Companies Ordinance 1981 (as amended)
Structure
1. The minimum number of shareholders is one.
2. The minimum number of directors is one. Director can be of any nationality and need not be resident in the Turks and Caicos Islands. Corporate directors are also permitted.
3. Nominee shareholders and nominee directors are allowed.
4. Registered office must be maintained in the Turks and Caicos Islands.
5. The beneficial ownership of Turks and Caicos company is not disclosed.
Shares and Capital Requirements
There is no specific minimum capital requirement.
Standard authorised share capital is US$5,000.
Minimum paid up share capital is US$1.
Registered shares, shares of no par value, bearer shares, preference shares, redeemable shares and shares with or without voting rights are allowed.
Bearer shares are also permitted.
Taxation
Turks & Caicos Islands has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax.
Offshore Company Providers
Barnett & AssociatesOffers company formation services.
Claymore Corporate Services Ltd
Provides company formation and corporate services.
Corporation Services Limited
Provides company and partnership formation services.
Meridian Trust Company Ltd
Services include company formation and administration.
Saunders Management Ltd
Provides corporate administration services.
Turks & Caicos First Secretarial
Provides offshore company formation and adminstration services.
WB Corporate Management Ltd
Provides company formation and corporate services.
List of Turks & Caicos International Offshore Banks
Background Facts
Turks & Caicos are a two island groups in the North Atlantic Ocean, southeast of The Bahamas just north of Haiti
Population: 46,335 (2012 est.)
Capital: Grand Turk /Cockbum Town
Dialing code: 649
Currency: US dollar
Exchange control:
Turks & Caicos does not have any exchange controls.
Government:
Overseas territory of the UK
Official language: English Language
Legal System:
English common law and civil law
Bank Legislation: (.PDF Downloads)
Companies (Amendment) Ordinance 2012
Companies (Amendment) Ordinance 2011
Companies (Amendment) (No.2) Ordinance 2011
Companies (Amendment) Ordinance 2009
Companies Ordinance Chapter 16.08