Turks and Caicos is a centre where there are no taxes and the concept of secrecy is enshrined in law. It has always been understood that when you decide to conduct your financial affairs in Turks and Caicos you are accessing a financial environment that is secure, modern and one in which you can have confidence. TCI has severe penalties for anyone revealing client information and financial services companies doing busines in TCI are resonsible to the local governing authorties and to those aurthorities alone. Only rarely, and then only by local court order, can the veil of confidentiality be pierced and this occurs in cases of obvious criminal actiivity such as money laundering.

Having said that, there have been many changes over the past several years and these changes have come as a result of the the terrorist attacks on September 11 and the passing into law of the US Patriot Act. This provides financial institutions and federal regulators with new powers to combat money laundering and terrorist financing. "Know your Customer" rules have been implemented to a high degree and domestic taxing authorities are using the current changes to battle against perceived tax evasion and flight of capital offshore.

It is becoming more difficult as time goes on to help high net worth individuals to implement effective estate or tax planning. Still, an international tax law professional can work through all the difficulties and changing legislation to find perfectly legal and effective ways to reduce tax and shield assets without crossing the line into tax evasion. It has become increasingly necessary for the offshore advisor to help with tax planning and be well informed and current in his knowledge of global tax environment.

Turks and Caicos has such international tax professionals to help you understand the vehicles that are available to you. Ask Peter to recommend such a professional.