Turks and Caicos: Types of Company
Ordinary Resident Company
Ordinary companies are generally used by those wishing to purchase real estate or otherwise carry on business within the Turks and Caicos Islands (in contrast to Exempt companies which are used by those wishing to carry on business outside the Islands). The company must include the word 'limited' in its name.
For public record purposes the Ordinary company must file an annual return with the names, addresses and occupations of shareholders, directors and corporate officers. An Ordinary company must also declare on an annual basis that there has been no change in its beneficial ownership.
An Ordinary company must conduct a shareholders general meeting at least once annually.
Fees on incorporation depend on the level of authorised capital:
- For capital up to US$50,000 the fee is US$300;
- For capital over US$50,000 and up to US$100,000 the fee is US$450;
- For capital over US$100,000 and up to US$750,000 the fee is US$550;
- For capital over US$750,000 and up to US$2m the fee is US$1,050;
- Capital over US$2m is charged at US$2,050.
The annual filing fee to accompany the annual return is US$300; these fees can be paid in advance at a discounted rate.