The Turks and Caicos Islands are a British Overseas Territory located in the Atlantic Ocean, southeast of the Bahamas. The islands have their own Constitution, which provides the framework for local governance. Legislative power is vested in the House of Assembly, which passes laws on domestic matters.
The absence of corporate income tax, personal income tax, capital gains tax, and withholding taxes makes it a highly favorable location for companies looking to minimize tax burdens. Businesses can operate without the pressures of direct taxation, which provides a substantial financial advantage.
Manimama ensures a seamless company registration process in Turks and Caicos Islands. Trust us to provide expert guidance and support, so your business can thrive from day one in the Turks and Caicos Islands. Start your journey with confidence, knowing you have the best team by your side.
Legal Opinion about Turks and Caicos Islands as a Jurisdiction for Company Formation
Ganna Voievodina
Manimama, CEO
"The Turks and Caicos Islands have emerged as a prime offshore jurisdiction in the Caribbean, offering notable advantages for company formation. With no corporate income tax, no capital gains tax, and no withholding tax, the islands provide a highly favorable environment for businesses seeking to minimize tax liabilities. The absence of strict accounting and auditing requirements for certain company types adds to the cost-effectiveness of operating in this jurisdiction. The islands also benefit from a politically stable environment, underpinned by the legal protections of being a British Overseas Territory. With no foreign exchange controls and the use of the US dollar as its currency, Turks and Caicos offers a flexible, stable, and investor-friendly landscape for company formation and international operations".
Our Packages
Our comprehensive packages simplify the process of setting up the perfect legal entity for your business whether you are a small start-up, a non-profit company, or an international company. Let us guide you through every step, ensuring your business begins on a solid foundation.
Company Formation
- Company formation
- Registered address for the 1st year
- Annual accounting requirement bookkeeping
Annual Services
- Company renewal and registered address
- Annual Government Tax
- Mandatory Financial Beneficiary Report
Other Services
- Set of corporate documents (certified/apostille)
- Nominal service for 1 year
- Offshore banking
Key Numbers about Turks and Caicos Islands as a Jurisdiction for Company Formation
2 weeksaverage term of company formation |
аt least 1shareholder in the company |
аt least 1director in the company |
Nocorporate income tax (CIT) |
Nopersonal income tax (PIT) |
Novalue-added tax (VAT) |
Set up Your Company in Turks and Caicos Islands in Several Steps
Step 1. Initial setup
- Initiating a preliminary project assessment
- Preparation and filing of the package of documents
Step 2. Company registration
- Choose a company name
- Appoint a local representative
- Preparation of company documents
- Pay registration fees
- Issuing of a Certificate of Incorporation and corporate documents
- Open of a bank account
- Obtain the necessary licenses (Business license, Director’s license)
Requirements for Company Formation in the Turks and Caicos Islands
Before deciding to set up a new company, read the information below to understand the characteristics of a Limited Liability Company (LLC):
Shareholders: at least one shareholder (can be any nationality and can reside anywhere in the world, can also be a legal entity).
Director: at least one director (can be any nationality and can reside anywhere in the world, can also be a legal entity).
Minimum share capital: standard is US$5,000 and minimum paid up share capital is US$1.
Legal address: a company must have a registered address in the Turks and Caicos Islands.
Personal Presence Required: no.
Accounting: no.
Taxes in Turks and Caicos Islands
There is no Corporate income tax (CIT).
There is no Personal income tax (PIT).
There is no Value-added tax (VAT).
Double taxation avoidance agreements in Turks and Caicos Islands: The Turks and Caicos Islands has not ratified any comprehensive double taxation avoidance agreements.
Start Your Company Formation Process with Manimama
There are numerous reasons why Manimama is the leading company formation agent in the Turks and Caicos Islands:
Expertise in the Turk and Caicos Islands Regulations
- 1. Manimama has an in-depth understanding of the Turk and Caicos Islands legal and regulatory framework.
- 2. Our team ensures all legal requirements are meticulously met for a seamless company formation process.
Local and International Experience
- 1. With extensive experience in both local and international markets, Manimama can cater to a diverse range of business needs.
- 2. Our expertise spans various industries, providing customized solutions for each client.
Efficient and Timely Service
- 1. We pride ourselves on our swift turnaround times, ensuring your company is registered promptly.
- 2. Our efficient processes minimize delays and get your business up and running quickly.
Client-Centric Approach
- 1. Manimama prioritizes customer satisfaction by offering personalized support and guidance.
- 2. Our dedicated team is always available to address any concerns and provide expert advice.
Robust Network of Local Partners
- 1. We have established strong relationships with local authorities, banks, and service providers.
- 2. This network ensures that your business receives the best possible support and resources.
Ongoing Compliance Support
- 1. We provide continuous support to ensure your business remains compliant with laws of the Turk and Caicos Islands.
- 2. Our team keeps you updated on any regulatory changes that may impact your company.
Frequently Asked Questions
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What are the benefits of a company formation in the Turks and Caicos Islands?The Turks and Caicos Islands offers a tax-free environment, political stability as a British Overseas Territory, flexible corporate structures, no residency requirements for directors or shareholders, and minimal reporting obligations, making it a highly attractive offshore jurisdiction.
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Is there a corporate income tax in the Turks and Caicos Islands?The territory does not impose corporate income tax on businesses operating within its borders.
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Are there residency requirements for shareholders or directors?No, there are no residency requirements for shareholders.
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How long does it take to form a company in the Turks and Caicos Islands?Formation typically takes up to 2 weeks, depending on documentation.
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What language is used for company registration?The language used for company registration in the Turks and Caicos Islands is English, as it is the official language of the jurisdiction.
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Is there currency control for non-residents?No, there are no currency control restrictions for non-residents.
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What is the minimum share capital requirement?Standard authorised share capital is US$5,000. Minimum paid up share capital is US$1.
Client Feedbacks
"Manimama OU provided exceptional legal services, guiding us through the complexities of international business setup with professionalism and expertise. Their team's attention to detail ensured our compliance and smooth operation."
"I highly recommend Manimama OU for their outstanding support. Their knowledgeable lawyers made the entire process straightforward and efficient."
"The legal advice and services from Manimama OU were top-notch. Their dedication and thorough understanding of our needs helped us achieve our business goals seamlessly."
Manimama as the Best Solution for Your Company Formation in the Turks and Caicos Islands
By choosing our company formation service in the Turks and Caicos Islands, you are partnering with a law firm that values integrity, expertise, and client satisfaction. Let us help you set up your company in the Turks and Caicos Islands and pave the way for your business success.
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