How to Buy Property in Turks and Caicos Islands
Anyone may purchase land in the Turks and Caicos Islands(TCI), save, if the purchaser wishes to hold property through a company, the company must be a TCI company. Foreign companies are unable to directly purchase property in the TCI. However, there are no restrictions on a foreign company holding the shares of a TCI company that owns property in the TCI. There is no restriction on a non-TCI citizen or non-TCI resident owning land the TCI or holding the shares of a TCI company, which owns property. The TCI’s Registered Land System Land in the TCI is registered under the Registered …
TCI Government Amends Stamp Duty Waiver Policy
The urks and Caicos Government announced the amendment of the Turks and Caicos Islands Covid-19 Stamp Duty Waiver Policy which came into effect on 21st September, 2020. The amendments are as follows: The removal from the Affidavit Form of the five (5)-year restriction on the acquired property; An extension of the fifty percent (50%) Stamp Duty concession rates timeline to the 30th November 2020 on the transfer of immovable property or any real right such property, valued up to $2 million, made from 21st October; and An extension of the twenty-five percent (25%) Stamp Duty concession rate which will now …
TCI Government reduces stamp duty on immovable property
In an effort to stimulate economic activity in the Turks and Caicos Islands, the Government has launched a new Stamp Duty Waiver Policy. The stamp duty waiver on immovable property is available to all eligible applicants that transact a transfer of immovable property or any real right over such property made on or after the 21st September 2020 but before 20th December 2020. Provided that the transaction is completed during the above-mentioned period. The stamp duty waiver granted would be as follows: 75% reduction of stamp duty on the transfer of immovable property or any real right such property, valued up …
