August 6, 2025
How Zitadelle AG Can Guide You to a Dominica Banking License
1. Why Choose Dominica for Offshore Banking?
Dominica is emerging as a strong contender for offshore banking due to its robust privacy laws, comprehensive license scope (retail, investment, even crypto banking), and notably competitive capital requirements
Its licensing regime is overseen by the Financial Services Unit (FSU), operating under the Offshore Banking Acts of 1996 and 1997, as amended.
2. Basic Licensing Requirements
Requirement Area | Details |
|---|---|
Minimum Capital | USD 1 million, held in cash or liquid instruments; can be pledged in an international bank account |
Directors & Management | At least one resident director (Dominica-based) and one Compliance/AML Officer, both approved by the FSU. Additional non-resident directors permitted with due diligence clearance |
Shareholders | Minimum one shareholder (individual or corporate). All must pass FSU vetting via due diligence |
Physical Presence | Must maintain a local office, at least two authorized agents, local auditor, and insurance/fidelity bond |
3. Application Roadmap & Timeline
According to industry sources:
Due Diligence: Zitadelle AG prepares a full due diligence dossier—including police clearance, KYC, CVs, references, source of funds—directly submitted to the FSU
Entity Setup: We assist in incorporating a Dominican entity compliant with local law and ready for licensing
Submitting Application: Includes disclosure/consent forms, business plan, 3‑year P&L projections, compliance manuals and audit plans
Operational Readiness: Zitadelle helps establish the physical infrastructure, staffing, compliance systems, and even nominee director services if needed
Regulator Approval: Typical processing time is 8–12 months
4. Why Partner with Zitadelle AG?
Proven Expertise
Drawing on your proprietary presentation and Zitadelle’s experience with cross‑jurisdictional licensing, we offer a turnkey service from due diligence to launch.
Regulatory Trust & Compliance
We guide clients through FSU expectations—ensuring fit and proper due diligence emerges successfully, including background checks, financial disclosures, professional references, and insurance arrangements
Cost Transparent
Total out‑of‑pocket includes:
FSU non‑refundable application fee (~USD 1,500–2,000).
License registration and renewal fees, typically USD 8,000/year
Initial paid‑up capital of USD 1 million with a capital buffer
Advisory, setup, audit, staffing, and compliance costs determined by the selected services package.
Dominica-Licensed Offshore Banks
These banks are explicitly mentioned as licensed under Dominica’s Offshore Banking Act:
Activa Bank & Trust Corporation
Asprofin Bank Corporation (founded 2012 in Roseau)
BANFERS Bank
Barnett Capital Bank
Big 1 Bank Ltd.
Commonwealth Bank
Finext Eastern Bank Corporation (formerly Digi Bank Corp, Arton Bank Corp)
iBank Corporation
EQIBANK Limited (formerly Interoceanic Bank of the Caribbean Inc)
Paxum Bank Limited (explicitly chartered under Offshore Banking Act No. 8 of 1996)
Prudential Bank Corporation
Standard Commerce Bank Ltd.
Zuma Bank Corporation
The Kingdom Bank Corporation
Growmore International Bank & Trust Inc.
AXIA Capital Bank Ltd.
Guardian International Bank & Trust Corporation
