The ISO code of Dominica is DM according to the ISO 3166 standard. The local name of the country is the same as its English name. Dominica capital city is Roseau. People in Dominica speak the English language. On 3 November 1978, Dominica emerged as a sovereign political entity. In the year 11/03/1978, Dominica emerged as a sovereign political entity. The largest city in Dominica is Roseau.
Dominica is located in the UTC -04:00 time zone, which is also called Atlantic Standard Time or AST. The internet country code top-level domain (ccTLD) for Dominica is .dm. The International dialing code for Dominica is 1767. People in Dominica drive on the left side of the road. Total land area of Dominica is 751 km² (approx. 290 mi²). Dominica is not a landlocked country. It means that is is bordered by at least one major body of water.
Dominica is located in North America. Dominica is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Doing business in Dominica
We offer various corporate services in Dominica jurisdiction. These services can serve both, people coming from Dominica and foreigners. If you plan on doing business in Dominica you might be interested in contacting us.
To find out about starting your business in Dominica click on company formation in Dominica.
To find out how to open a bank account in Dominica and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Dominica.
Choose preferred service below or continue reading to find out more about Dominica.
Demographics of Dominica
The total population of Dominica is 74,308 people. In Dominica, the population density is 96 people per square kilometer (250 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Dominica is 0.2003. Dominica has approximately 6720 foreign immigrants. The median age is approximately 32.1 years. In Dominica, 55.18 in every 100 people use internet. Dominica has a Human Development Index (HDI) of 0.717.
The majority religion of Dominica is Christianity, Dominica is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Dominica.
Culture of Dominica
People in Dominica speak the English language. According to data on inbound tourists in Dominica, 78,000 tourists arrive in the country each year. One of the most popular national dishes of Dominica is mountain chicken. To read more click on culture of Dominica.
Geography of Dominica
Dominica is considered to be a large nation because of its total area. Its total land area is 751 km² (approx. 290 mi²). Dominica is located in North America. Its capital city is Roseau. Dominica has no land borders.
The highest point of Dominica is Morne Diablotins, with its official height being 1447 m (4,748 ft). Including land mass and EEZ, the total area of Dominica is approximately 29,736 km² (~11,481 mi²). The most notable natural resources found in Dominica are timber, hydropower, arable land.To read more click on geography of Dominica.
Economy of Dominica
The currency of the country is eastern caribbean dollar. The symbol used for this currency is $, and it is abbreviated as XCD. 13.8% of population in the country are unemployed. The total number of unemployed people in Dominica is 10,255. Each year, Dominica exports around $0.04 billion and imports roughly $0.22 billion. Dominica has a Human Development Index (HDI) of 0.717.The Global Peace Index (GPI) for Dominica is 2.089. Dominica has a government debt of 4.8% of the country's Gross Domestic Product (GDP), as assessed in 2013. Dominica is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are soap, coconut oil, tourism, copra, furniture, cement blocks, shoes.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Dominica is $790 billion. Each year, consumers spend around $301 million. The ratio of consumer spending to GDP in Dominica is 60%, and the ratio of consumer spending to the world consumer market is 0.0009. The corporate tax in Dominica is set at 30%. Personal income tax ranges from 0% to 35%, depending on your specific situation and income level. VAT in Dominica is 15%. In 2013, Dominica received 25.6 million USD in foreign aid.In 2014, the foreign aid amounted to 24.5 USD.To read more click on economy of Dominica.
Infrastructure of Dominica
In Dominica, 92.7% of the population has access to electricity. There are 723 internet hosts in Dominica. Dominica has 2 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Dominica is 128. To read more click on infrastructure of Dominica.
Politics of Dominica
Dominica, is a unitary parliamentary republic. With regard to political and civil freedoms, Dominica is 1. Citizens in Dominica experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Charles Savarin.
According to the World Bank Group, the government effectiveness index of Dominica is 0.07. This indicates that the government of Dominica is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Dominica before considering any business maneuvers.In Dominica, the legislative power is vested in a House of Assembly. The Global Peace Index (GPI) for Dominica is 2.089. The strength of legal rights index for Dominica is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Dominica received 25.6 million USD in foreign aid. In 2014, the foreign aid amounted to 24.5 USD. Dominica is a member of the United Nations (UN). On 18 December 1978, it joined the UN as a full member state. Dominica is a member of the World Bank. To read more click on politics of Dominica.
Environment of Dominica
Dominica emits 1.7 metric tons per capita of CO2. 488 km² of Dominica's territory is covered in forests. and forest land comprises 65% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Dominica is 128. To read more click on environment of Dominica.
Company formation in Dominica
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Dominica.
When establishing a company in Dominica, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Dominica that will affect the establishment and growth of one's business. Contact us or click on company formation in Dominica to read additional information when setting up a business.
Bank account opening in Dominica
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Dominica. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Dominica, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Dominica or contact us.