Dominica has developed a stringent offshore banking
regime. Under the Offshore Banking Act of 1996/1997
(as amended), offshore banks like Asprofin are granted
Class A licenses and enjoy a 0% tax status on foreign
income. The bank is regulated by Dominica’s Financial
Services Unit (FSU), which since 2008 has enforced
rigorous supervision. The FSU is “one of the most
stringent financial authorities in the Caribbean”,
overseeing banks, insurance, and other entities.
Regulators emphasize quality over quantity in
licensees, ensuring that licensed institutions meet high
compliance standards. By law, Asprofin (and peers)
must have onshore directors/compliance o icers, and
submit to enhanced due diligence. Such robust
licensing (including a special Crypto Banking license
that Dominica uniquely o ers) and oversight underpin
Asprofin’s credibility.
Provides the legal basis for Asprofin’s license. Section 5 of this Act explicitly authorizes “global offshore banking business”. Licensees are exempt from local taxes on overseas income, enabling the bank to pass on favorable returns to clients.
Established 2008, the FSU conducts AML/CFT supervision, on-site exams, and license monitoring. For example, under the Money Laundering Prevention Act (2011), the FSU became the AML authority. Asprofin complies with real-time monitoring and regular audits as mandated by law. The FSU’s focus on “customer confidence and stability” has grown Dominica’s reputation as oshore center.
Dominica is not a member of the EU or OECD’s harmful tax regime lists, and it has adopted CRS (Common Reporting Standard) for transparency among participating countries. However, as an offshore jurisdiction, Dominica exempts foreign-source income from local taxation. For UHNWIs, this means assets held and income earned outside Dominica are tax-free by Dominican law. The bank assists clients in structuring affairs (e.g. via trusts or companies) to legally leverage Dominica’s 0% tax policy without violating other jurisdictions’ rules. Crucially, non-Dominican beneficiaries and companies qualify, maintaining the “international” status of their structures.
Even though Asprofin benefits from no taxes in Dominica, it adheres to international AML and reporting norms. Dominica’s improved compliance (evidenced by removal from the EU blacklist in 2021) means the bank reports on clients to their home countries under CRS, ensuring transparency and legitimacy. As a result, Asprofin can advertise “0% corporate tax” to oshore earnings while staying within global frameworks
Clients often use a suite of Dominican vehicles (IBC corporations, trusts, foundations) that conform to 0% tax and privacy rules. For instance, a trust beneficiary who is non-resident pays no Dominican tax on distributions. Asprofin’s legal team ensures all structures meet both Dominican law and international norms
To meet global standards, Asprofin employs cutting-edge KYC/AML technology. It partners with LexisNexis Risk Solutions for sanctions screening, PEP checks, and transaction monitoring. LexisNexis states its tools “seamlessly integrate into your systems, providing the insights and tools needed to navigate global compliance challenges”. Similarly, Asprofin uses Sumsub, a leading identity verification platform,enabling biometric client onboarding. Sumsub advertises an “all-in-one verification platform”
covering KYC/KYB/AML and transaction monitoring. By leveraging these services, Asprofin achieves fast, robust due diligence: documents are auto-verified, face/ID matching is performed, and ongoing monitoring flags suspicious activity in real-time. This deep tech integration satisfies regulators and clients alike, ensuring deposits are clean and that the bank
adapts instantly to changing rules (e.g. updates to global sanctions lists or new FinCEN advisories)
Dominica guarantees strong privacy rights for offshore
clients. Strict confidentiality laws shield client data; banking secrecy is protected by statute, and information disclosures occur only under court order or international treaty. This legal environment “attracts many clients” due to its robust secrecy provisions. Asset protection is baked into the system: as noted, Dominican trusts and IBCs are insulated from local
claims, securing wealth from foreign judgments. The FSU and government also emphasize client confidentiality, with o fficial policies confirming client data is held at “the highest level of confidentiality”. Together, these laws ensure Asprofin clients’ identities and holdings are well protected, a key expectation for privacy-focused UHNW investors
Hear from our satisfied clients! At Asprofin Bank, we pride ourselves on delivering exceptional service and personalized financial solutions. Read our client testimonials to see how we’ve helped individuals and businesses achieve their financial goals with trust, expertise, and professionalism. Experience transformative digital banking journeys with Asprofin Bank, revolutionizing financial experiences using advanced technology.
US Private Banker
Asprofin Bank’s professionalism and personalized attention have made a world of difference in managing my finances. Their team has guided me through complex financial decisions with ease, always ensuring that my investments align with my goals. I truly value the trust and peace of mind they provide.
Private Client
Asprofin Bank has been an incredible partner in managing my financial portfolio. Their personalized approach, expert advice, and commitment to my long-term goals have made a significant impact on my wealth management. I trust them completely with my financial future, and their attention to detail and professionalism is unmatched.
