Turks and Caicos Real Estate Market Thrives in Exceptional Conditions
Tourism and real estate sales are booming in the Turks and Caicos Islands (TCI), surpassing other Caribbean regions. Both sales and pre-construction numbers reflect a thriving market, with many large beachfront parcels in Providenciales being transformed into high-end, branded hotels and residences to meet the strong demand for investment and vacation properties. A report from Turks & Caicos Sotheby’s International Realty highlights that the islands’ exceptional tourism offerings continue to attract A-listers from around the world, as well as buyers seeking homes with stunning ocean views, a mild climate, and a serene Caribbean atmosphere. The first quarter of this year …
Turks and Caicos Emerges as Top Luxury Destination
Turks and Caicos has emerged as the Caribbean’s leading luxury travel destination in 2024, recording an impressive 73% growth in premium-class travel compared to the previous year. According to data from Forward Keys Destination Insights, this surge underscores the region’s appeal to affluent travelers seeking exclusive experiences. The Caribbean’s overall overseas air passenger arrivals have increased by 9% year-on-year in the first half of 2024, with high-end cabin bookings, including First and Business Class, soaring by 39% compared to the same period in 2023. Minister of Tourism, Hon Josephine Connolly, credits this achievement to the Turks and Caicos Islands’ status …
Air and Cruise Arrivals Surge in Turks and Caicos: High Expectations for Summer
The Turks and Caicos Islands are experiencing growth in visitor arrivals, with increases reported at its primary entry points. According to the Ministry of Tourism, from January to April, the Islands welcomed 271,326 air travelers, marking a 10.46% rise compared to the 245,637 arrivals during the same period in 2023. Tourism Minister Hon. Josephine Connolly expressed her pride in Turks and Caicos continuing to be a top destination for vacationers. She highlighted that preliminary data indicates high air arrival numbers are expected to persist through August. “This is excellent news for the people of Turks and Caicos. Through Experience Turks …
Landmark Development Deal Brings Three IHG-Branded Hotels to Turks and Caicos
The government of the Turks and Caicos Islands has signed a major development deal with Molo Hotel Group to build three new IHG-branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos, and Hotel Indigo Turks and Caicos. Set for completion by 2027, these hotels will offer luxury accommodations and amenities along Grace Bay Beach, enhancing the island’s tourism infrastructure. This agreement not only boosts the tourism sector but also aims to foster economic growth and create jobs. Molo Hotel Group will partner with the Turks and Caicos Islands Community College to promote hospitality careers through training programs, career fairs, …
Wessex Fairchild Attorneys rank in Chambers
We proudly announce that our firm has been ranked in Chambers General Business Law category for the third consecutive year, reaffirming our commitment to excellence and client satisfaction. Wessex Fairchild is synonymous with excellence in dispute resolution, a reputation earned through years of dedicated service and successful outcomes. We are honoured by this recognition and remain devoted to delivering legal services to clients across Turks and Caicos. See our ranking at: https://chambers.com/department/wessex-fairchild-attorneys-general-business-law-global-2:852:219:1:23166349 …
TCI and UK Governments Review Management of Crown Land
TCI and UK Governments recently commissioned a joint independent review of the management of Crown Land in the Turks and Caicos Islands. Members of the public and a wide range of stakeholders were consulted by Attorney at law Mr R Donhue Gardiner, TCI Attorney with experience in land law and policy development in TCI, and Professor Simon Cooper PhD, an expert in Caribbean land law and registration systems. The final report, published on 1st December 2022 contains 146 joint recommendations, to improve the management of this resource and maximise its use for the benefit of all the people of TCI. …
Musician John Legend Shares Investing Tips with Brooklyn Law Class
Grammy Award-winning musician and a veteran investor for several business startups, John Legend shared investing tips with a Brooklyn law class. Mitchell Littman, a professor at the Brooklyn Law School, gave an informative lecture in his Transactional Skills for Startups class using Legend’s investing experience. The musician shared his insights on how he compares startups through a dashboard software created by one of his advisors. The insights shed light on how people should effectively evaluate startups in their early stages. The crucial factors to consider when evaluating the investment health of startups as shared by Legend include: Look at the …
Ritz-Carlton Turks and Caicos Acquires Dellis Cay
The owners and developers of The Ritz-Carlton Turks and Caicos has acquired private island Dellis Cay many years after development on the island ground to a halt. The multi-million purchase of the private island was confirmed by Roberto Stipa, Director Desarrollos Hotelco, the owners of The Ritz-Carlton. Located between the islands Parrot Cay and Pine Cay, Dellis Cay was destined to be another exclusive luxury community in the Turks and Caicos Islands before the project fell victim to the 2008 financial crisis. The deal for the 560-acre private island with partially completed buildings was bought from Trinidad and Tobago Unit …
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 …
