Startup / Entrepreneur

Self-Employed Work Permit

๐Ÿš€ Startup Capital
No fixed minimum capital requirement. Must demonstrate financial capability through bank statements and proof of company ownership. Business licence fees range from USD 100 to USD 7,500 annually
โฑ๏ธ Duration
Typically issued year-to-year, can be granted for up to 5 years; renewable up to 5 times
๐Ÿ‘ช Dependants
Yes
Spouse and children can be endorsed on the permit; dependants do not receive automatic work rights

The Self-Employed Work Permit allows foreign nationals to establish and operate their own business in the Turks and Caicos Islands. Governed by the Immigration Ordinance 2015, the permit targets entrepreneurs, sole traders, and business owners. Unlike employed-person work permits, self-employed applicants do not need labour clearance or proof that no qualified local is available. TCI has no income tax, capital gains tax, corporation tax, or inheritance tax, making it attractive for business formation.

Requirements
  • Valid TCI business licence from the Revenue Department (must be obtained before applying for the work permit)
  • Cover letter outlining the need for the work permit
  • Bank statements and proof of company ownership
  • Partner/shareholder listings or certificate of incumbency
  • Organisational structure documentation
  • Academic and professional qualification certificates
  • Evidence of English proficiency (if not from an English-speaking country)
  • Local medical certificate issued within 6 months
  • Two passport-size photographs (one certified)
  • Police record
  • Must be 18 years or older
Restrictions
  • May only work in the self-employed capacity specified on the permit and matching the business licence
  • Cannot take up employment with another entity without a separate work permit
  • Most business types require a local partner with Turks and Caicos Islander Status (Belongership), with majority ownership by a TCI Islander
  • 90 business activity categories are reserved exclusively for TCI Islanders
  • Moratoriums may apply to specific business categories
  • A business licence does not guarantee that a work permit will be issued
Processing

Processing time: 15 days standard (exempt from labour clearance); 7 days with Fast Track Service (additional USD 500)

Fee: Non-refundable admin fee of USD 150 or 10% of permit fee (whichever is greater); work permit fees range from USD 200 to USD 10,000 depending on occupation category; USD 500 repatriation fee; USD 100 for physical permit card

Applications submitted in person at Customer Service Centers on Providenciales (Sam's Building) or Grand Turk (Three Degrees Office Complex). Self-employed persons may submit their own applications directly.

Renewal

Renewal applications must be submitted at least 30 days before expiry. Requires a local police record and proof that NHIP and NIB contributions are up to date. A USD 250 penalty applies if the permit has already expired. National Insurance contributions are 10% of earnings.

Path to Permanent Residence

After 10 consecutive years of holding work permits, holders may apply for a Permanent Residence Certificate with the right to work (fee: USD 10,000). Alternatively, a business investment of USD 750,000 to USD 1,500,000 qualifies for the investment-route PRC (fee: USD 25,000).

