic Location: Dominica’s favorable regulatory environment offers advantages for global shipping operations.