Turks and Caicos islands flag

TURKS AND CAICOS ISLANDS


The Turks and Caicos Islands are the third most populous British Overseas Territory. They are considered a popular tourist destination as well as an offshore financial center. The territory's tax haven status allows foreign investors to benefit financially by setting up a company in Cockburn Town or another city in the Turks and Caicos Islands. Companies registered here are not directly taxed. The financial benefits, combined with the convenient geographical location, make opening a company in the Turks and Caicos Islands one of the best investment opportunities in the region.

Advantages of company registration

  • English-speaking language environment;
  • The possibility of establishing a company in the Turks and Caicos Islands with 100% foreign capital, which can be deposited in any currency (the legislation does not specify a minimum amount);
  • Confidentiality of beneficiaries, shareholders and directors;
  • No accounting or tax return requirements.

    • Main forms of legal presence and doing business

  • Limited liability companies;
  • Public companies.

    • Most investors open a company in the Turks and Caicos Islands as a private limited company. Only one shareholder and one director are required to form a business. There are no restrictions on their nationality or country of incorporation. Such companies may be designated as International Business Companies (IBCs) if they conduct business outside the islands.

    Registration Procedure

  • Choose a unique company name;
  • Register the company in the Turks and Caicos Islands with the Financial Services Commission (FSC);
  • Open a bank account;
  • Obtain the necessary licenses and permits.

    • Legislation and Regulatory Environment

    The process of forming companies and the basis for their regulation are set out in the Companies Ordinance. Under the Companies Ordinance, directors must be licensed in the Turks and Caicos Islands.

    Under the Anti-Money Laundering and Prevention of Terrorism Regulations, the Financial Services Commission monitors business activities. In addition, it operates in accordance with the requirements of the Caribbean Financial Action Task Force (CFATF).

    Tax system

    Registration of a company in the Turks and Caicos Islands allows businesses to avoid taxation.

  • » Corporate Income Tax (CIT) rate – 0%
  • » Personal Income Tax rate – 0%
  • » Capital Gains Tax rates – none
  • » Value Added Tax - 0%

    • There are no direct taxes here:

  • On corporate and individual income;
  • VAT;
  • On capital gains;
  • On property.
  • All companies must have a license, the price depends on the type of activity.

    • The National Health Insurance (NHI) contribution to the National Health Insurance Board (NHIB) is paid on the income of individuals. These fees are paid in part by the employee and the employer.

  • Import duties are 37.5%.

    • How our experts can help


    Let's say you are evaluating the establishment or purchase of a company in the Turks and Caicos Islands. In this case, the lawyers of "Smart Startup UK" are ready to put this option into practice by providing legal support for the following aspects of business registration in the Turks and Caicos Islands:

  • Request and collect all the data and documents for opening a business in the Turks and Caicos Islands;
  • Choose the name and in the interests of the client, all negotiations are conducted by us with local authorities and banks;
  • We arrange the legal address, accounts and employees, as well as all the necessary documents for applying for the future company;
  • We provide comprehensive legal support for the further functioning of the new legal entity in the Turks and Caicos Islands.


    • The portfolio of "Smart Startup UK" specialists is formed by more than 8,000 cases in the field of registration and support of international business. Our lawyers will apply this experience to the goals of your project.


    CREATE A COMPANY


  • Company name check and reservation
  • Company registration, including government fees
  • Obtaining an administrative identification number
  • Registering the company with government agencies
  • Writing a company charter
  • A set of company charter documents in electronic form
  • Bank contribution for the company's authorized capital
  • Obtaining a foreign investment permit
  • Opening an account at: First Caribbean International Bank, RBC Royal Bank
  • Opening a personal bank account
  • Apostille and translated corporate documents
  • Obtaining a residence permit
  • Free consultation
  • Assistance with online trading and opening on an account at viva.com for online trading
  • Accounting services - 12 months
  • Accounting services
  • Annual renewal 1400 Euro (paid from the second year)

    • *Within 35 days


    IMPORTANT! We can provide you with the initial share capital (if the amount is over 5000 Euro) for registering your company in the form of a loan from our company. Please, if you are interested, make an inquiry to us.


    What is the procedure!

    1. You submit an application for company registration using the application form.

    2. We check whether the company name for registration is available and eligible for registration.

    3. Choose a bank that meets your company's needs from a list of Smart Startup UK partner banks.

    4. We send you a proforma invoice for payment to be paid to our bank account + the amount of your company's initial capital.

    5. You receive all the necessary company documents for reconciliation.

    6. You receive details of your newly opened bank account.

    7. Within the specified period (for the Turks and Caicos Islands it is 35 days) you receive all the services included in the package.

    8. You can manage all the services included in the package through our platform, as our team works 24/7 and you can get help from us within up to 30 minutes. We have built an internal ticket system for our customers, through which we process each of your support requests.


    All services such as management, accounting, bank account opening requests, licensing, tax return filing, tax payment and others are carried out through your account on our platform, making it easier to manage your business!