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Turks & Caicos Islands offshore company  The Turks and Caicos Islands

The Turks and Caicos Islands offshore company offers all the benefits of privacy and asset protection as those of their better known Caribbean neighbours, but without the high profile.

Features of a Turks and Caicos offshore company [exempt International Business Company]

  • Official language - English.

  • The TCI Government issues a 20 year tax exemption certificate which is valid irrespective of any future changes in tax law.

  • No public disclosure of Directors or Shareholders required for an International Business Company.

  • No requirement to file annual audited accounts but it is recommended that financial records should  be kept

  • A company may be owned and administered by one person.    A minimum of one director and one shareholder are required who may be situated anywhere in the world;  both may be the same natural person or corporate entity. 

  • A Company Secretary is required for an offshore company but this may also be the same natural person or corporate entity as the director and shareholder.

  • A TCI nominee Director and nominee Company Secretary incorporate the company initially and may be retained.   Other Directors may be appointed if required or the nominee director will give a Power of Attorney to the owner of the company to act in the capacity of a director.

  • No tax or stamp duty is payable to the TCI authorities for an offshore company

  • Several classes of share permitted

  • Normal authorised share capital is US$5,000 with all shares having par value at $1 each.  A minimum of one share of $1 must be issued to establish ownership of the company.

  • Share capital may be expressed in any currency, the par value of shares may be designated.

  • Minimum issued capital is one share of par value or no par value.

  • Ownership of shares may be settled into a Trust (see section on Trusts in our "Why Go Offshore" page)

  • IBCs may not trade nor own property within the TCI, nor undertake the business of assurance, banking, insurance reinsurance, fund management, trust management, trusteeship, collective investment schemes or giving of investment advice.

  • Company names need to be pre-approved for availability and acceptability, but there is no restriction on the ending of a name. For a list of names that are already pre-approved and are available, click here.

  • Greater number of available names than most jurisdictions due to lower number of registrations.

  • Incorporation pack includes local Registered Office, Registered Agent, Government Tax, Certificate of Incorporation, Memorandum & Articles of Association, Certificate of Tax Exemption, Share Certificates.

  • A Foreign translation of the English company name is allowed at the Registrar.  This translation will appear on the Certificate of Incorporation and Memorandum & Articles of Association.   A foreign translation of the Memorandum & Articles of Association is also allowed to be registered with the Registrar.

General Information
Location Caribbean basin
Capital Grand Turks
Currency US dollar
Languages English, Creole
Common or Civil Law Common
Double Taxation Treaties None
Exchange Controls None
Political Stability Good
Advantages/Disadvantages
Advantages Disadvantages
Highly flexible legislation Largely unknown due to a lack of marketing
Exemption from wealth, capital gains, gift and inheritance taxes  
A twenty year guarantee of exemption from future taxes and increases in Government taxes  
Company Information
Type of Company Exempt / International Business Company
Company Law Companies Ordinance 1981 as amended
Company Names Prior approval required
Disclosure of Beneficial Owner No
Migration of Domicile Permitted Yes
Tax on Offshore Profits Nil
Language of Name Latin or Chinese alphabets
Corporate Requirements
Minimum Number of Shareholders One
Minimum Number of Directors One.  May be same person as Shareholder.
Bearer Shares Allowed Yes
Corporate Directors Permitted Yes
Company Secretary Required Yes.    May be same person as director.
Standard Authorised Share Capital US$ 5,000 (Minimum $1 share must be issued.)
Local Requirements
Registered Office/Agent Yes, local registered office required
Company Secretary No, the secretary may be your own
Local Directors No, the director may be your own
Meetings Meetings need not be held on the Island.
Government Register of Directors No
Government Register of Shareholders No
Annual Requirements
Annual Return Yes, an annual declaration is required that the company continues to comply with the Companies Ordinance
Submit Accounts No

To establish a Trust  

We are able to arrange for the establishment of a Trust in Jersey, Turks and Caicos or the British Virgin Islands in which to settle the shares of a company or other assets.

To establish an Offshore Bank Account 

We are also able to arrange a suitable introduction for a bank account for the company if this is required.  However, it is more difficult to establish a bank account where a company has issued bearer shares, and banks will often require the company to issue a corporate resolution to the effect that the option to issue bearer shares will never be exercised.

About the Turks and Caicos Islands

The Turks and Caicos Islands are a group of Caribbean islands which lie 930km (575 miles) south-east of Miami.   They are an English-speaking British Crown Dependency with an independent internal government.

The 17 strong Legislative Council is elected by the islanders.   The Council stands for four years ensuring political stability, with Britain being responsible for defence and foreign affairs.   A Governor is appointed to represent Her Majesty the Queen.

Local legislation regulates company incorporation, trust matters and insurance and banking law under the control of a Superintendent of the Financial Services Commission.  Both the Companies' Ordinance and the Confidential Relationships' Ordinance make it a criminal offence, punishable by a fine of $50,000 and up to three years in prison, for professionals or others to reveal confidential information relating to a TCI company. This type of legislation is unique to the Turks and Caicos Islands and adds an additional layer of anonymity for the beneficial owner.   The legal system is based on English Common Law with local statutes being approved by the British government.

There are daily scheduled airline services from Miami, the flight taking one hour and forty minutes.  The islands have excellent telecommunications, postal and courier services.

Christopher Columbus is attributed with the discovery of the islands in 1492, and it is known that Juan Ponce de Leon visited in 1512.   The first known settlers were Lucayan Indians and Bermudians.    Today the population numbers approximately 13,000.   The Turks and Caicos Islands are a discreet, low-profile, but well-regulated offshore jurisdiction.

Further information:

Please get in touch with us if you have any questions, or would like to discuss incorporating in the Turks and Caicos Islands, or would like us to send  full details of Fees.  Click on this link:  Offshore Company Enquiry Form

All incorporation and banking matters are handled personally by one of our directors to ensure absolute confidentiality,  and we offer guidance and assistance with every part of the procedure and completion of documents and application forms.

Please note, we do not give tax or legal advice and it is advisable that clients seek professional advice on the possible tax implications deriving from their particular place of domicile if they have any queries in this regard.

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