Turks & Caicos Islands

beach

The Turks and Caicos Islands are a British Overseas Territory consisting of two groups of tropical islands in the West Indies, the larger Caicos Islands and the smaller Turks Islands, known for tourism and as an offshore financial centre.

The Turks and Caicos Islands lie southeast of Mayaguana in the Bahamas island chain and north of the island of Hispaniola. Cockburn Town, the capital since 1766, is situated on Grand Turk Island about 1,042 kilometres (647 mi) east-southeast of Miami in the United States. The islands have a total land area of 430 square kilometres (170 sq mi). The islands are geographically contiguous to the Bahamas, but are politically a separate entity.

The total population is about 45,000, of whom approximately 22,500 live on Providenciales in the Caicos Islands.

The economies are largely hotels & restaurants, financial services, construction, wholesale & retail trade and health & social work. Most capital goods and food for domestic consumption are imported.

 

Incorporation

Type of company: International Business Company or IBC. An IBC can take the form of company limited by shares, company limited by guarantee, company limited by shares and guarantee, unlimited company and dedicated cell company.

Who can incorporate: Registered Agent Licensed in Turks & Caicos

Time to incorporate: 2 days

Registration fee: ?

Shelf company availability: Yes

Taxation: There are no direct taxes such as income tax, corporation tax, capital gains tax, profit tax, gift tax or death duties.

Minimum annual government fee: ?

Disclosure of beneficial owner: No

Bearer shares: Yes

Standard minimum paid up: US$100

Standard authorised capital:

Permitted currency of capital: Any

Minimum number of shareholders: One

Minimum number of directors: One

Corporate directors: Yes

Local directors: No

Company secretary: Option

Company seal: Not required

Public record of directors & shareholders: No

Location of directors and shareholders meeting: Anywhere

Telephone board meeting: Yes

Access to Double Tax Treaty: No

Requirement to file account: No

Requirement to keep account: Yes

Requirement to file annual return: NO

Change in domicile: Yes

Local registered office address: An IBC must maintain a local registered office in Turks & Caicos and this is the address of a licensed registered agent in Turks & Caicos

Data Sheet

Turks and Caicos Data Sheet – Summary

Type of companyIBC
Common or civil law jurisdictionsCommon
Shelf company availabilityYes
Time to incorporate2 days
Min. annual duty or franchise fee?
Annual return filling fee?
TaxationNil
Disclosure of beneficial ownershipNo
Bearer sharesPermitted
Standard minimum paid up capital?
Standard authorised share capital?
Permitted currency of capitalAny
Minimum number of shareholders1
Minimum numbers of directors1
Corporate directorsYes
Local directorsNo
Company secretaryOption
Company sealOption
Public record of directorsNo
Public record of shareholdersNo
Location of directors meetingAnywhere
Location of shareholders meetingAnywhere
Telephone board meetingYes
Access to Double taxation treatyNO
Requirement to file accountNo
Requirement to keep accountYes
Requirement to file annual returnNO
Change in domicileYes
Local registered addressYes, address of licensed registered agent
Who can incorporate?Registered Agent Licensed in Turks & Caicos.

Banking Options

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