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
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Turks and Caicos Exempt Company |
Corporate Details |
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General |
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· Type of Entity |
Exempt Company |
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· Registered Office in Turks and Caicos |
Yes |
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· Shelf company availability |
Yes |
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· Corporate Taxation |
None |
| · Access to Double Taxation Treaties | No |
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Share capital or equivalent |
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· Standard currency |
US Dollar |
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· Permitted currencies |
Any |
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· Minimum paid up |
US$1. |
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· Usual authorized |
USD 5,000 |
| · Bearer shares allowed |
Yes |
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· No par value shares allowed |
Yes |
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Directors |
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· Minimum number |
One |
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· Local required |
No |
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· Publicly accessible records |
No |
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· Location of meetings |
Anywhere |
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· Corporate directorship allowed |
Yes |
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Shareholders |
|
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· Minimum number |
One |
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· Publicly accessible records |
No |
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· Corporate shareholder allowed |
Yes |
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· Location of meetings |
Anywhere |
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Company Secretary |
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· Required |
Yes |
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· Local or qualified |
Yes |
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Accounts |
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· Requirements to prepare |
Yes |
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· Audit requirements |
No |
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· Requirements to file accounts |
No |
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· Publicly accessible accounts |
No |
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Other |
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· Requirement to file annual return |
No |
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· Migration of domicile permitted |
Yes |
Due Diligence Requirements
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Individual Shareholders/ Directors |
Corporate Shareholders/ Directors |
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Advantages
- Exemption from all local taxes and stamp duty
- No exchange controls
- Maximum confidentiality and anonymity
- Ease of operation, maintenance and control
- Asset security
- No disclosure or minimum capital requirements
- The minimum number of shareholders is one
- The minimum number of directors is one
- Corporate directors and shareholders are permitted
- Excellent and flexible post-incorporation follow-up services
- No statutory requirement to hold annual general meetings
- 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.