Other Visa Programs in North America

Countryโ†‘
Programโ†•
Incomeโ†•
Investmentโ†•
Capital Requiredโ†•
Durationโ†•
Dependantsโ†•
Citizenshipโ†•
Compare
๐Ÿ‡ฆ๐Ÿ‡ฎ Anguilla
Residence by Investmentโ€”
$150,000 one-time
โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡ฆ๐Ÿ‡ฎ Anguilla
Work from Anguilla Certificate
No official minimum incom...
โ€”โ€”
91ย days โ€” 1ย year
Yes
โ€”
๐Ÿ‡ฆ๐Ÿ‡ฌ Antigua and Barbuda
Citizenship by Investment Programmeโ€”
$230,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡ฆ๐Ÿ‡ผ Aruba
Investor/Shareholder Residence Permitโ€”
$140,000 one-time
โ€”
1ย year
Yes
Yes (5yr)
๐Ÿ‡ฆ๐Ÿ‡ผ Aruba
One Happy Workation
No specific minimum incom...
โ€”โ€”
7ย days โ€” 90ย days
Yes
โ€”
๐Ÿ‡ฆ๐Ÿ‡ผ Aruba
Retiree / Interest Rate Earner Residence Permit
$28,000 / year
โ€”โ€”
1ย year
Yes
Yes
๐Ÿ‡ง๐Ÿ‡ธ Bahamas
Bahamas Extended Access Travel Stay (BEATS)
No specific minimum incom...
โ€”โ€”
1ย year โ€” 3ย years
Yes
No
๐Ÿ‡ง๐Ÿ‡ธ Bahamas
Economic Permanent Residence Certificateโ€”
BSDย 1,000,000 one-time
โ€”
Permanent
Yes
Yes (10yr)
๐Ÿ‡ง๐Ÿ‡ธ Bahamas
Permit to Reside (Independent Economic Resident)
No fixed minimum income. ...
โ€”โ€”
1ย year โ€” 5ย years
Yes
โ€”
๐Ÿ‡ง๐Ÿ‡ง Barbados
Special Entry and Reside Permit (Category 1: High Net Worth Investor)โ€”
$2,000,000 one-time
โ€”
5ย years โ€” Permanent
Yes
Yes
๐Ÿ‡ง๐Ÿ‡ง Barbados
Special Entry and Reside Permit (Category 2: Retired Property Owner)
No fixed minimum income a...
โ€”โ€”
5ย years โ€” Permanent
Yes
Yes
๐Ÿ‡ง๐Ÿ‡ง Barbados
Welcome Stamp
$50,000 / year
โ€”โ€”
1ย year
Yes
Yes
๐Ÿ‡ง๐Ÿ‡ฟ Belize
Long Stay Visitor Permit
$75,000 / year
โ€”โ€”
6ย months
Yes
Yes (5yr)
๐Ÿ‡ง๐Ÿ‡ฟ Belize
Qualified Retired Persons Incentive Program
$2,000 / month
โ€”โ€”
1ย year โ€” Permanent
Yes
No
๐Ÿ‡ง๐Ÿ‡ฟ Belize
Temporary Residence Permit (Investment)โ€”
$250,000 one-time
โ€”
1ย year
Yes
Yes (5yr)
๐Ÿ‡ง๐Ÿ‡ฒ Bermuda
Economic Investment Residential Certificateโ€”
BMDย 2,500,000 one-time
โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡ง๐Ÿ‡ฒ Bermuda
Global Entrepreneur Work Permitโ€”โ€”
No fixed minimum capital ...
1ย year
Yes
โ€”
๐Ÿ‡ง๐Ÿ‡ฒ Bermuda
Permission to Reside on an Annual Basis
No fixed minimum income p...
โ€”โ€”
1ย year โ€” 5ย years
Yes
No
๐Ÿ‡ป๐Ÿ‡ฌ British Virgin Islands
Right to Reside Permit
No fixed minimum; must de...
โ€”โ€”
1ย year
Yes
โ€”
๐Ÿ‡จ๐Ÿ‡ฆ Canada
Digital Nomad Policy
No minimum income thresho...
โ€”โ€”
6ย months
Yes
โ€”
๐Ÿ‡จ๐Ÿ‡ฆ Canada
Quebec Immigrant Investor Programโ€”
CA$1,200,000 one-time
โ€”
Permanent
Yes
Yes (3yr)
?
๐Ÿ‡จ๐Ÿ‡ฆ Canada
Self-Employed Persons Programโ€”โ€”โ€”
Permanent
Yes
Yes (3yr)
?
๐Ÿ‡จ๐Ÿ‡ฆ Canada
Start-Up Visa Programโ€”โ€”
CA$75,000 one-time
Permanent
Yes
Yes
?
๐Ÿ‡ฐ๐Ÿ‡พ Cayman Islands
Certificate of Direct Investmentโ€”
$1,220,000 one-time
โ€”
25ย years
Yes
Yes
๐Ÿ‡ฐ๐Ÿ‡พ Cayman Islands
Certificate of Permanent Residence for Persons of Independent Meansโ€”
$2,440,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡ฐ๐Ÿ‡พ Cayman Islands
Residency Certificate for Persons of Independent Meansโ€”
$1,220,000 one-time
