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Benefits of Making Business in Turks & Caicos Is | Buy & Sell Business

At MergersCorp we help our clients confidentially buy and sell privately held businesses, aligning the interests of all parties for mutual success and satisfaction.<br><br>Find more at: http://mergerscorp.com

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Benefits of Making Business in Turks & Caicos Is | Buy & Sell Business

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  1. BENEFITS OF MAKING BUSINESS IN TURKS & CAICOS IS WWW.MERGERSCORP.COM

  2. At MergersCorp M&A International we help our clients confidentially buy and sell privately held businesses, aligning the interests of all parties for mutual success and satisfaction. It is our goal to make the process of either buying a new business or selling your current business as smooth and efficient as possible. We know how important confidentiality is to our sellers and we treat it with the utmost importance. WWW.MERGERSCORP.COM

  3. BENEFITS OF MAKING BUSINESS IN TURKS & CAICOS IS WWW.MERGERSCORP.COM

  4. Country Overview The Turks and Caicos Islands are a British Overseas Territory located in the Caribbean Region south of The Bahamas, for which local government is led by a Premier under the oversight of a Governor appointed by the United Kingdom (UK). The capital and centre of government is located in Cockburn Town on the island of Grand Turk, but the majority of businesses and residents are located on the island of Providenciales. The economy is driven principally by tourism, mainly from the United States and Canada, being cruise ships arriving on the island of Grand Turk, and resorts on the other islands located mainly on Providenciales. The Turks and Caicos has six main inhabited islands: Providenciales, North and Middle Caicos, South Caicos, Grand Turk and Salt Cay. urks and Caicos has beautiful, clean beaches. The water is a magnificent turquoise with soft white sand. Grace Bay Beach in Providenciales is the most well-known beach and home to many of the most luxurious hotels. The terms of the Turks and Caicos Islands Constitution Order of 2011 provide for a governor, who is to represent the British monarch as head of state and bear responsibility for external affairs, internal security, defense, international financial services, and the appointment of public officers.

  5. Executive Summary The Turks and Caicos Islands are two groups of islands in the Caribbean Sea, near the Bahamas. The islands lie southeast of Mayaguana in the Bahamas island chain and north of the island of Hispaniola. Cockburn Town, the capital since 1766, is in the Grand Turk Island about 1,042 kilometres east-southeast of Miami, United States. The Turks and Caicos Islands is a British Overseas Territory, located in the Atlantic Ocean and considered a part of the Caribbean region. The current population of the Turks and Caicos Islands is 38,507 as of Friday, February 7, 2020, based on the latest United Nations estimates. The Turks And Caicos Islands population is equivalent to 0.0005% of the total world population. The Turks And Caicos Islands ranks number 215 in the list of countries by population. Comprising 40 distinct islands, Turks and Caicos share an intricate cultural legacy that combines influences of the native Taíno people with that of French and Spanish explorers as well as the descendants of African slaves brought to the Caribbean to work in the salt trade.

  6. Introduction – Doing business in Turks & Caicos Is The Turks and Caicos Islands has much to offer potential investors with its numerous diverse islands and a focus on sustainable development that is mindful of the country’s natural resources. The ideal investment and business climate is garnered in part by a stable fiscal position, skilled professional workforce, adequate infrastructure, a well-regulated and established financial services industry, proximity to key markets and the use of the US Dollar. There is much that the Turks and Caicos Islands offer potential investors. Tourist center is main area of business and invest for Turks & Caicos. Each island offers different experiences for visitors and a different set of opportunities for investors. Sustainable development, mindful of the natural resources, is the country’s philosophy yet the business opportunities are as endless as the many miles of beautiful beaches.

  7. Conducting business in Turks & Caicos Is The Turks and Caicos Islands imposes restrictions on operating businesses in order to protect the local population. This is primarily achieved via the Business Licensing scheme, which requires that many popular business categories be majority- owned by a Turks and Caicos Islander. Starting a business can be an equally exciting and daunting exercise. Here are a few of the first steps required to establish a business in the TCI. Getting your license is step two, and it is a necessary one in the Turks and Caicos for engaging in business activities. Depending on your type of business, you can probably plan on spending between $150 and $1500 for your license annual fees. There are 253 fee classifications and 15 categories of business activities currently. Reserved for Turks and Caicos Islander controlled businesses and Turks and Caicos Islanders are 90 classifications, 18 of which are restricted. The Turks and Caicos company has some incredible opportunities for those wishing to start a business in this lavish location.

