General Overview. Turks and Caicos emerged as an offshore financial center in the beginning of the 80ies of the XX century. It has always offered an innovative and highly competitive business environment, which was an example for other offshore jurisdictions to follow. It now adheres to international requirements and standards of anti money-laundering and transparency.

Banking Sector. For conducting a banking activity in Turks and Caicos it is necessary to obtain a banking license there. It is possible to obtain either a National Banking License or an Overseas Banking License. There are no minimum capital requirements, but all licenses and banks are under continuous review of the authorities and must submit audited annual accounts.

Investment Funds. For types of investment funds may be established and managed in this offshore jurisdiction, including   registered mutual funds, recognized mutual funds, licensed mutual funds and exempt mutual funds. An offshore investment fund may take a form of a company, partnership or a unit trust.  Investment managers must obtain a license and adhere to minimum capital requirements.

Trust Management. Offshore trust management services are well developed and regulated in Turks and Caicos. Only those trustee companies which obtained a specific trustee license from authorities may provide trustee services. Unrestricted and restricted licenses are issued to trustee companies, depending on their projected business model.

Insurance Companies. Different types of insurance licenses are issued to companies which wish to provide domestic and offshore insurance services. Insurance sector is well regulated, but at the same time it is flexible, being able to meet requirements of large international insurance corporate bodies and smaller companies. Operation costs are rather low. It is convenient to establish and manage a captive insurance company in Turks and Caicos.

Shipping Registry. Different types of vessels may be registered or transferred to Turks and Caicos from other jurisdictions. A restriction on tonnage may be imposed.