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 …
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 …
