Offshore companies, which have been popular abroad for many years, are now widely used domestically. Many domestic enterprises and investors have registered their own offshore companies for various reasons, including asset security, privacy protection, investment diversification, and risk management.
The so-called offshore company generally refers to a limited liability company or a joint-stock company established in an offshore jurisdiction. Some countries and regions in the world (mostly island nations) have used legal means to formulate and cultivate particularly relaxed economic zones, which are generally referred to as offshore jurisdictions. Offshore jurisdictions are also known as tax havens. According to the definition in the "International Tax Glossary" compiled by the International Bureau of Fiscal Documentation, countries or regions that generally meet the following conditions can be identified as tax havens:
1. No taxes or very low tax rates, especially regarding income tax and capital gains tax;
2. Implementation of rigid banking or business secrecy laws to protect the confidentiality of the parties involved, without compromise;
3. Open foreign exchange with no restrictions, allowing free movement of capital;
4. Refusal to cooperate with foreign tax authorities;
5. Generally no tax treaties or very few tax treaties;
6. Highly convenient centers for finance, transportation, and information.
Undoubtedly, countries or regions possessing the above conditions will inevitably attract the attention of many domestic entrepreneurs or investors. Dominica, as a world-class "tax haven," is almost tailor-made as an offshore company destination for many entrepreneurs and investors. Citizens of this country are exempt from capital gains tax, gift tax, inheritance tax, etc., and it is one of the rare countries that does not impose global taxation. Furthermore, Dominica implements a "zero" tax policy on the overseas assets of its citizens, making it arguably the premier choice for establishing an offshore company and expanding into the global market.
Due to foreign exchange controls and the participation of 101 tax jurisdictions, including China, in the CRS global tax reporting standard, the Commonwealth passport program with tax-avoidance features—the Dominica Citizenship by Investment Program—has become highly sought after by investors. Many domestic entrepreneurs and investors are obtaining a Dominica passport not only to effectively mitigate risks arising from policy changes and increase the flexibility of capital allocation, but also to establish offshore financial companies as Dominica citizens, thereby achieving global asset allocation and hedging against market risks such as interest rate and exchange rate fluctuations.
There are mainly two ways to obtain Dominica Citizenship by Investment:
1. Invest (donate) at least $100,000 to the Dominica government fund;
2. Citizenship by real estate investment: Invest at least $200,000 in a government-approved real estate project.
As one of the earliest immigration companies in China to promote the Dominica citizenship program, Worldway Group maintains an excellent relationship with the government of Dominica. Prime Minister of Dominica, Mr. Roosevelt Skerrit, has visited China twice to promote the Dominica passport program and has visited the Hong Kong and Shanghai offices of Worldway Group respectively. Mr. Vince Henderson, Ambassador and Permanent Representative of Dominica to the United Nations, visited the Shenzhen office of Worldway Group. Dominica dignitaries have repeatedly given high praise to the achievements made by Worldway in the field of investment immigration and have awarded Worldway the honorary certificate of "Valued Partner of the Dominica Citizenship by Investment Program."
For more immigration consultations, please call: 400—9626—886.