Starting a business in
🇹🇨Turks and Caicos Islands
Checked November 4, 2026 · How we score
Corporate tax
0%
Top income tax
0%
Setup from
$2,000
all-in, first year
Time to form
5 days
can be done remotely
Taxes in Turks & Caicos
| Corporate income tax | 0% No corporate income tax. Companies pay annual licence and registration fees. A 15% minimum tax is under implementation for in-scope MNE groups. The EU listing concerns economic substance enforcement and tax transparency, and the territory disputes the characterisation. |
|---|---|
| Personal income tax (top) | 0% No personal income tax, capital gains tax or inheritance tax. Government revenue comes from import duties (about 30%), accommodation tax, a 10% government tax on restaurants and stamp duty on property (up to 10%). |
| Tax system | No personal income tax |
| Capital gains tax | 0% |
| Dividend withholding (non-residents) | 0% |
| VAT / GST | None |
| Social security | No VAT or general sales tax. Hotel accommodation tax and restaurant/service charges apply to tourism spending. National Insurance contributions apply to local employees. |
| EU tax blacklist | Listed as non-cooperative |
Forming a company in Turks & Caicos
| Usual entity | Exempted Company or Ordinary Company |
|---|---|
| Minimum capital | None |
| Setup cost (all-in) | $2,000–$5,000 |
| Annual running cost | $1,500–$4,000 |
| Time to incorporate | 5 days |
| Form remotely as a foreigner | Yes |
| Local director required | No |
| Local address required | Yes |
| Owners on public register | No |
| Statutory audit for small companies | No |
| Business banking for non-residents | Very hard |
Residency and visas
Residency by investment is available through property purchases (permanent residence certificates require roughly US$300,000+ in approved property or business investment, depending on the island) and work permits for employees. There is no digital nomad visa, though a Turks and Caicos remote-working scheme has been discussed. Verify thresholds with the Immigration Department.
| Digital nomad visa | No |
|---|---|
| Golden visa | Yes, from $300k |
| Ease of residency for founders | 4/5 (1 = easiest) |
Special tax regimes
Residency by investment
Permanent residence certificates are granted for approved real estate or business investments above set thresholds, with no minimum stay requirement for certain categories.
Exempted companies
Non-resident companies can be formed with private registers and zero direct taxation, subject to economic substance rules and beneficial ownership reporting.
Pros and cons
Why founders pick Turks & Caicos
- No income, corporate, capital gains or inheritance tax
- USD currency and proximity to the US and Bahamas
- English common law
- Residency available through property investment
Watch out for
- On the EU blacklist (Annex I) since February 2026
- Very difficult for newly formed companies to access banks and payment processors
- High cost of living, import duties and stamp duty on property
- Banks and counterparties may refuse to deal with TCI-registered entities
Best for: Property investors who want zero income tax and a US-adjacent base · Individuals who plan to live in Turks and Caicos full time · Not recommended for new companies needing mainstream banking
Turks & Caicos: common questions
Is Turks and Caicos on the EU tax blacklist?
Yes. The EU Council added the Turks and Caicos Islands to Annex I (the blacklist of non-cooperative jurisdictions) on 17 February 2026, citing concerns about enforcement of economic substance requirements, and the October 2026 update left it there. The listing can lead to defensive measures by EU member states and enhanced due diligence from banks.
Does Turks and Caicos have income tax?
No. There is no personal income tax, corporate income tax, capital gains tax or inheritance tax. The government earns revenue from import duties, accommodation and restaurant taxes, stamp duty and fees.
Should I register a company in Turks and Caicos?
Generally not for a new online business. The EU blacklist listing, limited banking options and low reputation make payment processing and banking difficult. Jurisdictions such as the US (LLC), UAE or Bahamas are more practical.
Can I get residency in Turks and Caicos?
Yes, through investment in approved property or business, or through work permits. Investment thresholds are around US$300,000 and above, depending on the island; confirm current thresholds with the TCI Immigration Department.
What does EU blacklisting mean for a company?
EU member states may apply defensive measures such as withholding taxes, denied deductions or enhanced reporting on payments to blacklisted jurisdictions, and EU funds are restricted. Banks and platforms may refuse onboarding or apply enhanced due diligence.
Sources
- Council of the EU: list of non-cooperative jurisdictions
- Turks and Caicos Islands Government
- Turks and Caicos Islands Financial Services Commission
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Not tax or legal advice. Rates and rules change; we check official sources and update every page, but verify with a licensed adviser in the country before acting. Spotted something out of date? Use the correction form below.