A Guide to Buying Property in Turks & Caicos for Foreign Buyers
Offering world-class beaches, an unrivaled lifestyle and some of the best homes for sale in the Caribbean, the Turks & Caicos Islands has a flourishing luxury real estate market.
If you are currently considering investing in real estate in Turks & Caicos but you are wondering “where are the best places to buy property in Turks & Caicos?” or “how do I go about owning property in Turks & Caicos as a foreign buyer” then this guide is for you.
Our guide takes you through the process of buying property in Turks & Caicos from beginning to end, including an introduction to the real estate market, the buying process and the taxes you will need to be aware of.
Overview – The Turks & Caicos Real Estate Market
Comprised of 40 islands and cays with 230 miles of pristine white sand beaches and beautiful coral reefs, the Turks and Caicos Islands is one of the most alluring destinations in the Caribbean. The archipelago may be most famous as the setting for “the best beach in the world” – Grace Bay Beach. However, it also offers an intoxicating mix of stunning natural beauty, sophisticated infrastructure, high-quality hotels, and an attractive tax environment.
This combination has created a strong foundation for economic growth, a rapidly expanding tourism sector and a vibrant property market. In 2018 the Turks & Caicos real estate market expanded by 9.5%, with significant increases in sales of both detached homes and condos.
As a British Overseas Territory with a US Dollar-based economy located just 75 minutes from Miami, the Turks and Caicos Islands is widely perceived as a secure destination for investment. It has established itself as a firm favorite with American, Canadian and British property investors.
Like Anguilla, the BVI and the Cayman Islands (all of which are British Overseas Territories), the Turks and Caicos Islands offers spectacular luxury beachfront homes for sale in some of the world’s most prestigious property developments and private island resorts. Areas of particular interest include Providenciales, (Grace Bay, Long Bay, Chalk Sound), Pine Cay, Parrot Cay, Middle Caicos and South Caicos.
Buying Property in the Turks & Caicos Islands
Can foreigners buy property in Turks & Caicos?
Yes, foreigners can buy property in the Turks & Caicos Islands and the Government of the Turks & Caicos Islands welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in the Turks & Caicos Islands and, unlike in other destinations in the Caribbean, foreign buyers do not require any kind of license or permit to purchase property. Property can be purchased by an individual or corporation.
Buying property in Turks & Caicos is a relatively simple process, which typically involves the following steps:
- Begin your property search.
- Find your perfect property and make an offer.
- Once accepted, engage an attorney to review the Sales Agreement.
- Upon signing the Sales Agreement, you will need to pay a 10% deposit.
- Pay balance upon closing.
- Pay all required taxes and fees.
Attorney’s fees typically amount to 1 to 2% of the purchase price.
Buyers are responsible for paying stamp duty which varies according to the location and value of the property as follows…
In Grand Turk, Middle Caicos, North Caicos, Salt Cay and South Caicos:
- Property valued at $25,000 to $100,000: 5%
- Property valued at over $100,000: 6.5%
In Providenciales and all other locations excluding the above:
- Property valued at $25,000 to $250,000: 6.5%
- Property valued at $250,000 to $500,000: 8%
- Property valued at over $500,000: 10%
Search Turks & Caicos Real Estate Listings
As specialists in luxury Caribbean property, we can introduce you to a wide selection of the finest residential property in Turks & Caicos.
Homes for Sale & Condos for Sale
Land for Sale
You can also browse undeveloped land. Purchasing a lot of land provides you with a blank canvas and the opportunity to build your dream home in Turks & Caicos.
Whether you are looking for beachfront land or a centrally located lot, we’re here to help you find the perfect lot of land for sale in Turks & Caicos.
For larger parcels of land for commercial development, please see our commercial real estate listings.
Hotels for Sale
Searching for hotels for sale in Turks & Caicos? Browse hotels, B&Bs and guests houses right here.
Finding the Perfect Property for Sale in Turks & Caicos
Discover the most sought after real estate investment opportunities and benefit from unrivaled insight into the market.
