Parliament of the Commonwealth of Dominica repealed INTERNATIONAL BUSINESS COMPANIES ACT of 1996

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mklstmsfrg

New member
i give it up, there are 5 weeks until IBC should be renewed normally, than this will be deleted forever, nowbody answered something useful

i wrote to until now:

-Denton lawyer firm
-Stowe & Co. IIRC
-goverment
-fsu -financial service unit
- local agancy in dominica
- agency in the europen country
-online business registry in dominica
-[email protected]
 

mklstmsfrg

New member
Can they really do that with me? I mean that they doesnt give any official paper about the wound up of the IBC??? If do i can never wound up the european llc and didnt can pay out dvident from european llc also, i can not legally dissolve the european llc.
 

Sols

Staff member
Mentor Group Gold
The official documents would be sent to the registered agent in Dominica. That's how governments of these jurisdictions communicate with companies: exclusively via the local point of contact. And if you have nominees, you have even less of a connection to the government and the IBC/company registry.

Try picking up the phone and calling people, if you aren't getting answers by email.
 

mklstmsfrg

New member
only one question, probably somebody know the answer.
in the normal case, so no as in my case, that the goverment repeal the legislation of the IBCs,
i mean in the case you simply doesnt pay the renewal fee, you do not have the right to receive a paper from the closing/wound up of the company?
 

Sols

Staff member
Mentor Group Gold
Correct, if you simply don't pay renewal fee, you don't get any official paper sent to you. It goes to the registered agent.
 

mklstmsfrg

New member
update:
FSU (Financial Service Unit) answered me as follows:
Dear Mr.

The IBC Agent is responsible for writing to the Registrar of Companies to have the company struck off. The process can take 1 to 3 months as it must be advertised for at least 6 weeks in the gazette.
Regards
xxx

After that i contacted the IBC agency, and i don't get any answers, the problem seems to be not possible to solve :(((((((
 

mklstmsfrg

New member
the reason is that there is a structutre, the Dominica LLC is own a a part of on european llc, the other part own myself,
i want to remove the dominician llc remove from the structure, so i will be only 1/1 owner of the european llc, and this change is
update in registry of the european llc.
The Registry in EU Country doesn't do this changes, until i give a proove, that the dominican llc terminated without a sucessor, or i am the sucessor of the company.
 

mklstmsfrg

New member
the answer from european lawyer
-you will need:
1. Confirmation from the Dominican court of registration (or registration authority) that the IBC has been wound up
and removed from the register ,the legislation you have sent is not suitable for this.
2. Proof that you are the legal successor of the IBC.

I would wait for the IBC agency to come back to you. Two weeks is not long enough for an agent who may have 100's if not 1000's of companies. But take no action now. If they do not come back to you in a couple of weeks then speak to a lawyer in Dominica and provide them details of IBC agency and the issue. The repeal allows for the IBC to convert to a normal company under Company Act rather than IBC Act at no cost (yes 25% corporate tax rate you will face and Economic Substance issues). This maybe an intermediate step you can take to again have an active company and then later transfer shares to a new structure. But speak with lawyer over there.
thank you Martin Everson:

the only way, what stay is what you already mentioned.

i got an answer now from local IBC create agency after 6 months, i only quote the most important sentence:

"
Thanks for your email and patience.
We have previously asked these questions to the various authorities and
registrar and they will not issue any such documents."
 
Last edited:

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Thanks for your email and patience.
We have previously asked these questions to the various authorities and
registrar and they will not issue any such documents."

What exact document you asked for?

the answer from european lawyer
-you will need:
1. Confirmation from the Dominican court of registration (or registration authority) that the IBC has been wound up
and removed from the register ,the legislation you have sent is not suitable for this.
2. Proof that you are the legal successor of the IBC.

Unless I have misunderstood you then you have still not got an official answer on status of company right?

In end you may just need to pay a Dominican lawyer to write to Dominican court to get a official response on status of company.
 

mklstmsfrg

New member
Hi, this is the answer what i got from the dominica company agent, there is only one way, as i see, convert the ceased IBC to local company and after dissolve it, a remove from the structure of the european llc.

>Dear Sir,

>Thanks for your email and patience.
>We have previously asked these questions to the various authorities and
>registrar and they will not issue any such documents.

>The best we can offer now is a legal opinion. See draft attached and let
>us know if that will suit your needs. We can add or remove items based
>on your needs.

>Let us know what you decide.

>Best Regards


only for understanding, I asked for these things:
1. Confirmation from the Dominican court of registration (or registration authority) that the IBC has been wound up
and removed from the register ,the legislation you have sent is not suitable for this.
2. Proof that you are the legal successor of the IBC
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
In that case you need to convert the company over and then wind it down sadly :confused:.
 

mklstmsfrg

New member
yes, this would be ok for me, but i asked today 3rd time the dominican company founder how to do that, but no answer until yet.
i will need a proof that the converted company has been wounded up, a with this paper i can remove the company from owner-structure of the european llc, this would be my goal, at the end i want to be to 1/1 owner of the european llc
 

mklstmsfrg

New member
i contacted the agent and the FSU again how to convert the company to a local company, let see when they answer, last time i wrote in february and got an answer in junius
 

lostguy

Mentor Group Gold
i contacted the agent and the FSU again how to convert the company to a local company, let see when they answer, last time i wrote in february and got an answer in junius
terminat it if you can and move on. This will take ages, I believe you won't see anything before a year by now!
 

mklstmsfrg

New member
what can i do, if nobody from the authorities respond me? the european agent, who founded the company in 2012 is not more reachable also, homepage was shut down.
FSU financial service unit in dominica also doesnt respond
the dominican company founder agency is also doesnt respond
 
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