Company Registration in the Turks and Caicos Islands - Business Starting & Setup

Want to set up a firm in the Turks and Caicos Islands? We can assist you in starting a business or in buying a shelf company in the Turks and Caicos Islands with a full package of necessary documents, legal advice and follow-up support. Incorporation of a firm in the Turks and Caicos Islands includes provision of a registered office (for at least 1 year in any of our service plans), an apostilled set of constitutional documents, secretarial services and assistance with compliance fee and pre-approval for opening an account in banks of the Turks and Caicos Islands. The total price of company formation in the Turks and Caicos Islands includes all necessary fees and charges for the first year of operation, as well as full one-year nominee service (package Optimum).

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Service packages Legislation Tax System Audit Services
Service packages
Company registration
Legal address per year
Secretarial services for the first year
Fees and duties for the first year
Apostilled bound set of incorporation documents
Nominee service per year
Bank Account Pre-approval
2 480 USD

3 600 USD

4 210 USD

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Corporate Information

Legal System

Legal system of Turks and Caicos is based upon <b>English common law</b> and some locally modified laws of Bahamas and Jamaica.

Companies in Turks and Caicos are governed by the Companies Ordinance.

Types of Entity

The principal forms of business organization in Turks and Caicos are:

  • ordinary resident company;
  • exempt company;
  • foreign company;
  • limited life company;
  • hybrid company

The most common structure is the exempt company.

A company may apply to be registered as an exempted company, if its objects are to be carried out mainly outside the Turks and Caicos Islands.


Company Name

  • Suffixes to denote limited liability: Limited, Corporation, Incorporated or their abbreviations. Can also be incorporated without a suffix denoting limited liability.
  • The name of a proposed company contained in its memorandum of association may end with the words “International Business Company” or the abbreviation “IBC” which shall serve to identify it as an exempted company.
  • Can be in any language using the Latin alphabet or Chinese translation using the Latin alphabet.
  • Names requiring consent or a licence: bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment funds, friendly society, trust, trustee, guarantee, indemnity, underwriters, co-operative, Commonwealth or their foreign language equivalents

Exempt Company Registration

To incorporate an exempt company in Turks and Caicos you should submit with Companies Registry the following documents:

  1. Memorandum of Association (3 copies)
  2. Articles of Association (3 copies)
  3. Any Resolution which may be signed by the parties

The Memorandum and Articles of Association should contain:

  • The proposed name of the company
  • The proposed registered office address
  • The objects of the company
  • A declaration that the liability of the members is limited
  • A declaration confirming that the activities of the company will be undertaken outside the Turks and Caicos Islands

After incorporation, the company should ensure that the location of the registered office is published in the Gazette.

It takes 1 day to register a company in Companies Registry, but on the whole it takes about a week to startup a new company in Turks and Caicos.

Restrictions on Activities

TCI exempt company cannot:

  • trade within the Turks and Caicos Islands, and may not own real estate there.
  • undertake the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes, the rendering of investment advice or any other activity, which may suggest an association with the banking and insurance industries.
  • solicit funds from the public or offer its shares for sale to the public.

Local Registered Office

TCI exempt company should maintain a registered office in the Turks and Caicos Islands at the address of the registered agent what means that a company should also appoint a registered agent.

The following documents should be kept at the registered office:

  • accounting records,
  • meeting minutes,
  • other accounting and reporting company documents


Every company registered under the Companies Ordinance 1981 shall have a common seal upon which its name is engraved in legible letters.


The redomiciliation of companies either to or from the Turks and Caicos Islands is <b>permitted</b>.

An existing overseas company may transfer its domicile to the Turks and Caicos Islands where the laws of the overseas country do not prohibit such a transfer. A Turks and Caicos company can transfer its domicile to an overseas country where the overseas country laws allow for such a transfer. Once a company is redomiciled to the Islands it is deemed to have been incorporated there under the 1981 Companies Ordinance.

Company Structure


A minimum of one director is required. The directors may be natural persons or bodies corporate, be of any nationality and need not resident in the Turks and Caicos Islands.

There is no requirement to file the details of directors on any public record.


All companies incorporated in the Turks and Caicos Islands are required to appoint a company secretary. The company secretary may be a natural person or body corporate, be of any nationality and need not resident in the Turks and Caicos Islands.


An exempted company need only have one shareholder. The shareholders may be natural persons or bodies corporate, be of any nationality and need not resident in the Turks and Caicos Islands.

There is no requirement to file the details of shareholders on any public record.

The company need not hold any annual meetings and such as are held need not be held in the Turks and Caicos Islands.


