The Turks and Caicos Islands (TCI) is a British overseas territory and despite the recent global events enjoys one of the more dynamic economies in the Caribbean. With a robust and speedy approach to COVID 19, TCI recorded limited cases and only one recorded death. TCI prosperity will rebound quickly with great potential and is largely untapped for the luxury retirement market.
Emerging from the COVID 19 global pandemic the TCI is positioning itself as islands very much open for business, as the world opens back up. The TCI Government approved a full package of benefits for the initial period of April 1 to June 30, 2020 with a review of the same after. This serves as a direct economic stimulus following the fall out in economic activities across the Islands. The stimulus package is planned to lessen the impact of the global crisis on residents, whilst allowing the Ministry of Health to strengthen health policy responses and assist the economy with boosting inward investment:
Included in the stimulus package, as it relates to real estate, are the following initiatives and exemptions for a three-month period:
- Reduction of 50% in Stamp Duty
- 50% of reduction of planning fees
- A waiver of Customs Duties on Construction Materials
It is now a great time to invest in TCI.
TCI is the jewel of the Caribbean and stands out amongst the neighbours as a model world, safe and peaceful with a robust legal system with its adherence to British Common Law and a strong Judicial system. With an efficient structure, a currency pegged as the USD dollar with no currency control, no taxation, a wellness environment on alkalising coral stone and the world best golf course east of Florida. TCI is incentivizing as a prosperous and desirable spot for your safe future, second home or retirement.
With a proven track record our experienced team of Attorneys at F Chambers crafts the TCI raison d’être to help your retirement in paradise become a reality. At F Chambers we are to open to a dialogue on economic stewardship in the TCI with efficient use of resources for wealth creation and preservation for the next generation. The phenomenon; a viable strategy for global investors and a portfolio that is sustainable and efficient for your retirement.