The Turks and Caicos Islands are an English speaking British Dependency which lie 930 km (575 miles) south-cast of Miami. A Governor is appointed by The British Government to represent Her Majesty the Queen. The Legislative Council, elected by the islanders, stands for four years, this ensuring political stability with Britain responsible for defence and foreign affairs.

The legal system is based on English common law with local statutes being approved by the British governments. There is legislation in place regulating company incorporation, trust matters and insurance and banking law under the control of a superintendent of the Financial Services Commission.

Secrecy is imposed by the Confidential Relationships Ordinance 1979 on anyone in possession of confidential information however obtained. Any breach of express or implied condition of professional or commercial confidence is severely punishable by a $50,000 fine and/or 3 years in Prison.

The local currency is the U. S. dollar. There are no exchange control regulations. The islands have no tax treaties with any other country, and there is no obligation to give information requested by any other government or revenue authority.

Under the Companies Ordinance 1981, a TCI Exempt company receives a certificate signed by the Governor which guarantees that the company will be exempt from all forms of taxation for a period of 20 years from the date of its incorporation.

Companies may be incorporated with a translation of the English name appearing on the certificate of Incorporation. There is also the ability to lodge a translated version of the English Memorandum and Articles of Association with the Registrar of Companies.

Type of entity Exempt
Type of law Common
Minimum government fee US$100 Incorporation, $300 renewal
Corporate taxation Nil
Double tax treaties None
Name requirements The company can end with any word i.e Limited, Incorporated, in fact it can have no ending at all
Name restrictions Assurrance, Bank, Building Society, Trust Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal and other usual names (these names can be allowed if written consent is applied for from the Registrar of Companies
Change in Domicile permitted Yes
Share in capital or equivalent
Standard currency of share capital US$
Permitted currencies of capital Any
Minimum paid uip share capital US$1
Usual authorised share capital US$5,000
Directors or Managers
Minumum number of directors/managers One
Local directors required No
Government register/pubic record of directors/managers No
Location of directors/managers meetings Anywhere
Minimum number of shareholders/members One
Government register/public record of shareholders/members Optional
Location of members meetings Anywhere
Company Secretary
Company secretary required Yes (can be the same person/company as the Director)
Company secretary, local or qualified No


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