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Turks & Caicos Islands
TURKS AND CAICOS ISLANDS OFFSHORE FINANCIAL ADVANTAGES
In The Turks and Caicos Islands there are no taxes whatsoever, Corporate or Personal, on Income, Profits, Capital or Capital Gains. Further, there are no Real Estate Taxes, Estate or Inheritance Taxes, Sales Taxes or Use Taxes.
Companies incorporated in The Turks and Caicos Islands enjoy the same tax free status as individuals regardless of nationality of ownership.
The Crown and the Government of The Turks and Caicos Islands have encouraged the use of these Islands as an offshore corporate base for over Ten (10) Years.
They have done this by the introduction of laws, the development of a financial sector and the negotiation of treaties with foreign governments, to prevent inquiries into monetary and tax related transactions.
In addition, since January 1982, the "exempt" category company has been utilized in the offshore financial center to a large degree.
FIFTEEN REASONS TURKS FLYER
- Why you should purchase in the Turks & Caicos islands
As a British Commonwealth Nation the Turks and Caicos Islands host a rapidly growing Off-Shore Financial Centre offering numerous advantages including but not limited to the following fifteen key features:
No Corporate Income Tax on revenue
No Personal Income Tax on revenue
No Income Tax on revenue generated from property
No Capital Gain Tax on property when sold
No Annual Real Estate Tax
No Estate/Inheritance Tax
The local currency is the US Dollar
The Crown guarantees Title therefore no title Insurance is necessary,
land registry provides details of ownership
Title can be personal or confidential
Permanent Residency Status can be obtained with a real estate investment of $250,000US
The Turks and Caicos Islands have one of the lowest crime rates in the Caribbean
The Planning and Development Department oversee very strict building codes
The British system ensures a strict legal and political environment
The Turks and Caicos Islands is one of the fastest growing tourist destinations with annual double digit property appreciation
Caicos Beach Club Resort and Marina have sort Twenty Five year exemption from any changes in Turks and Caicos tax system
SO WHY DIVERSITY OFFSHORE?
- Because it’s smart, it’s legal and its good business
USEFUL INFORMATION ON TURKS AND CAICOS ISLANDS
Language
English
Currency
The U.S. Dollar
Time Zone
Eastern Standard Time (7 hours behind UK time)
Electricity
110 volt/60 cycle, suitable for U.S. appliances.
People
Turks & Caicos Islanders are mostly descendants of Africans who were brought in to work the salt pans or the cotton plantations. The expatriate population consists of Canadians, Americans, French, Bahamians, people from Hispaniola and virtually everywhere in the world.
Economy
The economy of the TCI relies on the tourism industry, real estate development and the exportation of seafood. A wide variety of financial services are available, including company formation, offshore insurance, banking, trusts, limited partnerships and limited life companies. The Financial Services Commission regulates, develops and promotes the industry in major world markets.
Government
The Turks & Caicos Islands are a British Crown Colony. A Governor is appointed by the Queen and presides over an Executive Council formed by an elected local self-government. Government offices are located in Grand Turk, with branches on other Islands as needed. The legal system is based on English Common Law.
Courier Service
Daily delivery service is provided by FedEx, with offices on Provo and Grand Turk. Service is also provided by DHL and UPS.
Cable Television
Satellite television service is provided on Provo with 34 channels and on Grand Turk with 21 channels available.
Water
As on many Islands, our fresh water is precious, we depend upon rainfall or desalinated water produced by reverse osmosis for the supply. Please be conservative in using water.
Telephone Service
Local and international service is provided by Cable & Wireless. Telex, facsimile, internet and cellular phone services are provided. You may use your credit card or a debit PhoneCard at public phone booths.
Postal Service
Post Offices are located on Providenciales and Grand Turk. All mail is transported by air. There are many different issues and denominations of stamps for enthusiasts to collect. Philatelic Bureaus are located on both Provo and Grand Turk.
