Investment Opportunities in Dominica
The economy is increasingly based on small-scale adventure tourism, which recently outstripped traditional agricultural exports such as bananas, tropical fruits and root vegetables as the leading source of foreign trade. Other sources of revenue include various manufactured products and two offshore medical schools affiliated to U.S. institutions, the largest of which currently has over 1200 students.
Dominica is largely unspoilt and offers the most spectacular scenery in the Caribbean. Dominica benefits from a steady flow of small-scale tourism and has so far eluded the attention of the mass tourism operators. The growing international demand for eco-tourism will certainly lead to a substantial growth in travel to Dominica. While tourist facilities are being expanded, opportunities exist for foreign investors to participate in this expansion.
There are very good opportunities for labour intensive manufacture of goods for export to the United States and the European Community, both of which allow reductions in import duties on certain goods manufactured in Dominica. The work force is well educated and honest. The Dominica Government is very keen to promote new labour intensive industries, and substantial tax breaks are offered to new investtors.
There is good potential for the introduction of new high-value crops which are suitable for small-scale farming in lush tropical conditions. These may include orchids, certain species of fruits or nuts, and other tropical plants for medicinal or perfume purposes or for export as live plants. Organic farming is being encouraged, which together with eco-tourism has great potential in Dominica.
The growth of offshore centres is a reflection of growth in world trade and the consequent development of the international financial system. Many small jurisdictions have responded positively to a worldwide demand for places where international business can be carried out in a fiscally neutral way. The offshore industry of Dominica is being developed on the foundations set by new legislation being passed for the registration of offshore companies, banks, international insurance and trust companies. It is expected that Dominica will eventually take its place as an attractive jurisdiction for offshore services and that this sector will contribute significantly to the local economy. Through its offices in Dominica, Henley & Partners is in the best position to assist you regarding all offshore services in this jurisdiction as well as other Eastern Caribbean jurisdictions.
If you are interested in taking advantage of the many opportunities offered by Dominica, please contact us.