Providenciales, Turks and Caicos Islands – Friday, 6th March 2026: The Inland Revenue Department (IRD) has opened a Public Consultation from March 6 – March 20th 2026 as part of the Government’s Business Licensing Reform, which aims to:
✅ Strengthen the Turks and Caicos Islands economy
✅ Expand opportunities for Turks and Caicos Islanders to own and grow businesses
✅ Create a clear and transparent system for classifying business activities
✅ Maintain an open and competitive investment environment
Under the proposed framework, business activities will be grouped into four categories:
🔹 Exclusive – Reserved entirely for Turks and Caicos Islanders to support local entrepreneurship.
🔹 Reserved – Requires at least 60% Islander ownership, encouraging partnerships between Islanders and foreign investors.
🔹 Restricted – Includes industries of national importance (such as energy, hospitals, water treatment, pharmaceuticals, and gaming) that require Cabinet review and additional approvals.
🔹 General – No ownership restrictions; designed to keep the country open to investment and support business innovation.
The reform also includes measures to support Islander entrepreneurs, including business training, financing support, and stronger transparency rules.
View the full list of proposed categories and fees: www.gov.tc/publications
Join the conversation!
The public and business community are invited to attend the Honorable Premier’s Town Hall Meeting:
Date: Tuesday, March 10, 2026
Time: 6:30 PM
Location: Gustarvus Lightbourne Sports Complex, Providenciales
You can also submit feedback by email:
For more information, visit: www.gov.tc/revenue
Your feedback will help shape the future of business in the Turks and Caicos Islands.