Buying Real
Estate
Safe
Haven Real Estate Services Requirements
Residency
Exchange
Rates
& Tax Rates
Metric
Conversions
About Dominica
Maps
FAQs
Where
to Stay in Dominica
Investing
in Dominica
Articles about Dominica
Public Holidays
Moving to Dominica
Importing
Cars
Architects
Builders
Living in Dominica
Living
Here
Banks
Tax
Advisors
Schools
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Here
Related Links
& Resources
|
General Information About Dominica
 |
The
Prime Minister of Dominica is Mr. Roosevelt Skerrit. The Attorney
General is Mrs. Francine Baron-Royer. Hounourable Ian Douglas is Minister of Tourism, Legal Affairs and Civil Aviation.
Dominica introduced Value Added Tax on 1st March 2006. |
| Buying
Real Estate in Dominica |
Safe Haven can help
you with all your Real Estate needs:
- We sell
and let properties.
- We can apply
for alien land holding licence if required.
- There is
no capital gains tax in Dominica.
- We have
an in-house lawyer.
|
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| Residency |
| If
you are coming from a Commonwealth country you are entitled
to stay in Dominica for up to six months. Thereafter you will
need a residence permit.
You will need to show that you are in good health, have sufficient
funds to maintain yourself and your family and have no criminal
record. You will also be required to state your reasons for
wanting to settle here.
You will need the following:
- two
passport size photographs
- medical
report including HIV report
- a
statement of financial position from a reputable banker
- two
references including one from your employer
- marriage
certificate
- proof
that you have a return ticket to your normal place of residence
If
you need to apply for a work permit essentially you will need
to show that you will not be taking a job from a local person
- in other words you will need to show how you will be benefiting
the country.
E.g will you be able to employ other persons; have you special
skills.
A fee of EC$500 has to accompany the application.
If you are going into paid employment your prospective employer
will have to advertise the job three times and show that there
are no suitable applicants.
Residence is normally for a year at a time. It is possible thereafter
to apply for permanent residence and citizenship in 5 years
if you are from a Commonwealth country or 7 years in other cases.
For forms and further information contact:
The Ministry of Immigration and Labour,
Government Headquarters, Roseau, Dominica
Tel (767) 448 2401.
This is a general number so be prepared to wait.
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| Exchange Rates & Tax Rates |
| Exchange
Rate
Cash:
US $1.00 = EC $2.67
Wire transfer, bank draft or cheque:
US$ 1.00 = EC $2.6882
Tax Rates
Personal Allowance for Residents EC$ 15,000
Income Tax Rates
From 1st January 2008 The Tax threshold has been raised to EC$18,000.
$18,000 - $13,000 tax 18%
$30,000 - $50,000 tax 28%
$50,000 and above is 38%
Company Tax is 30%
|
| Requirements |
|
Citizens
of Dominica and members of the Eastern Caribbean States ("OECS")
do not require an alien land holding licence to own land in Dominica.
The OECS states are:
Anguilla
Antigua
British Virgin Islands
Dominica
Grenada
|
Montserrat
St.
Kitts & Nevis
St. Lucia
St. Vincent &
The Grenadines |
If you are not a citizen of these states you will need to obtain
an alien landholding licence to own more that 1 acre of land
for residential purposes or 3 acres for business purposes.
At the present a License is required to purchase more than one acre of land for residential and three acres for commercial and a purchaser who is a citizen of a non OECS country will have to pay an additional 10% Alien Land Holding License Fee.
Below the stipulated acreage, Government requires all such persons to pay the additional 10% fee notwithstanding that a License is not required.
If
you are a member of a CSME STATE (Caribbean
Single Market Economy) unless you are also an OECS National
the Alien Land Holding Provisions apply to you when buying land.
Transfer fees payable by the purchaser are made up as follows:
-
4%
stamp duty
-
2.5%
judicial fees
-
1%
assurance fund
3%
legal fees
The
vendor has to pay 2.5% stamp duty on the market value of the land
being sold.
If you purchase above 1 acre for residential or 3 acres for business
you have to apply for an Alien land holding Licence and if granted
you will pay the additional 10% on the market value of the land.
For these purposes land includes whatever is on the land.
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| Have you thought of investing in Dominica? |
Prices
of property are very reasonable compared
to other parts of the Caribbean. Dominica is an unspoilt, lush tropical
Island with rainforests, rivers and waterfalls.
Most importantly
there is:
- No death duties
- No estate tax
- No capital gains tax
If you wish to find out more e-mail us at safehaven@cwdom.dm |
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| Importation of Cars |
|
Definitions of terms used
Customs Value is
freight plus the value of the vehicle.
Import Duty is 40%
of the customs value plus an environmental levy of EC$3,00.00
if the car is 5 or more years old, otherwise for the EC$3,000
substitute 1% of the customs value.
Customs Service Charge
is 3% of the customs value.
You Pay
Excise
tax
which is 28% of the customs value plus the import duty plus the
customs service charge and;
Value Added Tax (VAT)
of 15% on customs value plus import duty plus the customs service
charge plus the excise tax.
