Bank Account Opening in Dominica

Foreigners can open a bank account in Dominica, and banks on the island have started to offer online onboarding. Requirements still differ a lot from bank to bank. A Dominica bank account opening is an application, not a purchase: the bank runs its own anti-money-laundering checks and can decline without giving every reason. We prepare the pack the bank asks for and stay on the application until the bank opens the account or declines it.

Banks in Dominica

Dominica has a small banking market: an indigenous commercial bank, the National Bank of Dominica; branches of regional banks such as Republic Bank (EC) and CIBC Caribbean; and a state development bank, according to Invest Dominica. Republic Bank (EC) took over Scotiabank's Eastern Caribbean branches, so former Scotiabank accounts on the island are now Republic accounts. Not every institution serves foreigners, and some only open foreigners' accounts in person, so the choice of bank matters.

Online onboarding

Republic Bank (EC) runs RepublicOnboard, an online channel open to nationals and to non-nationals who qualify. It asks for:

• A valid passport
• A utility bill dated within the last three months as proof of address, or a lease and letter of authorisation if the bill is not in your name
• A job letter or pay slip dated within the last three months, or projected cash flow, contracts, or financial statements if you are self-employed
• A phone with WhatsApp for a possible video call, and a device with a camera for a selfie and liveness check

The applicant must be at least 18. People who pay tax in other countries can be onboarded if they otherwise qualify.

Documents for a branch or remote application

Where online onboarding is not available, banks commonly ask non-residents for a passport and a second photo ID, proof of address, a reference letter from their current bank, proof of income, and a cover letter explaining why they want the account. Copies sent from abroad usually need to be notarised, and documents not in English may need a certified translation.

Foreign-currency accounts

Most accounts are held in Eastern Caribbean dollars (XCD), which are pegged to the US dollar. Invest Dominica notes that a foreign-currency account can be allowed on application to the Ministry of Finance, and that the main consideration is a source of foreign earnings. We check whether your bank needs that approval for the currency you want.

Company accounts

A company account needs the company's constitution and certificate of incorporation, a certificate of good standing, a directors' resolution to open the account, the list of signatories, and identification and bank references for every director, signatory, and beneficial owner. Some banks only open corporate accounts for companies registered in Dominica.

Why applications get delayed or refused

• Proof of address or income that is older than three months
• A utility bill in someone else's name without the letter of authorisation
• A purpose for the account that is vague, or deposits that do not match the paperwork
• Choosing a bank that does not open accounts for foreigners remotely
• Missing tax-residence (FATCA/CRS) answers

Related to your application

A local account is often opened alongside other paperwork. If you hold or are applying for Dominica citizenship by investment, the bank can ask for your certificate of registration or passport as part of its checks. Our guide on using a Dominica passport to open an offshore bank account explains how the passport is used in KYC. You can browse every Dominica service, including company incorporation, passport renewal, and the police clearance certificate.

• A check of which bank in Dominica will consider your nationality, residence, and planned use of the account
• A document checklist built from that bank's current rules for non-residents
• Review of your passport, second ID, proof of address, references, and source-of-funds papers before anything is sent
• Help arranging notarised or certified copies, apostilles, and translations when the bank asks for them
• Preparation of the bank's application, signature, and tax-residence (FATCA/CRS) forms
• Submission and follow-up with the bank, including answers to its compliance questions
• A clear note in advance if the bank wants a branch visit, a video call, or more documents
• For companies: preparation of the corporate pack (incorporation documents, registers, good standing, ownership chart, board resolution)

1. Brief. Tell us who the account is for (you, your family, or your company), where you live, the currencies you need, and what the account will be used for.
2. Bank match. We identify a bank in Dominica that accepts your profile and confirm its document list, whether it needs a visit, and its opening deposit and fees. You then receive our quote.
3. Document pack. You send scans; we check them, arrange notarised copies, references, or translations if needed, and fill in the bank's forms with you.
4. Submission. The signed forms and certified documents go to the bank, by courier where originals are required.
5. Compliance review. The bank runs its due-diligence checks and may ask follow-up questions about your income, assets, or planned transactions. We help you answer them.
6. Account opened. The bank confirms the account number and you fund the opening deposit. Cards and online-banking access follow on the bank's own timeline.
7. After opening. Keep your details up to date: banks ask account holders to refresh identification and address documents from time to time.

You receive a quote before any filing starts. It separates the CitizenX fee from the bank's opening deposit and charges, notarisation, apostille, translation, and courier costs. Those extras are added only when they apply, and only after you approve them.

Minimum opening deposits and monthly fees are set by each bank and differ by account type, so we confirm them with the chosen bank before you apply.