Flag of the Turks and Caicos Islands>

Economy and Banking Sector of the Turks and Caicos Islands

Turks and Caicos Islands
Location
Caribbean Sea
EU Status
not part of the EU (OCT)

The Turks and Caicos Islands is a British overseas territory situated in the Caribbean Sea.

Currency
USD (United States dollar)
Population  (2012)
31 458
Nominal GDP
n/a
Credit Ratings (as of Sep 2016)
-/-

The economy of the Turks and Caicos Islands is based on tourism, offshore financial services, and fishing.

Turks and Caicos Islands signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Turks and Caicos Islands has FATCA agreement with the U.S. in effect since 01 December 2014 (Intergovernmental Agreement Model 1).

Number of Banks
7
Consolidated Banking Assets
n/a
Deposit Guarantee
0 USD

Currently there are 7 banks operating in the Turks and Caicos Islands. The banks are foreign-controlled and operate a traditional business model with high capital buffers.

See Also