Forming A Limited Life Company

A LIMITED LIFE COMPANY

Of particular interest to US taxpayers is the provision for the incorporation of an exempt company under Part VII A as a Limited Life Company.

A Limited Life Company automatically is deemed to be wound up on its 50th anniversary date of incorporation, or earlier if its articles so specify. This period may be extended to a total of 150 years. Such a company requires two shareholders or more and the transfer of shares may be restricted. In certain circumstances, such companies receive favorable tax treatment under US tax laws.

The government fee for incorporation of a Limited Life Company is $300.00 instead of the usual $150.00 for exempt companies.


Twa, Marcelin, Wolf
Areas of Practice in the Turks and Caicos Islands

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