Turks and Caicos
REAL ESTATE BUYING GUIDE
The Turks and Caicos Islands, through its status as a British Overseas Territory, is a stable Caribbean country, and there are no restrictions on purchasing real estate in the country by foreign individuals. However, if the owner is not an individual, the land must be held by a local corporation or trust (foreign corporations cannot own land directly). It's not required to obtain permission from the Government beforehand.
Islands and Price
The Shore Club, located on beautiful Long Bay Beach, Providenciales.
Real estate price varies considerably based on island and location. As expected, beach-front properties demand a premium. Providenciales land is significantly more expense than other islands, and the differences in government tax reflects this.
Taxes and Fees
The following fees are typically applicable:
Stamp duty of 0-10% is payable to the government (paid by purchaser).
Real estate agent's fee is between 6-10% (normally paid by seller). 6% for developed parcels, 10% for undeveloped parcels (commission rate set by local real estate association).
Additional legal fees will be payable.