Dempsey & Company, Attorneys at Law, Turks & Caicos Islands

Turks and Caicos Attorneys - Dempsey & Company

BUSINESS LICENSING

Businesses operating in the Islands are required to hold business licenses.  Businesses engaging in activities in two or more categories must now pay for each license in full.  Before taking steps to start up a business in TCI it is imperative that individuals are fully aware of the applicable Business Licensing laws and regulations - there are significant penalties imposed on individuals who become involved in businesses in TCI which are not properly licensed.  We recommend in each case that professional advice is sought at the outset to avoid the pitfalls.

The grant of Business Licenses for certain types of businesses are restricted to undertakings which have a majority Belonger interest - (e.g. restaurant operations, real estate agency and retail sales) however, non-Belonger businesses may obtain licenses in reserved categories where it is established that there will be a substantial benefit to the community as a result.

Dempsey & Company are experienced in this area of the law and can assist with all manner of Business Licensing applications, structuring of joint ventures with Belongers, and so forth.  In the event that you require assistance in this respect, contact us to arrange a consultation.

Licensing fees vary depending upon the business category – e.g. a license to farm is free: a license to operate a hotel of more than 99 rooms costs US$10,000.  The categories of businesses and related fees are set out below:

BUSINESS LICENSING FEES 

 

Type of Business

Fee in US$

Accountancy, etc.

4,000

Accountancy -other

500

Agency, etc.

500

Agriculture, Farming, etc.

0

Apartment/Condo sales, rental up to 4 units

0

Apartment/Condo sales, rental up to 9 units

500

Architecture - Professional

4,000

Architecture - other

500

Attorney, etc.

4,000

Auctioneer

1,000

Bakery Operation

300

Boatyard

2000

Broker

3,000

Building Material Manufacture

500

Bulk Fuel Installation

3,000

Company Formation/Corporate Services

2,000

Computer Sales and Services

1,000

Contractor - Large

6,000

Contractor - Medium Contractor -

3,000

Contractor - Small

400

Contractor - Petty

150

Dance Hall, Discotheque

1,000

Dental Services

750

Engineering & Engineering Consultant

4,000

Heavy Equipment Sales & Rentals

1,000

Importer other than Liquor 2,000
Landscaping 500
Marina 2,000
Medical Practitioners 2,000
Miscellaneous Business 150
Motor Vehicle Rentals 1,000
Operation of Golf Courses 6,000
Printing 150
Property Development 4,000
Provision of Financial Services 2,000
Provision of Hotel Accommodation - 5 - 19 rooms

500

Provision of Hotel Accommodation - 20 - 99 rooms 2,000

Provision of Hotel Accommodation - > 99 rooms

10,000

Provision of Tourist Accommodation - other than hotel

150

Provision of Sanitation Services

500
Provision of Tourism Services 500
Publishing 500
Radio & Television Broadcasting 1,000
Real Estate Agent 2500
Restaurant & Cafe, Designated 350
Restaurant & Cafe, Other 150
Retail Sales less than 500 sq. ft. 150
Retail Sales 500 to 1,000 sq. ft. 500
Retail Sales 1,000 to 2,000 sq. ft. 1,000
Retail Sales more than 2,000 sq. ft. 1,500
Service Station, Garage operation 750
Surveying - Professional 4,000
Surveying - Technical 500
Transportation - Land (per vehicle) 150
Transportation - Sea (per vessel) 150
Transportation - Air (per aircraft) 500
Trucking - Small 0
Trucking - Medium 500
Trucking - Large 1,000
Vessels for hire, 30 ft. or more 1,000
Vessels, other 300
Water Sale - By pipe 4,000
Water Sale - Other

500

Wholesale Liquor Importer

2000
 

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Telephone: (649) 946-4344
Telefax: (649)-946-4564
 

Carrying on business in association with the
Finbar F. Dempsey & Company Group:

Corporation Services Limited
Finbar F. Dempsey & Company
 

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Contact

Tel: (649) 946-4344
Fax: (649) 946 4564

1 Caribbean Place, P.O. Box 97,
Leeward Highway, Providenciales,
Turks & Caicos Isl

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Related Topics



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Classification of Goods & Services in TCI