Providenciales, Turks and Caicos Islands – Friday, 6^th March 2026:

The Inland Revenue Department (IRD) has opened a Public Consultation from March 6 – March 20^th 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: This email address is being protected from spambots. You need JavaScript enabled to view it.

For more information, visit:  www.gov.tc/revenue

Your feedback will help shape the future of business in the Turks and Caicos Islands.

ENDS

FOR IMMEDIATE RELEASE

March 2, 2026

BUSINESS LICENCE RENEWAL — REVISED COMMENCEMENT DATE

The Inland Revenue Department (IRD) within the Ministry of Finance, Investment & Trade wishes to inform the business community and the general public of an update regarding Business Licence renewals for Financial Year 2026/2027.

Please note that the renewal process will not commence on March 2, 2026, as previously announced. This adjustment is necessary to allow the Department to complete important administrative and operational preparations to ensure the renewal process is smooth, efficient and convenient for all licence holders.

In the meantime, all existing Business Licences for Financial Year 2025/2026 remain valid. The Ministry is actively working to secure an extension of the current validity period to ensure there is no disruption to businesses and to support a seamless transaction into the 2026/2027 renewal cycle.

A revised commencement date of the amended Business Licence Act will be communicated in due course.

We sincerely regret any inconvenience this change may have cause and thank the business community for its continued patience, understanding and cooperation.

For further information, please visit the IRD's website or contact our offices in Grand Turk or Providenciales, or the District Commissioner's Offices in the Family Islands.

— END —

The Inland Revenue Department (IRD) in the Ministry of Finance, Investment & Trade wishes to inform the business community that the moratorium on the issuance of new Contractor’s licenses commenced on March 21, 2025. This moratorium will remain in effect until September 21, 2025, to allow for a thorough review and assessment of the contractor’s licensing category.

This temporary moratorium applies to applications from following entities:

•  Companies: Where a non-Turks and Caicos Islander or non-Turks and Caicos Islander associate company holds any percentage of shares in the company.
•  Partnerships: Where one (1) of the partners is a non-Turks and Caicos Islander.
•  Sole Traders: In cases where the individual is a non-Turks and Caicos Islander.

The goal of the moratorium is to evaluate the overall structure of the sector while ensuring a thorough and effective process for granting contractor’s licenses.

License holders and applicants seeking to submit applications or renewals are encouraged to visit the Inland Revenue Department at their offices in Grand Turk or Providenciales. Additionally, applicants may visit the District Commissioner’s Offices in the Family Islands to complete and submit their applications/renewal forms.

For more information regarding the application or renewal process, please visit the Inland Revenue Department’s website at https://www.gov.tc/revenue/ or contact one of the IRD offices located in Grand Turk, Providenciales, or the District Commissioner’s Offices in the Family Islands.

The IRD appreciates the cooperation of the business community during this review period and remains committed to improving the licensing process for contractors in the Turks and Caicos Islands.

MINISTRY OF FINANCE, INVESTMENT & TRADE

BUTTERFIELD SQUARE, PARADE AVENUE,

DOWNTOWN, PROVIDENCIALES,

TURKS & CAICOS ISLANDS

www.gov.tc/revenue

(649) 338-5234 or (649) 338-2069