Exempted Limited Partnerships (“LPs”) in TCI are usually provided with a Guarantee of Exemption from Taxation in TCI for 50 years which makes them particularly attractive for individuals seeking security for the longer term (in the case of exempted companies the exemption lasts for 20 years).
Turks and Caicos Limited Partnerships Key Features
- Limited Partnerships are partnerships in which there are one (1) or more general partners and one (1) or more limited partners.
- General partners may be personally responsible for any debt of the firm in the event assets are insufficient to make good any debts.
- Limited Partners are, generally, liable for their agreed investment in the firm and nothing more.
Turks and Caicos Islands Limited Partnerships Legal Requirements
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Turks and Caicos Island LP |
Corporate Details |
|
General |
|
|
Yes |
|
Yes |
|
Share capital or equivalent |
|
|
USD |
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Any |
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Directors | Officers | Partners |
|
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1 Limited Partner and 1 General Partner |
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None |
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No |
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Yes |
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Company Secretary |
|
|
No |
|
Accounts |
|
|
Yes |
|
No |
|
Yes |
Turks and Caicos Islands Tax Treatment
Turks and Caicos Islands LP are Tax Exempt
Turks and Caicos Islands Duration for set-up
2 Weeks
Distinctive Benefits of the Turks and Caicos LP
- Limiting liability;
- Investing into the US (or other jurisdiction as may be applicable) without being deemed to be doing business there for tax purposes;
- Avoiding corporation tax on dividend distributions made to US limited partners/investors;
- Raising venture capital.
- Holding real property or assets ;
- Dissuading and deferring frivolous law-suits
The Valsen Advantage
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers