COMMONWEALTH OF DOMINICA INTERNET SPORTS BOOKS, “800” NUMBER AND CYBER-CASINO BUSINESS
All Internet gaming business in Dominica, operate under the terms of an agreement drawn up between the gaming company and the Government of Dominica. The gaming business is STRICTLY OFFSHORE and any agreement will be specifically strong on this issue. 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 this sub-sector.
Any company licensed to operate on-line gaming business in Dominica automatically avails itself to many advantages. The telecommunications system here 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. Where companies must import technical and managerial personnel, work permits for those persons will be available, through the normal procedure.
Offshore businesses domiciled in Dominica do enjoy generous fiscal incentives and certain tax exemptions. Custom duty concessions are given for imports needed to carry on Internet gaming. Immunity is granted to on-line gaming companies from income tax, with holding tax, sales tax and other taxes. Offshore companies, such as on-line gaming companies are not subject to foreign exchange control.
Establishing an Internet Gaming Company
- Make initial contact with:
Financial Services Unit
Ministry of Finance & Planning
5th Floor Financial Centre
COMMONWEALTH OF DOMINICA
TEL: 1 767 266 3158/3159/3073
FAX: 1 767 448 0054
An Internet Gaming Forms will be made available through a local an agent, representative or one of the principals of the company.
- The Internet Gaming Forms (only original forms and documents will be accepted) should be returned to the Financial Services Unit, with all forms properly signed and notarized. The nonrefundable application fee is US$15,000 should be enclosed with the application. Submission of the above-referenced forms and required fee to the financial services unit shall not automatically deem the application complete. Upon submission, the Financial Services Unit shall review the application for completeness. If any further information is required, the applicant will be notified in writing. Please note that applications will not be processed without all of the required documents.
- On notice from the Financial Services Unit, the applicant arranges with the Ministry of Finance and Planning to purchase Treasury Bills in the amount of US$100,000. Treasury Bills will be rolled over until six months after termination of agreement.
- Arrange, with the Financial Services Unit for the drawing-up of the agreement between the registered Company and the Government of Dominica. Either a shareholder or director of the applicant must sign the contract of concession. When the agreement has been finalized, application fee paid and the Treasury Bills purchased, the company will be presented with a license to operate in Dominica.
- Provide the Financial Services Unit with the address, telephone numbers, agent and manager of the business on commencement of operations. Also a list of all staff is required on commencement.