Home » Turks and Caicos Islands Investment Immigration

Turks and Caicos Islands Investment Immigration

Turks and Caicos Islands Investment Immigration

Turks and Caicos Islands Investment Immigration

Minimum Investment

The applicant can obtain permanent residence in the Turks and Caicos Islands by fulfilling the following investment requirements.

1. Real Estate Investment

The applicant must either construct a home or renovate a distressed property and use the same as his or her principal residence in the Islands. The minimum investment amount varies depending on the island on which the real estate investment is made.

Region Investment Amount
Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos $750,000
Any other island including the main island of Providenciales $1.5 million

This option does not entitle the applicant to the right to work in the country. The applicant will automatically become eligible to engage in gainful occupation after residing in the Islands as a permanent resident for a period of ten years.

 2. Business Enterprise

The applicant must invest in a business or enterprise and ensure that at least 60% of the employees don’t require work permits to work in the enterprise. The enterprise must give preference to Islanders when hiring employees to ensure maximum economic benefits for the Islands and its residents. The minimum investment amount varies depending on the island on which the enterprise is established.

Region Investment Amount
Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos $750,000
Any other island including the main island of Providenciales $1.5 million

The applicant is granted the right to engage in gainful occupation when obtaining permanent residence under this investment option.

Inclusion of Family Members

The following family members are entitled to permanent residence along with the applicant:

  1. Spouse
  2. Dependent children aged less than 18 years.

The Permanent Residence permit issued to the applicant is valid throughout his or her life. There are no residency requirements applicable to the holder of the Permanent Residence certificate. The permit lapses upon the death of the primary applicant. The applicant’s spouse can seek Permanent Residence separately after the holder’s death.

Minor children lose their permanent residency status upon becoming majors. They can apply for PR status in their own right upon attaining the age of majority.

Documents

The applicant must submit the following documents along with the Permanent Residence application form:

  1. Birth certificate
  2. Passport
  3. Medical certificate
  4. Marriage certificate
  5. Proof of compliance with the investment requirements.
  6. Proof of ownership of adequate financial resources
  7. Police certificate as proof of clean character
  8. Proof of educational qualifications

Fees

Non-refundable Processing Fee $1,500
Refundable Processing Fee $23,500
Government Fee for spouse $200
Government Fee per dependent child $200

Taxation

There holder of the permanent residence permit is entitled to claim to be tax-resident of the Islands by virtue of having his or her principal residence in the country. The applicant need not pay any income tax, capital gains tax, or tax on inheritances in the country.

The only taxes and levies imposed on the applicant are:

  • Government tax at 12% on rental income.
  • Stamp duty/transfer tax of 6.5%-10% upon purchase/sale of real estate.
  • Import duty of 33%-45% of a car’s value when importing the same into the Islands.

Don’t hesitate to contact us for a free consultation by calling us (514) 487-2011 or click on Free Investor Evaluation

Free Investor Evaluation