COMPANY FORMATION IN TURKS AND CAICOS
The Turks and Caicos Islands are the third most populous British Overseas Territory. They are considered a popular tourist destination as an offshore financial center. The territory’s tax haven status allows foreign investors to financially benefit from setting up a company in Coburn Town or any other town in the Turks and Caicos Islands. Companies registered here are not directly taxed. The financial benefits, combined with the convenient geographical location, make opening a firm in Turks and Caicos one of the top investment options in the region.
WHY REGISTER IN TURKS AND CAICOS:
- The company is fully exempted from taxes;
- The owners are provided with high confidentiality (the register of directors and shareholders is closed);
- There is the possibility to use nominal services;
- There are no requirements to submit reports;
- There is no currency control.
REGISTERING A COMPANY IN TUKS AND CAICOS:
- The company can conduct any activity permitted by law.
- Offshore company on the Turks and Caicos Islands shall have registered office and registration agent.
- The end of the company’s name should contain such word as Sociedad Anónima or such abbreviation as S.A.
- The authorized capital is not required to be paid. The amount shall equal to $ 5000.
- The company can issue bearer shares and shares without par value.
- The minimum number of shareholders of S.A. company is 1 person (natural or legal person).
- The minimum number of directors of S.A. company is 1 person (natural or legal person).
- Nominee directors and shareholders are allowed.
- Information about the owners of the company, as well as the shareholders can be disclosed only by the court decision.
- Meetings of shareholders / directors shall be held anywhere in the world.
- There are no requirements concerning place of storage of the company’s documents.
- There is no currency control on the islands.
- After submitting all the documents, the registration of offshore company on the Turks and Caicos Islands is completed upon the expiry of two weeks.
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