โ€”
25ย years
Yes
No
๐Ÿ‡ฐ๐Ÿ‡พ Cayman Islands
Zone Employment Certificateโ€”โ€”
$15,000 one-time
5ย years
Yes
โ€”
๐Ÿ‡จ๐Ÿ‡ท Costa Rica
Digital Nomad Visa
$3,000 / month
โ€”โ€”
1ย year โ€” 2ย years
Yes
No
๐Ÿ‡จ๐Ÿ‡ท Costa Rica
Residencia Temporal Inversionistaโ€”
$150,000 one-time
โ€”
2ย years
Yes
Yes
๐Ÿ‡จ๐Ÿ‡ท Costa Rica
Residencia Temporal Pensionado
$1,000 / month
โ€”โ€”
2ย years
Yes
โ€”
๐Ÿ‡จ๐Ÿ‡ท Costa Rica
Residencia Temporal Rentista
$2,500 / month
โ€”โ€”
2ย years
Yes
โ€”
๐Ÿ‡จ๐Ÿ‡บ Cuba
Real Estate Resident Visaโ€”
No fixed minimum investme...
โ€”
1ย year
Yes
โ€”
๐Ÿ‡ฉ๐Ÿ‡ฒ Dominica
Work In Nature Extended Stay Visa
$50,000 / year
โ€”โ€”
18ย months
Yes
Yes
๐Ÿ‡ฉ๐Ÿ‡ด Dominican Republic
Residencia Permanente en Calidad de Inversionistaโ€”
$200,000 one-time
โ€”
1ย year โ€” Permanent
Yes
Yes
๐Ÿ‡ฉ๐Ÿ‡ด Dominican Republic
Residencia Permanente en Calidad de Jubilado o Pensionado
$1,500 / month
โ€”โ€”
1ย year โ€” Permanent
Yes
Yes
๐Ÿ‡ฉ๐Ÿ‡ด Dominican Republic
Residencia Permanente en Calidad de Rentista
$2,000 / month
โ€”โ€”
1ย year โ€” Permanent
Yes
Yes
๐Ÿ‡ธ๐Ÿ‡ป El Salvador
Definitive Residency for Investorsโ€”
Investment or donation to...
โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡ธ๐Ÿ‡ป El Salvador
Freedom Visaโ€”
$1,000,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡ธ๐Ÿ‡ป El Salvador
Temporary Residency for Pensioners
$1,226 / month
โ€”โ€”
1ย year โ€” 5ย years
Yes
โ€”
๐Ÿ‡ธ๐Ÿ‡ป El Salvador
Temporary Residency for Rentistas
$1,460 / month
โ€”โ€”
1ย year โ€” 5ย years
Yes
โ€”
๐Ÿ‡ฌ๐Ÿ‡ฉ Grenada
Citizenship by Investment Programmeโ€”
$235,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡ฌ๐Ÿ‡ฉ Grenada
Remote Work Permit
$37,000 / year
โ€”โ€”
1ย year โ€” 2ย years
Yes
Yes
๐Ÿ‡ฌ๐Ÿ‡น Guatemala
Permanent Residence for Rentistas or Pensioners
$1,250 / month
โ€”โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡ฌ๐Ÿ‡น Guatemala
Temporary Residence for Intellectuals, Researchers, and Scientistsโ€”โ€”โ€”
1ย year โ€” 5ย years
Yes
โ€”
๐Ÿ‡ฌ๐Ÿ‡น Guatemala
Temporary Residence for Investorsโ€”
$100,000 one-time
โ€”
1ย year โ€” 5ย years
Yes
โ€”
๐Ÿ‡ฌ๐Ÿ‡น Guatemala
Temporary Residence for Self-Employed Workersโ€”โ€”
No minimum capital requir...
1ย year โ€” 5ย years
Yes
โ€”
๐Ÿ‡ฌ๐Ÿ‡น Guatemala
Temporary Residence for Workers with Foreign Employer
$2,000 / month
โ€”โ€”
1ย year โ€” 5ย years
Yes
Yes (5yr)
๐Ÿ‡ญ๐Ÿ‡ณ Honduras
Investor Residencyโ€”
$50,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡ญ๐Ÿ‡ณ Honduras
Pensionado Residency
$1,500 / month
โ€”โ€”
2ย years โ€” Permanent
Yes
Yes
๐Ÿ‡ญ๐Ÿ‡ณ Honduras
Rentista Residency
$2,500 / month
โ€”โ€”
2ย years โ€” Permanent
Yes
Yes
๐Ÿ‡ฏ๐Ÿ‡ฒ Jamaica
Permanent Residence (Retirement)
No fixed minimum income t...
โ€”โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡ฒ๐Ÿ‡ถ Martinique
Talent Porteur de Projet โ€” Business Creationโ€”โ€”
โ‚ฌ30,000 one-time
4ย years
Yes
โ€”
๐Ÿ‡ฒ๐Ÿ‡ถ Martinique
Talent Porteur de Projet โ€” Innovative Economic Project (French Tech Visa)โ€”โ€”
No minimum investment req...
4ย years
Yes
โ€”
๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico
