This group of islands is part of the British Overseas Territory and is dependent on the United Kingdom.
The official currency is the US dollar and its economy is mainly based on tourism, fishing, and non-taxed foreign investment.
You can then consider opening an offshore account in the Turks and Caicos Islands and enjoy all the tax benefits.
The tax system of the Turks and Caicos Islands
Its British dependency status makes the political and economic stability of this territory and you do not have to worry about opening your account.
You can even manage your account remotely because the infrastructures and the network on-site are of very good quality.
In the Turks and Caicos Islands, there is no central bank and there are no types of prohibitions on foreign currency banking.
This territory has not also signed treaties or agreements on tax information with other states.
There is no direct tax on income, capital profits, corporate dividends, property, inheritance, or inheritance.
Open an offshore account
The steps for opening an offshore account are not identical from one institution to another.
However, the principle remains the same: you must start by filing your file with the necessary documents, you have to wait for the banker to study your file to receive the contract, he will then send you this contract so that you can sign it for validating the opening of your offshore account.
To do this, you must prepare certain documents such as the legalized photocopy of an identity card, proof of address and proof of your income.
If you do not provide a complete file, the opening of your account may be refused.