Turks and Caicos IslandsTax
The Turks & Caicos Islands, a British Crown Colony lie between the Bahamian islands and Hispaniola (Haiti & Dominican Republic).
Due to a lack of employment opportunities during the 1960's and 1970's, many TCI citizens emigrated to the Bahamas and the US. Fortunately, due to the growth in tourism and offshore financial services, many "Belongers" are now returning. Much of the unskilled labour in TCI is provided by immigrants from Haiti and the Dominican Republic just 100 miles to the south.
The TCI offshore financial industry which currently accounts for about 15% of the country's $90 million economy, began with the introduction of the Companies Ordinance, 1981 and falls under the supervision of the Financial Services Commission, with the resident British Governor having the ultimate authority. In 1995 this role earned the Commission an estimated revenue of $3 million.
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