Buying property in Turks and Caicos |
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Turks and Caicos Caribbean The Turks and Caicos Islands Caribbean, or TCI, is a British Overseas Territory located in the Caribbean Sea. These islands are on the southeast end of the Bahamas chain, north of the Dominican Republic. The Islands are becoming more popular for overseas investors because of their climate, modern banking system and no-tax structure. Buying property here is relatively easy and straightforward. There are many real estate agents and lawyers who can handle your transaction, and because the process is relatively simple there should not be too much to worry about. There are no restrictions on property ownership in TCI, so anyone can buy without any permits. There are eight populated islands in Turks and Caicos Isalnds Caribbean: Providenciales, the most populous, Grand Turk, where the capital is located, South Caicos, North Caicos, Middle Caicos, East Caicos, West Caicos and Salt Cay. Once you have found a suitable property, you or your agent can perform a title search through the Torrens System of Land Registry. All title is guaranteed through the government, so there should be no challenges to the registered owner. This registry is available to the public, so performing the search is not difficult. There are no property taxes, income taxes or capital gains taxes to pay on property. For new purchasers, though, there is a stamp duty. This ranges from 0-5% on the less developed islands to as much as 9.75% on Providenciales, or Provo as it is commonly called. In order to reside on Turks and Caicos Islands for more than 30 days at a time, you will need a residency permit. Temporary permits are renewable yearly and permanent permits require an investment in a business or home of $250,000 in Provo or $125,000 on the other islands. The permits can be expensive, so look into the exact costs for your location before buying. Turks and Caicos useful information Turks and Caicos Islands - Beautiful by Nature - Turks and Caicos ...
Welcome to Turks & Caicos!
Turks and Caicos Islands - Wikipedia, the free encyclopedia
Turks and Caicos Islands Information Directory - TCI Mall Turks ...
CIA - The World Factbook -- Turks and Caicos Islands
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