For
More Information
We
recommend you contact the Port Authority at (767) 448-2401 for
further information. Mr. Michael White is very helpful.
Please see the examples below for calculating vehicle importation
costs.
| EXAMPLE:
NEW VEHICLE |
EC$ |
| Price:
|
$100,000.00 |
| Freight
cost: |
$4,000.00 |
| Customs
value: |
$104,000.00 |
| Import
duty |
|
40%
of customs value: |
$41,600.00 |
+
Environmental Levy |
|
(1% of customs value): |
$1,040.00 |
+
Customs service charge |
|
(3%
of customs value): |
$3,120.00 |
Total |
$45,760.00 |
| Excise
Tax: 28% of: |
|
customs
value ($104,000.00) |
+ import duty ($45,760.00) |
i.e. 28% of $149,760.00 |
$41,932.80 |
| VAT
15% of: |
|
customs
value ($104,000.00) |
+
import duty ($45,760.00) |
excise tax ($41,932.80) |
i.e.
15% of $191,692.80 |
$28,753.92 |
| |
|
| Total
charges on importation: |
$116,446.72 |
| EXAMPLE:
OLDER VEHICLE |
EC$ |
| Price:
|
$10,000.00 |
| Freight
cost: |
$4,000.00 |
| Customs
value: |
$14,000.00 |
| Import
duty |
|
40%
of customs value: |
$5,600.00 |
+
Environmental Levy |
$3,000.00 |
+
Customs service charge |
|
(3%
of customs value): |
$420.00 |
Total |
$9,020.00 |
| Excise
Tax: 28% of: |
|
customs
value ($14,000.00) |
|
+ import duty ($9,020.00) |
|
i.e. 28% of $23,020.00 |
$6,445.60 |
| VAT
15% of: |
|
customs
value ($14,000.00) |
|
+
import duty ($9,020.00) |
|
excise tax ($6,445.60 |
|
i.e.
15% of $29,465.60 |
$4,419.84 |
| |
|
| Total
charges on importation: |
$19,885.44 |
|
| Architects |
-
Agar & Agar Architects: Tel. (767) 448-2282
-
Lyn Giraud: Tel. (767) 448-3300, Fax (767) 448-3500
|
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| Builders |
-
Mr. Stewart Paris: Stewco Construction Co. Ltd.
President, of the Builders and Contractors Association of Dominica
Tel. (767) 445-8680, Fax (767) 445-5692
Email: stewco@cwdom.dm
-
Matthew Burton Construction:
Tel. (767) 448-3113, Fax (767) 448-3113
Cell (767) 235-7629
Email: matthewp80@hotmail.com
|
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| Banks |
Banks are generally open 8 a.m to 2 p.m. Monday through Thursday
and until 4.p.m on Fridays.
Bank of Nova Scotia
Tel (767) 448 5800
28 Hillsborough Street, Roseau
First Caribbean Bank
Tel (767) 448 2571
Old Street, Roseau
National
Bank of Dominica
Tel (767) 255 2300 (switchboard number)
64 Hillsborough Street (general banking)
ATM facilities (local card).
Canefield
Branch: Open 9.a.m. to 5 p.m
Portsmouth Branch: ATM
facilities
Royal
Bank of Canada
Tel (767) 448 2771
Bay Front, Roseau
ATM
& Cirrus links.
To
open a Bank Account most banks require the following:
1)
Copy of birth certificate
2) Proof of Address
3) ID
4) Bank reference. If this cannot be obtained, at least try to get
a statement stating how long you have been with the bank and that
the account is in order.
5) If you have a Residence Permit, a copy of the permit is required. |
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| Tax Advisors/Accountants |
KPB
Chartered Accountant
Independence Street, Roseau
Member of Association
of Independent Accounting Firms.
Tel
(767) 448 2511
Fax
(767) 448 5201 |
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| Schools |
|
Pioneer Academy
Takes children from kindergarten to grade 6.
Small caring private school where attention is paid to the development
of the "whole child".Music,
art and computer studies form an intergral part of the curriculum.
Orion
Academy
Takes children from grade 6 to Form 5 when they would take their
CXC exams. Children range from approx age 12-16. Small classes.
Languages, music, and computer studies are offered as an integral
part of the curriculum. Languages taught are French and Spanish. |
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| Metric Conversions |
| Click here
to convert sq. feet to sq. meters or acres to hectares! |
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For further information and list of fees
contact:
Danna Del Sol / Cecily Lees at
(767) 440 0878 or (767) 448 5718
Fax: (767) 448 5338
Email: safehaven@cwdom.dm
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Every reasonable care has been
taken by Safe Haven Offshore Ltd in ensuring that the information provided
on its website is accurate. Business, Investment and other decisions are
the responsibility of the client. All clients must seek their own tax
advice from their country of residence/domicile. Safe Haven Offshore Ltd
shall not be liable for any loss or liability whatsoever or howsoever
caused or arising from such business, investment and other decisions. |