Why Turks & Caicos Real Estate?
The Real Estate Market is Booming here in Turks & Caicos making these Beautiful by Nature Islands prime investment opportunities. Whether you are looking to purchase a private home, private beach villa, condo, vacant land or residential land we are here to guide you every step of the way.
Our trusted Real Estate Consultants will guide you through the process:
The First Step:
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Finding Your Dream Property
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We have the use of the MLS Systems here in Turks & Caicos allowing us access to all of the properties that are on and even off the market. We provide you with key insights into what taking place in the market.
Once you have found your piece of paradise, we start the process of drafting a Preliminary Agreement. This document outlines the price and basic terms and conditions of the offer. Both you the buyer and seller will sign, accepting the terms. Closing periods are normally 30-60 days unless other terms are agreed upon by both parties.
We recommend both parties (the buyer and seller) to hire a local Attorney to represent and guide them through the due process. Attorney fees are normally 1-2% of the cost of the property being purchased as well as depending of the level of complexity of the agreement.
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A security deposit of 10 percent of the property costs will be required and will be held “In Trust” by the buyers Attorney. A valid copy of the buyers Passport and Driver’s License is mandatory.
Once the final set of documents are signed and exchanged, and the forms filed at the Land Registry, the property will be transferred. Once this has been completed we move towards the closing and the buyer receives a Certificate from The Turks & Caicos Government Land Registry with their names listed, making them the legal owners of the property.
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Taxes:
We are happy to announce that there are no annual taxes, no income tax, capital gains tax, property tax, inheritance tax, or corporation tax in the Turks and Caicos Islands.
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One Time Government Stamp Duties Taxes
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Transactions more than $25,000-$250,000. 6.5%
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More than $250,000-$500,000- 8%
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More than $500,000 10%