Permanent Resident Visa for Retirees and Pensioners
$7,400 / month
โ€”โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico
Temporary Resident Visa by Economic Solvency
$4,432 / month
โ€”โ€”
1ย year โ€” 4ย years
Yes
No
๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico
Temporary Resident Visa for Investorsโ€”
$299,000 one-time
โ€”
1ย year โ€” 4ย years
Yes
Yes (5yr)
๐Ÿ‡ฒ๐Ÿ‡ธ Montserrat
Permit of Economic Residenceโ€”
EC$400,000 one-time
โ€”
5ย years
Yes
Yes
๐Ÿ‡ฒ๐Ÿ‡ธ Montserrat
Remote Employment Stamp
$70,000 / year
โ€”โ€”
1ย year
Yes
โ€”
๐Ÿ‡จ๐Ÿ‡ผ Netherlands Antilles
@Home in Curacao
No official minimum incom...
โ€”โ€”
6ย months โ€” 1ย year
Yes
โ€”
๐Ÿ‡จ๐Ÿ‡ผ Netherlands Antilles
Investor Permitโ€”
Cg.ย 500,000 one-time
โ€”
3ย years โ€” Permanent
Yes
Yes (5yr)
๐Ÿ‡จ๐Ÿ‡ผ Netherlands Antilles
Rentier or Retired Residence Permit
ANGย 3,000 / month
โ€”โ€”
1ย year
Yes
โ€”
๐Ÿ‡ณ๐Ÿ‡ฎ Nicaragua
Investor Permanent Residenceโ€”
$30,000 one-time
โ€”
5ย years
Yes
Yes (2yr)
๐Ÿ‡ณ๐Ÿ‡ฎ Nicaragua
Residencia Temporal Pensionado
$600 / month
โ€”โ€”
1ย year
Yes
โ€”
๐Ÿ‡ณ๐Ÿ‡ฎ Nicaragua
Residencia Temporal Rentista
$750 / month
โ€”โ€”
1ย year
Yes
โ€”
๐Ÿ‡ต๐Ÿ‡ฆ Panama
Permanent Residence Permit for Retirees and Pensioners
$1,000 / month
โ€”โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡ต๐Ÿ‡ฆ Panama
Professional Foreign Residence Permitโ€”โ€”โ€”
2ย years โ€” Permanent
Yes
Yes (5yr)
๐Ÿ‡ต๐Ÿ‡ฆ Panama
Qualified Investor Permanent Residenceโ€”
$300,000 one-time
โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡ต๐Ÿ‡ฆ Panama
Short Stay Visa for Remote Workers
$3,000 / month
โ€”โ€”
9ย months โ€” 18ย months
No
No
๐Ÿ‡ฐ๐Ÿ‡ณ Saint Kitts and Nevis
Citizenship by Investment Programmeโ€”
$250,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡ฐ๐Ÿ‡ณ Saint Kitts and Nevis
Temporary Residence Permit
No specific minimum incom...
โ€”โ€”
6ย months โ€” 1ย year
Yes
โ€”
๐Ÿ‡ฑ๐Ÿ‡จ Saint Lucia
Citizenship by Investment Programmeโ€”
$240,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡ฑ๐Ÿ‡จ Saint Lucia
Live It Extended Stay Program
No minimum income require...
โ€”โ€”
1ย year
Yes
No
๐Ÿ‡ต๐Ÿ‡ฒ Saint Pierre and Miquelon
Visitor Temporary Residence Card
โ‚ฌ1,443 / month
โ€”โ€”
1ย year
Yes
Yes (5yr)
๐Ÿ‡น๐Ÿ‡จ Turks and Caicos Islands
Independent Means Residence Permit
No fixed minimum. Must de...
โ€”โ€”
1ย year โ€” 3ย years
Yes
โ€”
๐Ÿ‡น๐Ÿ‡จ Turks and Caicos Islands
Permanent Residence Certificate (Investment)โ€”
$300,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡น๐Ÿ‡จ Turks and Caicos Islands
Self-Employed Work Permitโ€”โ€”
No fixed minimum capital ...
1ย year โ€” 5ย years
Yes
โ€”
๐Ÿ‡บ๐Ÿ‡ธ United States
EB-1A Extraordinary Abilityโ€”โ€”โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡บ๐Ÿ‡ธ United States
EB-2 National Interest Waiverโ€”โ€”โ€”
Permanent
Yes
Yes (5yr)
๐Ÿ‡บ๐Ÿ‡ธ United States
EB-5 Immigrant Investor Programโ€”
$800,000 one-time
โ€”
Permanent
Yes
Yes
๐Ÿ‡บ๐Ÿ‡ธ United States
International Entrepreneur Paroleโ€”โ€”
$311,071 one-time
30ย months โ€” 5ย years
Yes
โ€”