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The description of corporate structures and prices quoted below is serving as a general guide and may be subject to the most recent changes of the legislation in various jurisdictions. We invite you to contact us for the latest update and free quotation.

COUNTRY: Turks and Caicos

Turks & Caicos Offshore Company Legal form: The Turks and Caicos Islands emergence as a major corporate domicile dates from the enactment of the Companies Ordinance 1981. The legislation was regarded as highly innovative and has been duplicated by other jurisdictions. The Ordinance continues to be amended to meet the changing demands of the international business community.  Currently there are five types of companies which can be incorporated under the Ordinance, namely the Ordinary company, the Exempt company (also known as the International Business Company), the Foreign Company, the Limited Life company, and the Hybrid company. All the companies can be limited by share or guarantee. Name of the company: The name of Turks & Caicos company must not be identical or confusingly similar to the existing ones. The name can be written by using Cyrillic or Latin alphabet. Using words Limited or Ltd are not required in the name of the company. The name can contain words Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Gesellschaft mit beschankter Haftung or abbreviations Corp., Inc., GmbH, SA, AG.  Words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust Company, Trustee Company or other words with the same meaning cannot be used in the name of the company. All names of companies require the prior approval of the Financial Services Commission to ensure that no name gives the impression of providing a public financial service without due licensing. Memorandum and Articles of Association: A company is incorporated in Turks & Caicos by application made to the Registrar of Companies. Memorandum and Articles of Association must be lodged with the Registrar. Memorandum specifies the activities in which the company may engage and Articles of Association specify the rules governing the internal management of the company. In order to obtain tax exempt status the subscribers must at the time of incorporation lodge at the Companies Registry a signed declaration stating that the business of the company will be mainly carried on outside the Turks and Caicos Islands. An existing overseas company may transfer its domicile to the Turks and Caicos Islands where the laws of the overseas country do not prohibit such a transfer. A Turks and Caicos company can transfer its domicile to an overseas country where the overseas country laws allow for such a transfer. Once a company is redomiciled to the Islands it is deemed to have been incorporated there under the 1981 Companies Ordinance. Shareholders: A minimum of one shareholder is required which may be an individual or a body corporate. The details of company beneficial owners and shareholders are not part of the public records. The share capital: There is no specific minimum capital requirement. The standard authorized share capital is US$ 5,000. The minimum issued capital may be one share of no par value or one share of par value. Issued shares must be fully paid. Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights are permitted. Subject to certain solvency requirements the company may purchase or redeem its own shares. Directors of the company: Turks & Caicos exempt company requires a minimum of one director and corporate directors are permitted. Details of the directors do not appear on the public file. There is no requirement to have resident directors. Registered office and local agent/secretary: Turks & Caicos exempt companies must maintain a registered office and registered agent who may be corporate body or individual resident in Turks & Caicos. The company must keep its corporate seal at its registered office but need not maintain there any record of the shareholders, directors, secretary, mortgages or charges. Taxation: Turks & Caicos Islands  is a pure tax haven and has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax. Audit and financial returns: Whilst there is no requirement to file audited accounts or annual returns with the authorities, a company is required to keep financial records, which should reflect the financial position of a company. Meetings: The directors and the shareholders meetings need not be held in Turks & Caicos Islands,  also there is no requirement for an Annual General Meeting. All meetings may be held outside Turks & Caicos by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy. Time needed for formation: Usually it is 3 working days, but we need up to 10 working days for legalization of the documents and delivery by courier. In order to proceed with the formation of the Turks & Caicos  Exempt Company please visit our  how do I start  page and then proceed to  filling in our application form Our costs and fees for the formation of Turks & Caicos Exempt Company        Formation cost includes:   - Name check and approval   - Drafting and filing of Memorandum and Articles of Association   - One set of originals of all standard corporate documents with Apostille   - Payment of the government license fee   - Provision of registered address   - Provision of company secretary   - Courier fees   - Rubber stamp       Please contact us for  a free quotation, we shall respond immediately !   Optional services (to be chosen by the client) - Provision of nominee shareholder   - Provision of  nominee director   - Bank account opening in Turks & Caicos   - General Power of Attorney  with Apostille   - Apostille of one document   - Company seal   - Good Standing Certificate with Apostille     Recurring maintenance fees from 2nd year and after   - Provision of registered office   - Provision of company secretary/local agent   - Payment of  annual government license fee        Please contact us for  a free quotation, we shall respond immediately !     More information about Turks & Caicos Islands  is available on our web site.  Please visit our Jurisdictions Directory   to buy specific directory or  register with our  offshore and tax knowledge database   which can offer you access to more than 3,000 pages of downloadable reference information and more than 2,000 various laws and regulations currently enacted in more than 60 countries around the world. For DeltaQuest Corporate Services please contact: Telephone: +357-25-878480 Fax:+357-25-761160 E-mail: info@mydeltaquest.com Mailing address: P.O.Box 57216, Limassol 3313, Cyprus Business address: 14, Louki Akrita Str., Ayias Zonis, Limassol 3030, Cyprus You can also fill our contact form For DeltaQuest Legal Services please contact: Telephone: +357-25-363609 Fax:+357-25-343347 E-mail: legal@mydeltaquest.com Mailing address: P.O.Box 54279, Limassol 3722, Cyprus Business address: 210 Makarios Avenue, Second Floor, Limassol , Cyprus You can also fill our contact form