Eternity Law International — News — Company registration in Turks & Caicos

Company registration in Turks & Caicos

Published:
December 22, 2020

Caicos and Turks are islands located in the Atlantic Ocean. This territory attracts foreign investors as it is an offshore zone.

Benefits and advantages of registering a company in Turks and Caicos

  • A firm on the islands is completely tax exempt.
  • High level of confidentiality of information about shareholders and directors.
  • Possibility to use the nominee service.
  • There is no exchange control.
  • Ensuring the confidentiality of information is an issue to which the utmost attention is paid in Turks and Caicos. According to the Decree regulating confidential relations, the disclosure of information by lawyers or other related persons is not allowed and is punishable by law, which means not only the possible imposition of fines, but also punishment up to and including imprisonment.

Organizational forms for businesses in Turks and Caicos

The most common form of business, to which non-residents are inclined, is Exempt / International Business Compаny or IBC. This company is not taxed, provided that it does business outside the islands and does not have any partnerships with residents. In addition, accounting and reporting are not provided for an offshore company in this jurisdiction.

Company registration procedure in Turks and Caicos

  • An offshore company is permitted to engage in any commercial activity that is not in itself prohibited by law.
  • An offshore company in Turks and Caicos is required to acquire an office and hire a registered agent.
  • The name of the organization must include the phrase Sociedad Anónima or the abbreviation S.A.
  • There is no need to deposit capital. The approximate amount of capital is 5+ thousand dollars.
  • The company is allowed to issue bearer shares.
  • The company must include at least 1 shareholder, which can be an individual or a legal entity.
  • The requirements for the number of directors are the same as for the number of shareholders.
  • The use of nominee services is allowed.
  • The disclosure of information concerning the founders or shareholders can only be in accordance with the decision of the judicial authority.
  • Meetings of directors can be organized in any country.
  • Registration takes no more than 2 weeks.

If you need to register a company in Turks and Caicos, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Turks and Caicos. Write to us in the CRM form and we will help you register a company.

Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.

We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.

If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.

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