Bermuda Exempt CompanyTurks and Caicos Islands International Business Company (IBC) Company Formation

The Turks and Caicos Islands are a popular offshore jurisdiction because of the large number of privacy and tax advantages from which offshore companies incorporated there benefit. Incorporating an IBC in The Turks and Caicos Islands provides extensive confidentiality for the beneficial owners as company registers are not available for public inspection, and shareholders enjoy exemption from all local taxes and duties, including income tax, capital gains tax and corporation tax for a period of 20 years after the company’s incorporation.

Bermuda company formation nameCompany Name

Company names may be in any language and they must be unique but there is no requirement to end the company name with any suffix. Names must still be approved by the Registry; we are able to check your proposed company name complies with naming regulations in the Turks and Caicos Islands and a name can be reserved for a period of 10 days free of charge.

Bermuda company formation registered officeRegistered Office

All companies are required to have a registered office, which must be a physical address in the Turks and Caicos Islands where all official correspondence can be sent. This is also where accounting records, meeting minutes and other accounting and reporting company documents must be kept. We will provide a registered office as part of our Corporate Administration Package.

Bermuda Incorporation directorDirectors

Only a single director is required to incorporate, this may be a corporate entity or an individual; there are no restrictions on the nationality or residency of directors. There is no requirement to file director registers with the commercial registry meaning director details are kept confidential.

Bermuda company formation shareholderShareholders

Only one shareholder is required who may be of any nationality or residency. Corporate shareholders are permitted. There are no public shareholder registers.

Costa Rica Ultimate Beneficial OwnersCompany Secretary

All companies must appoint a company secretary, there are no restrictions on residency or nationality.

Bermuda company formation share capitalShare Capital

Normal structured share capital of USD $5,000, divided into 5,000 shares valued at USD$ 1 each. Share duty is paid on the amount of share capital and is increased once share capital exceedsUSD$ 5,000.

Bermuda company incorporation timescaleTimescale

Once all of the incorporation information has been received it takes only two days to incorporate an IBC in the Turks and Caicos.

Bermuda company formation feesTurks And Caicos Company Formation fees

Turks And Caicos IBC Company Formation – 5 days

  • Obtaining name clearance
  • Liaising with the local registrar and relevant authorities
  • Structuring the company as per your requirements
  • Prepare your Company Registration Forms
  • Drafting the Articles of Association / Statutes
  • File the documents with the Financial Services Commission
  • Appoint the Directors
  • Minutes appointing first Directors
  • Government Registration fee– US$150
  • Government License application fee– US$500
  • Preparation of the first minutes of Board Meeting
  • Certificate of Incorporation
  • Issue of shares and production of Share Certificates
  • All documents and certificates supplied in a professional folder
  • Delivery of documents by FedEx / DHL courier
Company Administration & Registered Office (required)£800
Resident Company Secretary£340
Annual Renewal Fees – Due January 1st
  • Registered Office and Registered Agent
  • Compliance with local domicile requirements
  • Payment of Government Fees (US$350)
  • Filing of annual return and notices as required
  • Maintaining statutory records
  • Statutory Due-Diligence
  • 12 months basic consultation
Company Secretary£340
Maintenance of Directors Register£175


Your company will be incorporated using your chosen name and we will ensure that the procedure is as simple as possible.

The whole incorporation process can be completed online and we will administer the preparation and filing of all registration forms on your behalf.

company formation filing requirementsFiling Requirements

There is no requirement to file annual financial statements, file an annual return or appoint a statutory auditor. Each company must only file a short statement indicating the main business activities that have taken place outside the islands and a declaration that the company is in compliance with the necessary statutory requirements.

Bermuda company incorporation proofProof of Identity

As part of our due diligence we require proof of identity in the form of a passport copy for all directors and shareholders of the company.

Bermuda Company formation travelTravel

It is not usually a requirement to visit Turks and Caicos in order to incorporate.

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