On behalf of the NEFDA Board, we are excited to offer our first virtual conference. We are disappointed we are not able to see each other in person but are excited for this opportunity to offer great speakers, sponsors and CEUs. The three 2-hour sessions will provide insightful expertise for professional and personal growth.

A special thanks to Advanced Association Management, Kathi Schildt, Jennifer Eurek and their team, for the vision in creating this virtual conference. The entire Board is hoping you enjoy this inspiring virtual conference just for you!

Turks And Caicos Travel Information

The early registration deadline is August 7th, so register today!

THURSDAY, AUGUST 20, 2020
3:00 – 4:00 p.m.
NEFDA Annual Membership Meeting (1.0 Hour CEU)

The Association’s annual membership meeting provides not only an opportunity to elect the organization’s future leadership and conduct official business, but a chance to obtain important information that will make your membership investment more valuable and help your business. The meeting will provide a chance for both insight and input.

THURSDAY, OCTOBER 29, 2020
2:00 – 4:00 p.m.
Wally Hooker – “Difficult Case, Donor Cases and Autopsies” (2.0 Hours CEU)

This timely presentation will cover, jaundice, edema, donor bodies, emaciated, obese, overdose and autopsied cases. This session is designed for turning difficult cases into worry free open casket viewings. Time is spent on the pre-case analysis, to determine what plan of attack is required. Proper fluids, treatment, and procedures to create a normal peaceful appearance of the deceased. New products are demonstrated to make the life of the practicing embalmer easier and more effective.

Staffturks And Caicos Virtual Tour

The settlor may reserve significant listed powers for himself without affecting the validity of the trust and may also be a beneficiary. There may be protection from a subsequent bankruptcy after assets are gifted to the trust.

Trustee – Trustees are the legal owner of the assets who have a fiduciary and statutory obligation to act in the best interest of the beneficiaries.

The number of trustees of a trust shall be not less than two unless only one trustee was originally appointed or the sole trustee is a professional trustee, or the terms of the trust provide otherwise.

Trustees may be corporate bodies or individuals.

Custodian trustees are not permitted.

Beneficiaries – Beneficiaries are those who get benefit from the trust. Beneficiaries may be natural persons or body corporates.

The terms of a trust may provide for the addition or removal of a person as a beneficiary or the exclusion of a beneficiary from benefit either revocable or irrevocable, may impose an obligation on a beneficiary as a condition of benefit.

There are no specific provisions in the law to prevent beneficiaries from draining the trust of its assets and spending in a thrifty way. There are specific legislative provisions to avoid probate and forced heirship.

Enforcer – An enforcer is not mandatory, unless for purpose trusts.

Disclosure – The trustee is not required to disclose to any person any document showing he has exercised a power or discretion or performed a duty, nor to disclose to any person other than a beneficiary any document relating to or forming part of the accounts of the trust, unless required to do so by the terms of the trust or by an order of the court.

Protection from foreign judgments – The Trusts Ordinance includes limited provisions to ignore and not enforce foreign judgments. The Hague Convention on Trusts does not apply in Turks & Caicos.

Protection from creditors – The Trusts Ordinance does not repeal the Statute of Elizabeth, so transfers by the settlor to the trust may be set aside if the settlor transferred the property before the debt arose. The creditor must prove the fraudulent transfer of assets to the trust, which is clearly defined by the law. Creditors’ claims may not be brought jointly. If a fraudulent transfer is proven, the trust may not be declared invalid.

Protection for immigrant trusts – Trusts that migrate from other jurisdictions do not benefit from retroactive protection.

Community property – Community properties transferred to a Turks & Caicos trust may not retain its community property character.

Exclusion of foreign law - There are provisions in the legislation to be able to exclude foreign law.

Choice of law – The choice of law of Turks & Caicos to govern the trust or a particular aspect of that trust, is binding, valid, effective and conclusive regardless of any other circumstances.

Duration – There is no rule against perpetuities. An instrument creating or varying a trust may provide for the duration and date of termination of the trust.

Compliance – There are no annual reporting requirements.

Protection of Settlor

• Settlor as a beneficiary
• Bankruptcy protection

Protection from foreign judgements

• Ignore foreign judgements
• Hague convention on trusts
• Choice of law is binding
• Protection from immigrant trusts
• Community property provisions
• Custodian trustee permitted
• Rule against perpetuities (years)
• Limited Specific exclusion of foreign law
• Subject to CL rules Settlor can retain control

Protection of Beneficiary

• Avoidance of forced heirship
• Spendthrift provisions

Transfers

• Exclusion of Statute of Elizabeth laws
• Trust invalid if transfer fraudulent
• Creditor must prove fraudulent transfer
• Clear definition of fraudulent transfers
• Separation of creditor claims
• Statutory limitation on fraudulent transfer

Taxes

A trust established in the Turks & Caicos Islands may not be subject to local taxes applicable to the assets and income of the trust, provided that no residents of the Turks & Caicos Islands benefit from the trust and no physical assets are located there.

It must be noted that the choice of law of the trust would not be applicable to tax matters, which would be governed by the respective jurisdiction where the settlor, beneficiaries, assets or trustee are located, as applicable.

You should consult with your tax advisor or accountant to know the tax implications in your jurisdiction of residence when establishing a trust in the Turks & Caicos Islands, transfer assets to it and receive profits from said assets.

• Offshore Income Tax Exemption
• Offshore capital gains tax exemption
• Offshore dividends tax exemption
• CFC Rules
• Thin Capitalisation Rules
• Patent Box
• Tax Incentives & Credits
• Property Tax
• Wealth tax
• Estate inheritance tax
• Transfer tax
• Capital duties

• - Offshore Income Tax Rate
• - Corporate Tax Rate
• 0% Capital Gains Tax Rate
• 0% Dividends Withholding Tax Rate
• 0% Interests Withholding Tax Rate
• 0% Royalties Withholding Tax Rate
• 0 Losses carryback (years)
• 0 Losses carryforward (years)
• 6% Personal Income Tax Rate
• 0Tax Treaties

Country details

CurrencyUSD

Flights To Turks And Caicos

CapitalCockburn Town

Native Languagesen-TC

The Turks and Caicos Islands are a British overseas territory, consisting of the larger Caicos Islands and smaller Turks Islands, two groups of tropical islands in the Lucayan Archipelago of the Atlantic Ocean and northern West Indies. They are located north of the island of Hispaniola where Haiti and the Dominican Republic are located.

Cockburn Town, the capital, is about 1,042 kilometers (647 miles) to the southeast of Miami. The islands, with 948 sq. km of total surface area, are geographically contiguous to the Bahamas.

Its official language is English and its official currency is the United States Dollar (USD).

As a British territory, its sovereign is Queen Elizabeth II of the United Kingdom, represented by a governor appointed by the monarch, on the advice of the Foreign Office.

The Turks and Caicos economy, like other Caribbean islands, is based on tourism, offshore financial services, and fishing.

Services

We can help you incorporate a Trust in Turks and Caicos Islands.
Please, contact us to request a free, no obligation consultation.

Turks And Caicos Travel Portal

Disclaimer

Staffturks And Caicos Virtual Resort

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