Turks & Caicos Company Formations
The majority of companies registered in the Turks and Caicos Islands are Exempt, doing business outside of the Turks and Caicos.
Turks and Caicos Exempt Company Formation - 2 -4 days
- Obtaining company name clearance
- Liaising with the local registrar and relevant authorities
- Structuring the company as per your requirements
- Prepare your Company Registration Forms
- Drafting the Articles of Association / Statutes
- File the documents with the Financial Services Commission
- Appoint the Directors
- Government Incorporation fee
- Initial Government filing fee payable on incorporation
- Certificate of Incorporation
- Issue of shares and production of Share Certificates
- All documents and certificates supplied in a professional folder
- Delivery of documents by FedEx / DHL courier
Benefits of a Turks & Caicos Islands Company
- No requirements to file details of shareholders or directors giving high levels of confidentiality
- No requirement for general shareholder meetings
- Share capital may be in any currency
- The Confidence Relationships Ordinance imposes duty of confidentiality upon banks, professional advisers, government officers and other persons holding positions of trust
- The official language is English, easing business activity
- The official currency is the US Dollar
- Politically very stable and a British protectorate
- Financial records should be kept to reflect the financial position of the company, but financial statements are not required for filing
- We offer our clients a reliable company formation service in Turks and Caicos Islands
- It is not necessary to visit Turks and Caicos Islands to complete your incorporation
- Our companies incorporation system comply with the Turks and Caicos Islands Companies Acts
Features of the Turks and Caicos Islands Exempt company:
- Incorporation of a standard limited liability company usually takes one or two days.
- The name of the company may be in any language and the word Limited need not appear as part of the name. Suffixes such as Inc., Corp., AG., and IBC are common.
- The capital of the company may be expressed in any currency and there are no minimum capital requirements. Different classes of shares may be issued with different rights attaching to each class.
- It is not necessary to include reference to the company’s objects and powers in its memorandum of association, in which case the company has full power and authority to carry out any lawful activity.
- Only one subscriber is required to incorporate and Shareholders, Directors and Officers may be limited to one person each, with the same person fulfilling all three functions.
- A company may act as a Shareholder, Director or Officer, who need not be resident nor hold meetings in the TCI.
- There is no legal requirement to maintain a public register of Shareholders, Directors and Officers, nor is a register of Mortgages and Charges required to be maintained.
- No annual return containing financial information or details of Shareholders, Directors and Officers need to be filed.
- Audits are not required.
- A moratorium on the levying of any taxes for a period of 20 years automatically applies to every exempt company.
An exempt company receives a certificate issued in the name of the Governor which guarantees that the company will be exempt from all forms of taxation, both in respect of its own operations and on the shares of the company, for a period of 20 years from its date of Incorporation.
It is normal to incorporate an exempt company with an authorised share capital of $5,000, divided into 5,000 common voting shares of US$1 each, this being the maximum capital for the minimum duty payable at the time of incorporation.
An exempted company need only have one shareholder. There is no requirement to file the details of shareholders on any public record.
A minimum of one director is required and there is no requirement to file the details of directors on any public record.
Company Incorporation Documents
Once incorporated we provide a set of corporate documents for your Turks and Caicos Islands company which, includes the Certificate of Incorporation, Memorandum of Association the Articles of Association, first minutes and share certificates. Copies of the company incorporation documents are sent via email and the originals from the companies registry are sent to you in a corporate folder.
Your Turks and Caicos Islands company must have a registered office, which must be a physical address in Turks and Caicos Islands. We can provide this service when incorporporating your company.
Company Directors and Shareholders
- Directors and Shareholders may be of any nationality
- The names of directors and shareholders are filed at the companies registry
- There is no requirement to appoint a Turks and Caicos Islands resident director
- The shareholders of the Turks and Caicos Islands company can be either corporations or individuals
There are no statutory requirements to hold an annual general meeting for companies registered in the Turks & Caicos Islands. Shareholders holding more than 15% of the issued shares are entitled to call a general meeting for the purpose of a special resolution.
The Turks & Caicos Islands have no income tax, capital gains tax or any other form of corporate taxation.
Company Registration Renewal
All companies wishing to engage in any form of business activity in the Turks & Caicos Islands are required to have a business license, renewable on an annual basis. There are many different types of business license with the annual fee ranging from US$300 - US$13,500. A company engaging in more than one type of business activity must acquire more than one license.
Turks and Caicos Islands Company Formations
We can incorporate your Turks and Caicos Islands company, according to your specifications, please click "Incorporate Now" for our fees and a timescale.