Turks & Caicos Islands is a British overseas territory in the Bahamas Archipelago. Like most of the other island countries and overseas territories, Turks & Caicos Islands primarily depends on tourism and offshore company formation for its economic activity and stability. Large numbers of offshore companies are already operating in the Turks & Caicos Islands while their numbers are increasing continuously due to the popularity of this overseas territory among investors all over the world.
There are several factors that are responsible for continuous growth of offshore companies in Turks & Caicos Islands. These include location of the territory, its being part of UK and the benefits it provide to investors for formation of offshore company.
Following are main benefits that are available for setting up an IBC in Turks & Caicos Islands.
- There are no taxes in Turks & Caicos Islands for offshore companies. These companies are exempted from all types of taxes in case their source of income is from outside Turks & Caicos Islands
- Any new taxes will also not be laid on them for 20 years
- Only a single director and shareholder are required. Both these positions can be taken by a single entity
- Privacy is given utmost importance for IBCs in Turks & Caicos Islands. The names of directors, owners and shareholders are not made public
- The incorporation process is very easy and extremely quick. It usually takes just two working days to register your company here
- As part of UK, the official language in Turks & Caicos Islands is English. It is also the language used in all types of documentation
- Being a British overseas territory, it also provides political and economic stability while also enjoying good reputation as offshore destination. There are no legal issues or concerns for establishing offshore companies in Turks & Caicos Islands
- There is no need for filing of tax or annual accounting
These are few of the most important reasons that make Turks & Caicos Islands an ideal offshore jurisdiction. Anyone willing to setup offshore company in one of the world’s most ideal jurisdiction should take Turks & Caicos Islands is a place to think about seriously. The incorporation process as well as running such company is also extremely simple and beneficial.
If you want to get more information or any type of assistance about setting up IBC in Turks & Caicos Islands then you can do so by contacting DOCS Consultancy via our WhatsApp # 971-56-9971225 or email address [email protected] We are specialist in establishing offshore companies in UAE and other countries.