ARTICLE · 26 MARCH 1999

Banking And Trusteeship

Financial Services Commission

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Turks and Caicos IslandsWealth Management

Banking and the administration of trusts are essential ingredients of any well developed financial services industry. As a zero-tax domicile, free of exchange control, TCI is an attractive location for a variety of banking and trust activities.

A TCI bank may cater to the domestic market or serve its existing client base and develop new products and clients internationally.

A TCI trust company may provide a range of services including trusteeship, administration of estates, custody of corporations where the objective of the subsidiary is to undertake investment securities, portfolio management, company management and registrar and transfer agent facilities. A trustee licence is often the most appropriate and cost-effective alternative to a banking licence for many professional firms.

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