Turks and Caicos Islands Exempt Company

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