Buying Process

Purchasing real estate in the Turks & Caicos Islands is a simple process. Some details you should know:

• There are no restrictions on foreign property Ownership. Land titles are held personally or in a Trust or corporation.
• Property investors at Blue Cay are entitle to apply for a residency permit.
• There is no land/asset holding tax, thus investors would not carry any on-going tax burden. Furthermore, there is no corporate, capital gains or inheritance tax.  The only taxes currently in place are regular import duties on items brought into the country and a one-time Stamp Duty on real estate acquisitions.
• There is a Home Owners’ Association (HOA) in place at Blue Cay Estate, which is designed to maintain a high quality development in the long run. HOA fees cover refuse collection, common area maintenance and security monitoring.
• Blue Cay provides distinguished home designs perfectly suited to the stunning site. The development team secures the highest standard of construction without the time consuming and challenging task of managing it yourself. As our construction team is mobilized on site and can take advantage of economies of scale, we are able to offer superior quality at reasonable prices. Architectural design, engineering and permitting costs for the villa designs are included in the turn-key prices.
• The actual purchase process is simple: A Purchase and Sales Agreement (PSA) for the selected homesite is executed between the Developer and the purchaser. A separate construction agreement is executed at the same time covering all aspects of the design and construction of the villa. With execution of the PSA a 10% land deposit is required. The remaining 90% of the land value become due with land title transfer to the buyer.

The purchase of the homesite in Providenciales is subject to a one-time stamp duty tax payable by the purchaser, which is 10% of the land value.

While it is a simple process, we recommend that the purchasers retain local legal counsel to support them. We can provide recommendations upon request.