Promote:
Invest in the Turks and Caicos Islands
A short guide for companies expanding into the Turks and Caicos Islands: the economy at a glance, the rules and steps to set up, and who can help, each with its source.
1. Turks and Caicos Islands at a glance
PopulationEstimate
46,855
The World Bank reports a population of 46,855 in 2025.
Source: World Bank WDI, population, 2025 (opens in a new tab) · as of 2025
GDP
US$1.75 billion
The World Bank reports GDP of US$1,745,378,000 in 2024, in current dollars.
Source: World Bank WDI, GDP in current dollars, 2024 (opens in a new tab) · as of 2024
GDP per person
US$37,507
The World Bank reports GDP per person of US$37,506.78 in 2024, in current dollars.
Source: World Bank WDI, GDP per person, 2024 (opens in a new tab) · as of 2024
Real GDP growth
5.6%
The World Bank reports real GDP growth of 5.6 percent in 2024.
Source: World Bank WDI, real GDP growth, 2024 (opens in a new tab) · as of 2024
InflationEstimate
3.0%
The Statistics Authority reports inflation of 3.0 percent for 2024, its latest annual figure not labeled a projection; no monthly twelve-month rate is published.
Source: Turks and Caicos Statistics Authority, inflation rate 2005-2025 (opens in a new tab) · as of 2024
Foreign direct investment inflows
US$42.1 million
The territory received US$42.058 million of inward foreign direct investment in 2025, UNCTADstat reports.
Source: UNCTADstat, FDI flows, Turks and Caicos Islands, 2025 (opens in a new tab) · as of 2025
The currency is the United States dollar.
Source: Invest TCI, National Investment Policy 2023 (opens in a new tab) · as of 2023
2. Before you set up
The investment agency, any one-stop route, the sectors reserved for nationals and the zones, as the guide found them.
Invest Turks and Caicos is the territory's official investment promotion agency, launched in December 2015 as a statutory body.
Source: Turks and Caicos Ministry of Finance, Invest TCI page (opens in a new tab) · as of November 1, 2026
Invest TCI operates as a one-stop shop that informs investors on incentives and guides projects through the regulatory system, the National Investment Policy 2023 says.
Source: Invest TCI, National Investment Policy 2023 (opens in a new tab) · as of 2023
As of November 1, 2026, Schedule 3 of the Business Licensing Regulations reserves 90 business activities for Turks and Caicos Islanders and lists 18 as restricted, the Revenue Department says.
Source: Turks and Caicos Revenue Department, business license page (opens in a new tab) · as of November 1, 2026
The National Investment Policy 2023 names an economic-zone incentive category but no zone, and no official list or count of zones was found.
Source: Invest TCI, National Investment Policy 2023 (opens in a new tab) · as of 2023
3. Steps to set up
The main steps, in order, each with the body responsible and its official page.
Setting up in the Turks and Caicos Islands
- Incorporate a company, or register a foreign company, at the Companies Registry.Turks and Caicos Islands Financial Services CommissionIncorporation can take three days; fees US$150 to US$350Official page (opens in a new tab)
Source: Invest TCI, starting a business in Turks and Caicos (opens in a new tab) · as of November 1, 2026
- Apply for a business license, checking first whether your activity is reserved or restricted.Inland Revenue DepartmentApplications can take up to two weeksOfficial page (opens in a new tab)
Source: Turks and Caicos Department of Trade, portal, starting a business (opens in a new tab) · as of November 1, 2026
- Ask Invest TCI about incentives, and apply for a development order if your project qualifies.Invest Turks and CaicosOfficial page (opens in a new tab)
Source: Invest TCI, National Investment Policy 2023 (opens in a new tab) · as of 2023
- Apply for a sector license where needed, such as banking, insurance or company management.Turks and Caicos Islands Financial Services CommissionOfficial page (opens in a new tab)
Source: Turks and Caicos Financial Services Commission, home page, October 2026 (opens in a new tab) · as of October 29, 2026
Show 3 more set-up steps
- Have your employer apply for work permits, or ask Invest TCI about the investment category of permit.Turks and Caicos Islands Border ForceWork permit fees US$200 to US$10,000Official page (opens in a new tab)
Source: Invest TCI, work permits, where and how (opens in a new tab) · as of November 1, 2026
- Buy or lease land: private land is freehold, and Crown land is leased only where private land is not available.Crown Land UnitOne-time stamp duty; no annual property taxOfficial page (opens in a new tab)
Source: Invest TCI, National Investment Policy 2023 (opens in a new tab) · as of 2023
- Open a bank account with one of the licensed commercial banks.Turks and Caicos Islands Financial Services CommissionOfficial page (opens in a new tab)
Source: Invest TCI, banking, food and education page (opens in a new tab) · as of November 1, 2026
4. Organizations that help investors
Start with Invest TCI and Border Force. Each card links to the organization’s own site.
Each card says what it can help with:Get adviceFind financeMeet requirementsResearch markets
- The Turks and Caicos Islands has 46,855 residents, so this guide lists every national body found with evidence dated 2025 or later; it has 8 organizations. Source (opens in a new tab)
Investment and business setup
- Get advice
Investment promotion agency
Invest TCI
Invest Turks and Caicos
Advises investors on incentives, permits and departments, and runs a small business grant program for locally owned businesses.
