Beautiful by Nature
The Turks and Caicos Islands is a British Overseas Territory in the North Atlantic, made up of eight major islands and more than thirty smaller cays. Its shallow banks and exceptionally clear turquoise waters have made the archipelago one of the most sought-after destinations in the world.
General Information
Situated roughly 600 miles southeast of Miami, the territory is home to around 50,000 people, the majority on Providenciales the most populated of the islands, with approximately 30,000 residents.
Turks & Caicos History
Modern development in the Turks and Caicos Islands took off in the 1980s and late 1990s, driven by American, Canadian, and British investment in offshore banking, business, and tourism. This influx of international capital established Turks and Caicos as an official offshore jurisdiction — a status the territory has held since 1970, underpinned by political stability, British common law, and a tax-neutral environment that continues to attract global investors and homeowners alike.
General Information
Situated roughly 600 miles southeast of Miami, the territory is home to around 50,000 people, the majority on Providenciales the most populated of the islands, with approximately 30,000 residents.
Turks & Caicos History
Modern development in the Turks and Caicos Islands took off in the 1980s and late 1990s, driven by American, Canadian, and British investment in offshore banking, business, and tourism. This influx of international capital established Turks and Caicos as an official offshore jurisdiction — a status the territory has held since 1970, underpinned by political stability, British common law, and a tax-neutral environment that continues to attract global investors and homeowners alike.
Climate
The Turks and Caicos enjoys some of the best weather in the region. Its climate is dry, sunny and hot. Temperature varies seasonally, but you can generally expect the heat to range from 85° to 90°F (or 29° to 32°C). The persistent trade winds that blow from east to west year-round keep residents comfortable in the heat and make for great kiteboarding and windsurfing conditions.
While hurricanes aren’t all too common, they are a risk that locals prepare for annually. The Atlantic hurricane season runs from June 1st to November 30th each year. Historically, the islands have sustained relatively little damage compared to other Caribbean countries during storms thanks to their high bar for construction—developments must be built to withstand Category 5 damage.
Currency & Banking
The official currency of the islands is the US dollar. Historically, tourism and offshore banking have been the largest industries in the islands thanks to the Turks and Caicos’ reputation as a tax haven, with the government keen to grow the financial services sector in years to come. Turks and Caicos is home to several banks, but the largest are Scotiabank, Royal Bank of Canada, and the Turks and Caicos Banking Company. CIBC First Caribbean Bank and British Caribbean Bank also have a presence here.
Schooling
Education in the Turks and Caicos Islands follows the British school system. Providenciales is home to a handful of private primary schools—among them The International School in Leeward—and one private high school, British West Indies Collegiate. Class sizes here tend to be small to foster a better academic experience.
Language
Given that the islands are under British rule, English is the language of operation here. A growing Dominican and Haitian population means that Spanish and Creole are becoming more widely spoken.
Government & Economy
The Turks and Caicos Islands belongs to the Commonwealth. As such, it is a monarchy, and King Charles is its official head of state. Island affairs, however, are governed by a locally elected government helmed by a premier (sometimes called the chief minister) and cabinet ministers. Elections are held every four years.
The Turks and Caicos Islands economy is primarily based on hospitality and tourism.
Taxes
There is no income tax, capital gains tax, or property tax in Turks and Caicos.
