Turks and Caicos Islands Exempt Company

Turks and Caicos offshore companies and business entities offer a suite of other advantages including full exemption from many taxes. As such, Turks and Caicos offshore companies are exempt from tax on capital gain, income tax on corporate tax on profits, estate tax, gift tax, death tax and transfer tax. These tax exemptions are applicable to offshore companies as well as to shareholders. Turks and Caicos offshore banks, offshore trusts and offshore insurance companies are beneficiaries to the same exemptions but are all required to operate in accordance with the rules established by their respective governing laws and meet varying capital and licensing requirements.

 

Key Features

Turks and Caicos Exempt Company

Corporate Details

General

·         Type of Entity

Exempt Company

·         Registered Office in Turks and Caicos

Yes

·         Shelf company availability

Yes

·         Corporate Taxation

None
·         Access to Double Taxation Treaties No

Share capital or equivalent

·         Standard currency

US Dollar

·         Permitted currencies

Any

·         Minimum paid up

US$1.

·         Usual authorized

USD 5,000

·         Bearer shares allowed

Yes

·         No par value shares allowed

Yes

Directors

·         Minimum number

One

·         Local required

No

·         Publicly accessible records

No

·         Location of meetings

Anywhere

·         Corporate directorship allowed

Yes

Shareholders

·         Minimum number

One

·         Publicly accessible records

No

·         Corporate shareholder allowed

Yes

·         Location of meetings

Anywhere

Company Secretary

·         Required

Yes

·         Local or qualified

Yes

Accounts

·         Requirements to prepare

Yes

·         Audit requirements

No

·         Requirements to file accounts

No

·         Publicly accessible accounts

No

Other

·         Requirement to file annual return

No

·         Migration of domicile permitted

Yes

Due Diligence Requirements

Individual Shareholders/ Directors

Corporate Shareholders/ Directors

  1. Certified Passport Copy
  1. Certified copy of certificate of incorporation
  1. Certified proof of address
  1. Certified copy memorandum and articles of association
  1. Summary CV
  1. Register of members
  1. Certified copy of Bank reference
  1. Register of directors
  1. Professional reference
  1. Certificate of good standing

 

 Advantages

  1. Exemption from all local taxes and stamp duty
  2. No exchange controls
  3. Maximum confidentiality and anonymity
  4. Ease of operation, maintenance and control
  5. Asset security
  6. No disclosure or minimum capital requirements
  7. The minimum number of shareholders is one
  8. The minimum number of directors is one
  9. Corporate directors and shareholders are permitted
  10. Excellent and flexible post-incorporation follow-up services
  11. No statutory requirement to hold annual general meetings
  12. Principal Corporate Legislation

 

The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support.