Purchasing a property can be one of the most stressful
experiences in life, especially when also contending with a foreign
country and unfamiliar jurisdiction. However, purchasing your dream
property on a paradise island may not be as complicated or scary as
you think. We have set out below a guide to the main steps involved
when purchasing a property in the Turks and Caicos Islands
("TCI").
No restrictions on foreign ownership
The good news is that there are no restrictions on foreign
ownership of land or properties in TCI. However, if you want to
take title to the property in a company, rather than your personal
names, you must set up a TCI incorporated company to do. There is
no issue with having the TCI company as a fully owned subsidiary of
a foreign company, such as a US LLC. We can assist you with this
process through our affiliated corporate service provider, G&P
Corporate Services Ltd.
