Turks & Caicos

No. Hart David Carson does not maintain a Turks and Caicos office and is not admitted to practice there. We act as coordinator, assembling a facilitation and partner network of TCI licensed company managers, trustees, banks and real-estate counsel, and we work alongside locally admitted attorneys who render all local legal advice, opinions and statutory filings.

Usually an exempted company. The Companies Ordinance also provides ordinary and limited life companies and limited partnerships, but the exempted company is the standard holding vehicle because it carries confidentiality and tax-exemption undertakings, and for succession it is often placed under a trust. Practically, the licensed company manager who must handle every incorporation is also the one who clears due diligence, so the typically prompt timeline depends on a complete beneficial-ownership and source-of-funds file at the outset.

It is not taxed on what it earns. Turks and Caicos has no income or capital gains tax and no corporate or inheritance tax; government revenue comes from stamp duty, customs and fees. What does cost is stamp duty on a real-estate transfer, a material part of acquisition cost, so it is priced in before contracts are signed. The entity still reports: CRS and FATCA apply, and a relevant activity brings economic-substance requirements, which TCI-admitted advisers scope at the outset.

Banking is provided by branches of regional and international banks operating in the US-dollar environment, subject to standard enhanced due diligence and source-of-funds review. Account opening is generally more accessible where there is a genuine local nexus, such as property ownership, and a clear commercial rationale with transparent beneficial ownership materially improves outcomes. We can introduce banks within our network, but onboarding decisions rest with the institution.

The Turks and Caicos Islands Financial Services Commission (TCIFSC) supervises company management, trust and insurance business and administers AML/CFT obligations and the territory's economic-substance and beneficial-ownership regimes. Licensed company managers act as the regulated gatekeepers for formations, and the Supreme Court hears commercial and property disputes. Matters before the TCIFSC and conveyancing are handled by locally admitted counsel.

We scope the structure against your commercial objectives, instruct a licensed company manager, and coordinate conveyancing, trust formation, and banking steps through TCI-admitted counsel who provide all local legal advice and filings. We project-manage the workstreams and act as your one point of contact across Chicago, London, and Dubai, while the regulated local professionals carry the on-island execution and advice.