Turks & Caicos Islands
TC: 7 company types, its taxes, banking and business environment.
Forming a company
Company types in Turks & Caicos Islands
The 7 forms a founder can choose here, each with its own figures. Open one for its sources.
Doing business here
Business accounts
Providers whose own published list of countries names TC. A listing means a company formed here may apply, not that it will be accepted.
Not in our records No provider's country list has been read for TC.
EU listings
Two lists a bank checks when it opens an account for a company or its owner.
- EU high-risk third countries (AML)
- Not listed
- EU non-cooperative jurisdictions for tax purposes
- Not listedOfficial EUR-Lex, 52026XG01465, Annex I as of 2026-02-17
Official sites
The authorities’ own sites for Turks & Caicos Islands: where to register, file and check.
Blocs and agreements
The trade arrangements TC belongs to, as each arrangement’s own texts state them: since when, and what each covers. What a membership means for a business is for you to judge.
Turks & Caicos Islands’s own position
- Customs territory
- Its own (Turks and Caicos Islands)
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“Islands” means the Turks and Caicos Islands and includes the territorial sea of the Islands;
- VAT territory
- None levied
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands.
- EU–UK Trade and Cooperation Agreement
- Outside
The Turks and Caicos Islands are named among the overseas territories to which the EU-UK Trade and Cooperation Agreement does not apply (art. 774(4)).
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This Agreement does not apply to the overseas territories having special relations with the United Kingdom: Anguilla; Bermuda; British Antarctic Territory; British Indian Ocean Territory; British Virgin Islands; Cayman Islands; Falkland Islands; Montserrat;
- Agreements in force
- The authority’s own list read 27 Oct 2026
Regional and customs arrangements only, 36 of them; bilateral trade agreements are not yet in our records.
Tax
Company tax
Tax, and what the company owes the registry each year.
- Corporate income tax
- 0%
- Distributions
- Not in our records
- Audit
- Not in our records
- Small-company relief
- Not in our records
- Annual obligations
- Not in our records
- Annual registry fee
- 350 (currency not stated by the source)Official The registry or ministry page as of 2026-10-15
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The annual fee payable by a company is as follows
VAT
The tax on what the company sells in TC, and when it must register, as the tax authority states it.
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for TC.
Tax calendar
When the main returns and payments fall due in TC, tax year 2026, as the tax authority states it.
- Corporate tax return
- Not levied here
No corporate income tax exists in the Turks and Caicos Islands; the Revenue Department's statement of the tax system lists only sales-type taxes and business licensing.
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands.
- Corporate tax, final payment
- Not levied here
No corporate income tax exists, so there is no balancing payment of corporate tax.
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands.
- Corporate tax, instalments
- Not levied here
No corporate income tax exists, so there are no advance or instalment payments of corporate tax.
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands.
- Personal income-tax return
- Not levied here
No personal income tax exists in the Turks and Caicos Islands; the Revenue Department administers sales-type taxes and business licensing, not an income-tax return for residents.
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands. These taxes are imposed on various sectors such as tourism, financial and telecommunication
- Personal income tax, final payment
- Not levied here
No personal income tax exists, so there is no balancing payment of individual income tax.
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands.
- Personal income tax, instalments
- Not levied here
No personal income tax exists, so there are no payments on account or advance payments of individual income tax.
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands.
- VAT return
- Not levied here
No VAT or GST exists. The consumption-type taxes are sector sales taxes — hotel and tourism tax, communications tax, domestic financial services sales tax, insurance premium sales tax, vehicle-hire stamp duty — each with its own remittance; there is no standard periodic VAT/GST return.
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands. These taxes are imposed on various sectors such as tourism, financial and telecommunication
- Payroll withholding
- Not levied here
There is no income tax to withhold from salaries: no PAYE or payroll income-tax remittance exists. Employers' statutory remittances are National Insurance contributions, a social-insurance scheme, not a tax on income.
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There are currently five (5) sales-type taxes in the tax system of the Turks and Caicos Islands.
Running the company
Running a company here
Not in our records The authorities’ pages on running a company have not been read for TC yet.
Economy and trade
What it exports
Goods TC exported, by product, as a share of its goods exports each year. Exports include goods passing through for re-export. A share describes TC’s own trade; it does not compare places.
| Product (HS heading) | 2022 | 2023 | 2024 | Value, 2024 |
|---|---|---|---|---|
| Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations; waste oils HS 2710 | 0.54% | under 0.05% | 21.4% | US$5 m |
| Carbonates; peroxocarbonates (percarbonates); commercial ammonium carbonate containing ammonium carbamate HS 2836 | under 0.05% | 9.4% | 19.4% | US$5 m |
| Polyacetals, other polyethers and epoxide resins, in primary forms; polycarbonates, alkyd resins, polyallyl esters and other polyesters, in primary forms HS 3907 | 2.5% | 17.9% | 12.7% | US$3 m |
| Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; smoked crustaceans, whether in shell or not, whether or not cooked before or during the smoking process; crustaceans, in shell, cooked by steaming or by boiling in water, whether or not chilled, frozen, dried, salted or in brine HS 0306 | 15.0% | 6.7% | 7.6% | US$2 m |
| Centrifuges, including centrifugal dryers; filtering or purifying machinery and apparatus, for liquids or gases HS 8421 | 0.20% | 0.85% | 6.4% | US$2 m |
| Molluscs, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; smoked molluscs, whether in shell or not, whether or not cooked before or during the smoking process HS 0307 | 22.9% | 7.6% | 5.9% | US$1 m |
| Petroleum gases and other gaseous hydrocarbons HS 2711 | under 0.05% | 0.40% | 2.1% | US$1 m |
| Video game consoles and machines, table or parlour games, including pintables, billiards, special tables for casino games and automatic bowling equipment, amusement machines operated by coins, banknotes, bank cards, tokens or by any other means of payment HS 9504 | under 0.05% | under 0.05% | 1.9% | US$0 m |
| Machines and mechanical appliances having individual functions, not specified or included elsewhere in this chapter HS 8479 | under 0.05% | 0.42% | 1.3% | US$0 m |
| Ferrous waste and scrap; remelting scrap ingots of iron or steel HS 7204 | 3.9% | 0.49% | 1.3% | US$0 m |
Total goods exports, 2024: US$25 m. The ten largest headings are shown.