Turks and Caicos trust: how it works and how to set one up

What a trust in the Turks and Caicos is

A trust is an arrangement under which one person, the settlor, transfers assets to a trustee. The trustee holds them for the beneficiaries the deed names or describes.

In the islands the arrangement sits under the Trusts Ordinance 2016 (source: Trusts Ordinance Chapter 16.12).

The Visit TCI guide describes the regime as modern. It says trusts can be perpetual, so the law does not force a trust to end after a fixed period.

Both revocable and irrevocable trusts are permitted. A revocable deed lets the settlor take assets back; an irrevocable one does not.

Which one fits depends on your aims and on how your home country treats each type, so your tax adviser sees the draft early.

Many deeds are discretionary. The trustee decides who receives what and when, guided by the deed and by a letter of wishes from the settlor.

The letter guides the trustee but does not bind it. Keeping it current is the simplest way to make your intentions clear.

The Ordinance repeals and replaces the earlier Trusts Ordinance, according to its long title. A 2016 law-firm commentary adds that it allows trusts for purposes, with an enforcer, and lets a settlor reserve certain powers.

The Ordinance text is linked in the facts table as it stood in March 2018. Your lawyer confirms how it applies to your deed.

Who a trust in the Turks and Caicos suits

This structure suits families with assets or beneficiaries in more than one country. It also suits owners of private companies who want one trustee outside their home country.

This page describes typical uses of a Turks and Caicos trust. Reasons that bring people to a structure like this include:

• They want one deed and one set of records for assets held in several countries.
• They are planning succession and want a trustee to follow written wishes.
• They are weighing Caribbean options and want sourced facts rather than sales copy.
• They want their own lawyer to examine the structure before any money moves.

If you are also weighing the Bahamas or Belize, our jurisdiction guide places each option side by side, with sources.

A trust is not the right tool for every goal. The first review may show that a will, a company or a different place suits you better.

Counsel at home must confirm that a structure in the islands is lawful and suitable where you live. Your tax adviser says what you report at home.

We replace neither of them. We work alongside both from the first message and send them the same drafts we send you.

The law behind the structure, with each source and date, is on our page about Turks and Caicos trust law.

Short answers to common questions are on the plain-answers page.

What the trustee does

The trustee holds legal title to the assets and manages them under the deed. It keeps accounts, makes decisions on distributions, and records each decision in writing.

A 2016 commentary adds that the place of administration can be outside the islands. Whether a trustee based elsewhere can act is a point your lawyer confirms, so ask before you choose one.

A trust company in the islands holds office as trustee, and we are your contact as a settlor living abroad.

Our part is to run the identity checks, collect the documents and prepare the structure with your lawyer. The trustee makes the decisions and keeps the formal records.

This split matters when something changes, such as a distribution, a new beneficiary or a different protector. You send us the request, we prepare the papers, and the trustee decides under the deed.

You and the trustee meet at set points rather than every week. We suggest a review each year and another whenever your family or assets change.

A marriage, a birth, a move to a new country or the sale of a business all count. At the review the trustee confirms what it holds, and you can update your letter of wishes.

Other roles are set in the deed. A protector, for example, can be given power to approve key trustee decisions, and a purpose trust needs an enforcer.

Documents and steps to start

The set-up runs in a fixed order, and nothing is signed until your lawyer has reviewed the deed. The order is:

1. Enquiry, then client acceptance and identity checks.
2. Design of the structure with your lawyer, including any holding company.
3. Drafting of the deed and your letter of wishes.
4. Signing and acceptance by the trustee.
5. Transfer of assets to the trustee or to a company the trust owns.

We ask first for identity documents, proof of address, evidence of the source of funds and wealth, and details of each beneficiary.

After that, timing depends on third parties: your lawyer, the trustee and the bank. We give you a checklist and a list of open items, not a promised date.

A missing bank letter can hold up every later step, which is why gathering the evidence early saves the most time.

To begin, write down who should benefit, what you plan to transfer, and the advisers you will use.

The step-by-step set-up guide lists the documents and the order of the steps.

What it costs depends on the shape of the structure, not on a fixed tariff. We publish the set-up fee for a standard trust; annual administration, event-based work and third-party charges are quoted after we review your case.

The cost guide explains what drives the total.

For the wider picture of planning against claims, see our page on wealth structuring and asset protection.

Facts we reviewed, with source and date

Each fact below comes from the page named in the source column.

Basis: the Ordinance text, accessed 2026-11-06, and Visit TCI pages, accessed 2026-11-05.

Outside these facts: changes to the Ordinance after March 2018, reporting duties, the register of beneficial owners and any limit on who may be a beneficiary.

These are points your lawyer confirms for your deed.

A December 2016 law-firm commentary says a claim to set aside a transfer on insolvency grounds must start within four years of the transfer.

Your lawyer confirms how it applies to your deed.

Read the commentary yourself.

Tax follows the people, not only the trust. Your home country decides how it treats you as settlor or beneficiary, and we do not promise any tax outcome.