Beneficiaries’ details do not appear on a public profile. The identity of the beneficial owner of a Turks and Caicos company is treated as strictly confidential and must be disclosed as part of the obligatory due diligence to service providers including firms specializing in company formation, trust managers, lawyers, and accountants, as well as to the auditor. It can only be disclosed by them in the cases stipulated by law and following statutory procedure.

Share Capital and Shares

There is no minimum capital requirement.

It is normal to incorporate an Exempt Company with an authorised share capital of US€ 5,000; divided in to 5,000 common voting shares of US€ 1 each, this being the maximum capital for the minimum duty payable at the time of incorporation.

Thereafter if the authorised share capital exceeds US€ 5,000, the capital duty is increased by 1% of any increase up to US€ 50,000, by 0.5% of any increase over US€ 50,000 and by 0.1% of any amount over and above US€ 100,000.

The minimum issued capital is one share of no par value or one share of par value.

Bearer shares are prohibited from January 1, 2014.

Frequently Asked Questions about Company Registration in a Turks and Caicos Islands

Is Turks & Caicos an offshore?
The Turks and Caicos Islands (TCI) is considered an offshore jurisdiction. Offshore jurisdictions like TCI offer various tax and legal benefits for businesses, including low or no taxes, confidentiality and privacy, and a favorable business environment. However, TCI and other offshore jurisdictions have faced increased scrutiny from governments and international organizations in recent years, so it's important to consider the potential risks and benefits carefully before registering a company there.
What is an exempt company in Turks and Caicos?
An exempt company in the Turks and Caicos Islands is a type of business entity that is exempt from paying corporate income tax in the jurisdiction. Such companies are typically used for international business activities and are highly favored by foreign investors and entrepreneurs. The exemptions and benefits offered to exempt companies may include no requirement to file annual financial statements, no requirement to hold annual general meetings, and reduced compliance requirements. To qualify as an exempt company in the Turks and Caicos, certain criteria must be met, such as having all shareholders be non-resident of the island and having a registered office and agent within the jurisdiction.
What is 12% tax in Turks and Caicos?
The 12% tax in the Turks and Caicos refers to a specific type of tax, known as the "12% Business Levy." This is a tax levied on businesses operating in the Turks and Caicos, and is based on a percentage of the company's gross income. The purpose of this tax is to generate revenue for the government and support local development projects. The exact amount of tax paid will depend on the specific circumstances of the business, such as its size, location, and industry.
How much does it cost to become a citizen of Turks and Caicos?
The cost of becoming a citizen of the Turks and Caicos Islands (TCI) through the TCI Citizenship by Investment Program can vary depending on the specific investment option you choose, as well as other factors such as due diligence fees, legal fees, and other miscellaneous costs. Generally, the cost can range from several hundred thousand dollars to several million dollars.

Core Services and fees for the formation of a company in the Turks and Caicos Islands

— Incorporation

Price2 480 USD

(including incorporation tax and state registry fee)

— Annual government fees


(Stamp Duty) and Companies Registry incorporation fee

— Corporate legal services

Price2 090 USD

(including registered address and registered agent)

—Delivery of documents by courier mail

Price250 USD

DHL or TNT, at cost of a Courier Service

— Apostilled set of Statutory documents

Pricefrom 750 USD

Basic set of documents for setup of a company in the Turks and Caicos Islands

Certificate of Incorporation

Memorandum of Association

Resolution of the subscriber

Minutes of the first Meeting of Directors

Share Certificates

Page with Apostille

Compare Jurisdictions

    Nominee Director

    Price640 USD

    Paid-up “nominee director” set includes the following documents

    Resolution effecting issuing the Power of Attorney

    Consent Letter

    Director Resignation Letter

    Nominee Director’s Declaration

    Resolution effecting the change of Director

    Nominee Shareholder

    Price480 USD

    Paid-up “nominee shareholder” set includes the following documents

    Deed of Trust

    Instrument of Transfer

    Issuance of one apostilled Power of attorney

    Pricefrom 710 USD

    Apostilled Power of Attorney

    Compliance fee in the Turks and Caicos Islands

    Compliance fee is payable in the cases of: incorporation of a company, renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of director / shareholder / BO (except the change to a nominee director / shareholder), signing of documents


    Price250 USD

    simple company structure with only 1 physical person

    For legal entity in structure under GSL administration

    Price150 USD

    additional compliance fee for legal entity in structure under GSL administration (per 1 entity)

    For legal entity in structure not under GSL administration

    Price200 USD

    additional compliance fee for legal entity in structure NOT under GSL administration (per 1 entity)

    For client with high risk Status

    Price350 USD

    Signing of documents

    Price100 USD

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