To find your perfect property in Turks & Caicos, search our Turks & Caicos real estate listings.
Best Places to Buy Property in Turks & Caicos
Discover Providenciales – Read our guide to buying property in Providenciales.
Discover Chalk Sound – Read our guide to buying property in Chalk Sound.
Discover Grace Bay – Read our guide to buying property in Grace Bay.
Discover Leeward – Read our guide to buying property in Leeward.
Discover Long Bay – Read our guide to buying property in Long Bay.
Discover Sapodilla Bay – Read our guide to buying property in Sapodilla Bay.
Discover Turtle Cove – Read our guide to buying property in Turtle Cove.
Areas – Other Islands
Discover Grand Turk – Read our guide to buying property in Grand Turk.
Discover Middle Caicos – Read our guide to buying property in Middle Caicos.
Discover North Caicos – Read our guide to buying property in North Caicos.
Discover Parrot Cay – Read our guide to buying property in Parrot Cay.
Discover Pine Cay – Read our guide to buying property in Pine Cay.
Discover Providenciales – Read our guide to buying property in Providenciales.
Discover South Caicos – Read our guide to buying property in South Caicos.
Discover West Caicos – Read our guide to buying property in West Caicos.
Turks & Caicos Residency
How long can a foreign citizen stay in Turks & Caicos?
Citizens of the USA, Canada, UK, and many countries in the Caribbean are permitted to remain in Turks & Caicos on holiday without a visa for up to 90 days.
How do I become a resident of Turks & Caicos?
Individuals looking to stay longer than 90 days in Turks & Caicos can apply for an extension.
According to Section 13(2)(k) of the Immigration Regulations 2016, individuals investing in a home in Turks & Caicos may be eligible to apply for a Permanent Residence Certificate (PRC). The minimum required investment level is US $300,000 in the case of Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos and US $1,000,000 in the case of other islands such as Providenciales. The Certificate allows the applicant (and his or her spouse) to become a permanent resident of the Turks & Caicos Islands. To apply, applicants are required to submit an application form, provide proof of ownership of qualifying property and make payment of a fee of $25,000 for the Permanent Residence Certificate plus a non-refundable administrative fee of $150.
How do I become a citizen of Turks & Caicos?
Individuals who have lawfully resided in Turks & Caicos for 5 years (and held a Permanent Residence Certificate for 12 months) can apply for citizenship by naturalization.
Mortgages in Turks & Caicos
Looking for financing to fund the purchase of property in the Caribbean?
Contrary to popular misconception, it is possible for foreign nationals looking to invest in Turks & Caicos real estate to apply for a mortgage.
Our partner – a very well respected international financial organization – offers mortgages for qualifying non-residents buying, building or improving a second home in the Turks & Caicos Islands.
For more information, see our page on: Caribbean mortgages.
Sending Money to the Turks & Caicos Islands
You could save money when investing in Turks & Caicos real estate by using a foreign exchange expert to get the best rate for your property purchase. We have partnered with Halo Financial, a specialist in foreign exchange, to help you get the best exchange rates when making one-off or regular international payments for a property purchase in the Turks & Caicos Islands. To see how you could save money, read more: Foreign Exchange.
How to Get to Turks & Caicos
Various airlines operate direct flights to Turks and Caicos from cities across the United States and Canada.
From the USA, there are direct flights to Turks and Caicos from Atlanta (Delta), Boston, New York and Miami (American Airlines), Charlotte and Philadelphia (US Airways). From Canada, there are direct flights from Montreal (WestJet), Halifax, Ottawa and Toronto (Air Canada).
From Europe, fly to Miami Airport and take a connecting flight to Providenciales in the Turks and Caicos Islands.
Atlanta to TCI: 2 hours
Boston to TCI: 3 hours 15 mins
Charlotte to TCI: 2 hours 15 mins
Miami to TCI: 75 mins
New York to TCI: 3 hours
Toronto to TCI: 3 hours 30 mins