About Turks & Caicos

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The Turks and Caicos Islands are roughly 576 miles south east of Florida, with flights to and from the United States, London and Toronto and a burgeoning reputation as prime tourism location, as well as a competitive financial services center.

This is largely due to its accessibility, its status as an Overseas Territory of the United Kingdom (with a legal system based on English Common Law with local statutes called Ordinances), the absence of direct taxes on personal or corporate income, the use of the United States Dollar as the official currency and the absence of exchange control.

The link between finance and tourism has not gone unnoticed, and the Islands have enjoyed significant economic growth over the past 10 years. There are currently five banks, which offer a full range of banking and in some cases, investment services to the Islands' domestic and international clients.

Recognizing its contribution to tourism, the Government has played a significant role in the development of the financial sector, ensuring the availability of a wide range of product legislation from companies to trust, insurance and mutual funds and enforcing the adherence to the best international legal and financial practices.

Most recently the parliament has passed new laws dealing specifically with the proceeds of crime and anti-money laundering. The Financial Services Commission has been established to ensure that all persons working in the industry remain compliant with the current regulations.

The Islands are poised to continue its economic growth in the medium to long term.