Business Licensing fees in Turks & Caicos Islands

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:

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