Turks and Caicos Real Estate

Sales Office: Grace Bay Rd, Leeward Settlement TKCA 1ZZ, Turks and Caicos Islands. (In the Regent Village) Emailsales@gracebayrealty.com  Tel649-941-4105

Skype: GraceBayRealty

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  • 3rd Longest Coral Reef in the World

  • 70 Minutes Southeast of Miami

  • Any Nationality May Purchase and Hold Title

  • Beautiful Water Color

  • British Dependent Territory

  • Eco Tours • Endless Water Sports

  • Excellent History from Bad Weather

  • Freehold Title

  • Golfing, Sports, Horse Riding

  • Great Road Infrastructure

  • Modern Amenities

  • No Capital Gains Taxes

  • No Income Taxes

  • No Property Taxes

  • No Title insurance Required

  • One of the Lowest Crime Rates in the Caribbean

  • Perfect Beach Sand

  • Real Estate Title is Guaranteed by the Crown

  • State-of-the-Art Telecommunications

  • Title Can be Held in a Local Company or Trust

  • Vibrant Economy

  • World-Class Spa

  • Year Round Sunshine & Trade Winds

What makes a great island real estate investment

  • Location

  • Uniqueness

  • Limited Supply

Best capital growth category (on average) with shortest DOM?
  • Beach Front (smallest)

  • Ocean Front

  • View

  • Waterway

  • Inland (largest)

TCI tips
  • East side more breeze, west side more afternoon sun.

  • Compare pros and cons of resort vs residential.

  • Review Strata Corp. financiales for reserve fund.

  • If renting consider the number in category.

  • Consider the equality of view and wealth.

  • Who did the developer build for?

  • Require certificate of occupancy (CO) and expense/income history.

  • Require land survey with dimensions, and boundary marker certificate.

  • Consider the number of vacant lots similar as future self-build competition..

WHY INVEST IN TURKS AND CAICOS REAL ESTATE?

Turks and Caicos consists of 40 different islands and cays, only 8 of which are inhabited. The beaches on this island chain are pristinely beautiful thanks to the third-largest coral reef system on the planet. The reefs surround Turks and Caicos, protecting the beaches from ocean surges and keeping the coastal blue calm and clear. Grab some SPF and a pair of shades, we’re taking you to Turks and Caicos’ best beaches.

 

Widely known for its pristine white sandy beaches and turquoise waters, Turks and Caicos is the real estate investors’ dream come true. Settled along the third largest coral reef system in the world, the forty small islands and cays that comprise this island archipelago boasts endless water sports, world-class golfing, horseback riding, Eco-adventures for outdoor enthusiasts, along with a relaxing island lifestyle.

 

With year-round sunshine comes Turks and Caicos’ vibrant economy, from a booming tourist industry, which features, epicurean restaurants, exotic spas, and luxurious accommodations; to a rich afro-centric culture that makes investing in Turks and Caicos a gratifying experience. The islands anticipate a 5.3% growth in its economy in 2018, which continues the trend of upward growth the islands of paradise have experience since 2015.

 

Situated 70 minutes south-east of Miami, Florida, the islands provide easy access to travellers with up to 150 direct flights from the United States and Canada, with two flights, weekly from the United Kingdom. Turks and Caicos offer prime undeveloped land ideally suited to tourism and residential development, making the opportunities, in this tropical oasis, seem endless.

STAMP DUTY

When purchasing property in Turks and Caicos an additional cost to be aware of is Stamp Duty. As there are no property taxes in the island community, government tax is collected at the time of purchase. Stamp Duty isn’t necessarily a small cost, but when factoring in what property tax would have cost over the years, it is a very fair trade-off, especially if you intend to keep your property for an extended period of time.

 

Stamp Duty can fluctuate depending on the current economic state, with dips in tax costs during times of recession to motivate buyers to purchase. The current tax rates in Providenciales are as follows:

Providenciales, West Caicos and Parrot, Pine and Ambergris Cay 

6.5% = between $25k and $250k

8% = between $250k and $500k

10% = over $500k 

 

North, Middle & South Caicos and Grand Turk & Salt Cay 

5% = between $25k and $100k

6.5% = over $100k

Please Note: Stamp Duty is paid only on the purchase amount less the Chattels

 

These numbers may be lower on other islands in the Turks and Caicos community. As Stamp Duty is an upfront cost buyers need to include this amount when considering their purchasing budget.

 

 

DUE DILIGENCE REQUIRED FOR TURKS AND CAICOS REAL ESTATE FOR SALE?

Here's a list of items required to purchase Turks and Caicos Real Estate:

1. A notarized copy of the picture page of your passport.

2. A notarized copy of your driver’s licence.

3. A reference letter from your bank or other financial institution addressed to (Grace Bay Realty or your TCI attorney), Providenciales, Turks and Caicos Islands indicating how long such financial institution has been providing banking services to you, that the banking relationship has been satisfactory and that the financial institution has no reason not to recommend you as a person with whom to do business (or words to that effect – sometimes the banks are fussy about what they will and will not say).

4. A reference letter from a professional (lawyer, accountant, doctor, etc.) addressed to Grace Bay Realty or your TCI attorney)  Providenciales, Turks and Caicos Islands indicating how long such professional person has known you, the connection between you, that such professional person considers you to be respectable and trustworthy, and recommends you as a person with whom to do business (or words to that effect).

5. A copy of a bank statement, credit card statement or household bill, no older than 3 months, addressed to you at your home address, as a confirmation of your address.​