Crime
These Islands boast one of the lowest crime rates and highest crime-solved rates in the Caribbean. We cannot, however, let down the guard against opportunist-type theft. Do not leave valuables unattended. Lock doors and windows. Use the hotel safe for storage of valuables. These simple precautions should prevent the loss of cash, jewelry and identification. Confrontation and violent crimes are extremely rare. Any problems should be reported immediately to the police as well as any vehicular accidents.
TRAVEL TRIPS
Climate
Constant easterly breezes keep life comfortable, with the coolest months averaging in the 70s in the winter and the warmest months averaging in the low 90s in late summer. An average annual rainfall of 40 inches or less assures us plenty of sunny days. For additional information please go to our weather page.
Dress
Pack light! Cool, casual, comfortable resort and leisure wear is acceptable everywhere. Overexposure from the sun can happen quickly, sunscreen is a strongly recommended. A hat and cover-up for extra protection is advisable. Swim wear worn other than poolside or at the beach is frowned upon. It is a rare occasion to need a light sweater at night. Just a few restaurants require "proper attire".
Immigration and Entry
Visitors from North America may enter with a birth certificate and one photo ID card. All other visitors need a valid passport. An onward or return ticket is also required.
Customs Regulations
Visitors may bring in duty free for their own use one carton of cigarettes or cigars, one bottle of liquor and some perfume. The importation of firearms, controlled drugs and pornography is strictly forbidden.
Pets
There is no quarantine for visiting pets. A veterinary certificate stating good health and a current rabies vaccination is required. The Public Health Inspector will examine the animal upon arrival. Be certain that your accommodation accepts pets before arriving.
Tipping
There are no rules about tipping but it is customary to add 15% for good service. Some restaurants will add a 10% service charge to your bill, please check before automatically adding your tip. Your taxi is independently owned and operated by the driver. There is no rule about tipping taxis but it is generally given for personable service. Your driver can direct you to all the places and restaurants you will want to visit and an informative tour around the Islands is often offered.
Departure Tax
An airport tax of $30 is levied on persons 2 years of age and older upon departure.
MEDICAL SERVICES
Government hospitals are located on both Providenciales and Grand Turk. Providenciales has several private clinics offering UK trained doctor services, optometrists, chiropractic, dental services and a decompression chamber.
The most common travel ailments include sunburn, dehydration and insect bites. It is advisable to use a sunscreen at all times you are outdoors. Your fluid intake will need to be more water, Gatorade and juices than you are used to at home due to the sun and the wind. Insect bites can be prevented by closing your doors in the late afternoon and using a spray insect repellent.
We hope you don't have an emergency while you are here but if you do the clinics are capable of stabilizing most conditions and transferring the patient by air-ambulance jet to a hospital in Florida. The doctors will make house calls and hotel calls if requested even in the night for serious cases or pain cases.
Visitors would be well advised to check that their Insurance covers them for repatriation costs before they arrive.
Associated Medical Practices
Full Service General Practice, X-Ray, Ultra-Sound, Pharmacy, Optometry, Chiropractic, Mammography, CAT Scan, Decompression Chamber, ER Room, Ambulance
Dr Euan Menzies MBBS MRCP
Dr Steve Bourne OBE MBBS MRCGP
Dr Dawn O'Sullivan MBBS
649-946-4242 Fax 649-946-4942
Email scubadoc@hotmail.com
Web site http://www.doctor.tc
Dental Services Limited
Fast diagnosis and urgent pain relief
Dr Johann Pretorius BDS (Rand)
Dr Mark Osmond BDS LDS RCS
649-946-4321 Fax 649-946-5487
Email jopretorius@tciway.tc
Grace Bay Medical Center
Inter Island Medical Services
Extensive Family Care, Emergency Medical Care, Pharmacy
Dr Sam Slattery, MBBS
649-941-5252 Fax 649-946-8243
Email doc.s@tciway.tc
Island Pharmacy
649-946-4150 Fax 649-946-4942
Grace Bay Pharmacy
649-946-8242 Fax 649-946-8243
OmniCare Medical Clinic
Caring, Friendly & Confidential Service
Family Medicine, General Surgery, Obstetrics and Gynaecology
649-941-5050 Fax 649-941-5049
Email omnicare@tciway.tc
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