Visit Invest TCI (opens in a new tab)Source: Invest TCI, about the agency (opens in a new tab) · as of November 1, 2026
Government ministry
Finance Ministry
Ministry of Finance, Economic Development, Investment, and Trade
Publishes business license application and renewal forms, and oversees the Revenue Department, the Department of Trade, the Statistics Authority and Invest TCI.
Visit Finance Ministry (opens in a new tab)Source: Turks and Caicos Ministry of Finance, home page (opens in a new tab) · as of November 1, 2026
Customs and tax
- Meet requirements
Customs and border authority
Border Force
Turks and Caicos Islands Border Force
Handles customs declarations, import and export licenses, and work and visitor permits at the border.
Visit Border Force (opens in a new tab)Source: Turks and Caicos Border Force, exporting goods, March 2024 (opens in a new tab) · as of March 25, 2024
- Meet requirements
Tax and licensing authority
Revenue Department
Inland Revenue Department
Issues and renews business licenses and collects the territory's taxes and fees.
Visit Revenue Department (opens in a new tab)Source: Turks and Caicos Revenue Department, business license page (opens in a new tab) · as of November 1, 2026
Chambers and industry associations
- Get advice
Hotel and tourism association
TCHTA
Turks & Caicos Hotel and Tourism Association
Speaks for hotels, restaurants, excursion operators, banks, law firms and other member businesses.
Visit TCHTA (opens in a new tab)Source: TCHTA, home page (opens in a new tab) · as of November 1, 2026
5. Worth knowing
Steel and United Kingdom duty
Since July 1, 2026, listed steel products from the Overseas Territories pay the United Kingdom standard duty instead of zero.
What to do: Check your commodity code against the excepted goods table before you quote.
Sources: United Kingdom, tariff amendment regulations 2026, regulation 3 (opens in a new tab); United Kingdom, tariff amendment regulations 2026, commencement (opens in a new tab) · as of November 1, 2026
Customs audits
Since August 5, 2026, the Collector of Customs may audit importers and exporters for five years after a shipment.
What to do: Keep your shipping records for five years.
Source: Turks and Caicos, Customs (Amendment) Act 2026, gazetted 2026-08-05 (opens in a new tab) · as of November 1, 2026
Reserved sectors
Ninety business activities are reserved for Turks and Caicos Islanders and 18 are restricted; a 2026 Act sets four ownership categories from a date the Governor appoints.
What to do: Check your activity's category with the Revenue Department before you structure ownership.
Sources: Turks and Caicos Revenue Department, business license page (opens in a new tab); Turks and Caicos, Business Licensing (Amendment) Act 2026, gazetted 2026-01-16 (opens in a new tab) · as of November 1, 2026
Investor permit checks
Invest TCI's 2022 amendment Act began on June 30, 2026, and Act 11 of 2026 validates its due diligence for investment-category permits.
What to do: Ask Invest TCI how due diligence applies to your investor permit before you apply.
Sources: Turks and Caicos, Invest TCI Agency amendment, commencement notice, 2026-06-29 (opens in a new tab); Turks and Caicos, Invest TCI Agency (Validation) Act 2026 (opens in a new tab) · as of November 1, 2026
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Currency and settlement
The territory uses the United States dollar and levies no personal, corporate or property taxes, the National Investment Policy says.
What to do: Confirm the tax treatment in your home country before you invoice.
Source: Invest TCI, National Investment Policy 2023 (opens in a new tab) · as of November 1, 2026
Incentives differ by island
Import duty concessions reach up to 50 percent in Providenciales and West Caicos and up to 100 percent on the other islands, under the 2023 policy.
What to do: Ask Invest TCI which concession applies on your project's island.
Source: Invest TCI, National Investment Policy 2023 (opens in a new tab) · as of November 1, 2026
Contractor license moratorium
Until April 30, 2027, no new contractor-category business licenses are issued where a non-Turks and Caicos Islander has ownership or involvement, pending construction contractor legislation.
What to do: Check with the Ministry of Finance whether your activity falls in an affected contractor category before you apply.
Source: Turks and Caicos Finance Ministry, contractor license moratorium, October 2026 (opens in a new tab) · as of November 1, 2026
6. How Promote:Global helps
- Compare the Turks and Caicos Islands with other countriesSet the Turks and Caicos Islands beside other countries on investment momentum, fundamentals and trade access, before site, tax and legal work.
- Find advisors and service firmsAsk an advisory firm a scoped, paid question, or browse firms that list their own services, from legal work to logistics.
- Organize your next stepsKeep each product and market in a project, with a roadmap of steps you work through.
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Promote:Turks and Caicos Islands is an independent guide by Promote:Global, not an official government portal. The organizations named here are independent public and membership bodies, not Promote:Global partners, and every link goes to their own site.
Facts read from public sources, with an editorial cut-off of November 1, 2026. Nothing here is investment, legal, tax or sanctions advice. Check current status with the organization before you rely on it.