real estate turks and caicos island

Turks and Caicos


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.

Stamp Duty Rates

For properties under $25,000, no stamp duty is charged. There are exemptions on property conveyances as gifts to a spouse, parent, or child. On conveyances to brother, sister, grandparent, or grandchild, the Permanent Secretary of Finance to certify that the gift is not for valuable consideration (in order to obtain a 0% rate). The tax band applies to the whole value, not the difference between bands. For example, a purchase on Providenciales of value $245,000 incurs stamp duty of $15,925 (6.5%), whereas a purchase for $255,000 incurs a stamp duty of $20,400 (8%).

real estate turks and caicos island

Purchase Considerations

It's possible to purchase real estate without having any sort of legal permission to reside in the country. In the past, it has been possible to obtain (mostly) automatic Permanent Resident Certificates (PRCs) depending on the purchase price (which varies depending on the island).

If you are considering purchasing land, you are highly advised to confirm what status you will receive. Depending on the purchase price, you may be eligible for a Permanent Resident Certificate (PRC), a 25-year residence permit, or nothing.

Foreclosures and Defaulted Property Sales

Vacant property and house bank foreclosures sales due take place occasionally in the Turks and Caicos, and the purchase of these properties are typically conducted on a closed bid process with by financial institutions. Contact the local banks for a listings and availability.