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Turks and Caicos Reduces Stamp Duty on Real Estate

real estate

The time is now to invest in the buoyant Turks and Caicos Islands (TCI) luxury villa market and get a piece of real estate in the beautiful by nature country. The opportunity has been crafted by an entrepreneurial government incentive for real estate purchasers with a staggered reduction in stamp duty for the next 3 months to reward investors. F Chambers will support the shepherding of clients swiftly through the process.

The Stamp Duty Waiver on property transfers would be available to all eligible applicants that transact a transfer on or after the 21st September 2020, but before the 20th December 2020.

The Stamp Duty Waiver granted would be as follows:

  • 75% reduction of stamp duty on property valued up to $2 million, made between the 21st September to the 20th of October 2020
  • 50% reduction of stamp duty on property valued up to $2 million, made between the 21st of October to the 20th of November 2020
  • 25% reduction of stamp duty on property valued up to $2 million, made between 21st November to the 20th of December 2020
  • If you decide to sell any investment made that benefits from the above concessions inside 5 years from the date of Closing then you will have to repay the concession amount.

Join an exodus to the Caribbean in the idyllic and less densely populated British Overseas Territory Turks and Caicos Islands. With a population of just over 30,000 spread across an archipelago of islands of 40 low-lying coral islands in the Atlantic Ocean. The pristine beaches are among the most beautiful in the world, boasting stunning turquoise waters and powder white sand. Grace Bay Beach located in Providenciales has become world-renowned as one of the most popular and sought-after tourist destinations.

Why risk your family’s health and wellness when you can choose the option to live in a safer environment. TCI provides the perfect place to sit out the chaos of urban communities and the pandemic, you can work remotely in peace and solace. Fly over from Florida or New York in a few hours by private jet or use the best-connected commercial airlift from North America to the Caribbean. Turks and Caicos Islands has more to offer going forward in terms of quality of life, infrastructure, and convenience than any of the competing jurisdictions. With the US dollar as local currency enjoy a peaceful tax-free lifestyle, the option to move is being granted now.

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