About Turks & Caicos Islands
Background: The islands were under Jamaican jurisdiction until 1962, when they assumed the status of a crown colony. The governor of The Bahamas oversaw affairs from 1965 to 1973. With Bahamian independence, the islands received a separate governor in 1973. Although independence was agreed upon for 1982, the policy was reversed and the islands are presently a British overseas territory.
Location: Caribbean, two island groups in the North Atlantic Ocean, southeast of The Bahamas.
Economy – overview: The Turks and Caicos economy is based on tourism, fishing, and offshore financial services. Most capital goods and food for domestic consumption are imported. The US was the leading source of tourists in 1996, accounting for more than half of the 87,000 visitors; tourist arrivals had risen to 93,000 by 1998. Major sources of government revenue include fees from offshore financial activities and customs receipts.
- Trustee Services
As is the case in Gibraltar it is a requirement that professional trustees be licensed and Sovereign Trust (TCI) Limited has one of only a limited number of professional trustee licenses issued. This is your assurance that we are fit and proper and have the necessary expertise and resources to establish and administer trusts in a wholly professional manner. Trusts have many applications and advantages, including the protection and preserving of assets, tax and estate planning or just avoiding the expense and delays of obtaining probate. They also provide a high degree of confidentiality.
- Turks & Caicos Islands Companies
We provide ready made or customised incorporation of all types of TCI companies and related services, including the provision of company secretarial, registered office and nominee shareholder services or full management services from our own in house professional directors. TCI exempt companies are free from all forms of taxation both in respect of its own operations and on the shares of the company for a period of 20 years from its date of incorporation. For full details of the types of company available visit our jurisdiction page.
- Temporary & Permanent Residence
Temporary residence permits are issued for periods of 1 to 3 years, which grant applicants the right to reside in the TCI with no minimum stay requirement in order to maintain residency. There are certain prerequisites and formalities that accompany a successful application and details are available upon request. Permanent residency is achieved by means of either a substantial investment within the Islands e.g. US$250,000 in Providenciales or US$125,000 in one of the surrounding Islands in a property or business or US$50,000 in a Government approved venture. Again further details are available upon request and we are able to assist in all areas of the application process.
- Wealth Management Services
Through our established relationships we provide financial services from trading accounts to discretionary portfolio management through the worlds’ most highly regarded money managers and all services in between. We provide access to all major international markets for both fixed income and equity securities and access to all major offshore mutual funds. Further details and a free consultation are available upon request.
The Turks & Caicos Islands are four hours behind Greenwich Mean Time (GMT).