  8. Taxation in Turks & Caicos Is ​​​A British Territory, the Turks and Caicos Islands compose a tax- free, offshore jurisdiction that is virtually crime free. Turks and Caicos has no annual property tax on the ownership of real estate, although real estate buyers do need to pay a one-time land transfer tax (stamp duty), which applies to anyone purchasing property. This is due at the time of closing. The exact tax rate varies, based on the price and location of the property. The government has assured that there are no plans to introduce an income tax, despite the emergence of a substantial revenue shortfall following the financial crisis. Instead, the interim government plans to plug the fiscal gap by introducing a value added tax (probably at 10%) from 2013. However, both major political parties votes in February 2013, to repeal the Value Added Tax Act.

  9. Trade exported $10.5M and imported $209M, resulting in a negative trade balance of $199M. The top exports of the Turks and Caicos Islands are Hard Liquor ($2.06M), Molluscs ($1.16M), Crustaceans ($977k), Air Conditioners ($614k) and Liquid Pumps ($504k), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($23.1M), Cars ($12.6M), Delivery Trucks ($7.22M), Poultry Meat ($4.76M) and Aluminium Structures ($4.55M). The top export destinations of the Turks and Caicos Islands are the United States ($3.15M), Spain ($2.15M), Sudan ($1.4M), Slovakia ($711k) and the Philippines ($527k). The top import origins are the United States ($169M), the Dominican Republic ($5.29M), Japan ($4.24M), the United Kingdom ($3.79M) and Switzerland ($3.32M). The Turks and Caicos Islands is the 210th largest export economy in the world. In 2017, the Turks and Caicos Islands

  10. Banking in Turks & Caicos Is The central branch of Scotia Bank in the Turks and Caicos is located on Leeward Highway. Bank on Providenciales. Several international banks have branches in the Turks and Caicos. There are branches for several international banks in the Turks and Caicos Islands, primarily on the main island of Providenciales. - Bordier Bank (TCI) Ltd Provides legal and offshore banking services. - British Caribbean Bank Limited Provides international personal and corporate banking services. - First Caribbean International Bank (Bahamas) Ltd Provides personal, corporate, international wealth management and investment services. - Scotiabank (Turks and Caicos) Limited General banking product and services. - Turks & Caicos Banking Company Limited Turks and Caicos Banking Company Limited was incorporated and obtained a Banking License in 1974 and commenced operations on 01st December 1980.

  11. Our M&A Process NEGOTIATION & CLOSE POST MERGER INTEGRATION (PMI) INTEGRATION (PMI) POST MERGER TARGET APPRAISAL APPROACH DUE DILIGENCE Key Areas  Target & market analysis;  Initial assessment of synergies & value drivers;  Indicative valuation;  Go or No-Go decision;  Preparation of transaction documents (NDA – Non- disclosure Agreement/LOI- Letter of Intent);  Select Transaction team;  Appoint advisors;  Consider funding ability.  Initial approach letter;  Signing of NDA;  Prepare & share initial information requests;  Formulation of LOI (Letter of Intent) & possible negotiations;  Initial meeting and Q&A;  Circulate information on the Target to the Transaction team.  Set scope of due diligence;  Set up VDR (virtual data room);  Coordinating of due diligence, further meetings and Q&A sessions;  Consider points relevant to the Post-Merger (PMI) phase;  Revisit indicative valuation & prepare detailed valuation based on due diligence findings;  SPA negotiations with the seller;  Development of final structure (share/asset deal) and final valuation;  Approvals;  Signing of SPA & Close.  Consider the extent of integration;  Development of 100 Day PMI Plan;  Consider short & long term objectives;  Estimate requirements to capture synergies;  Determine resource needs & optimal allocation. Parties Involved  CFO;  Head of M&A;  Accountants;  Corporate finance advisors;  Consultants.  Senior management;  CEO, CFO, CTO;  Strategy director;  Head of M&A;  Head of Business Development;  Consultants.  Company general counsel;  Lawyers;  Senior management.  Company general counsel;  Lawyers;  Senior management/HR. 11 © Midaxo 2018 www.midaxo.com

  12. Looking to Buy or Sell a Business? CONTACT US NOW FOR A FREE BUSINESS VALUATION WWW.MERGERSCORP.COM

  13. MergersCorp.com The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Member firms of the MergersCorp network of independent firms are affiliated with MergersCorp International. MergersCorp International provides no client services. No member firm has any authority to obligate or bind MergersCorp International or any other member firm vis-à-vis third parties, nor does MergersCorp International have any such authority to obligate or bind any member firm. Copyright © 2020 MergersCorp International. All rights reserved. 13 © Midaxo 2018 www.midaxo.com

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