Morris Cottingham Office Building

Citizenship and Residency 

 

A distinct advantage of the Turks and Caicos Islands over other off-shore financial jurisdictions is the open immigration policy practised by government.

There are three categories under which a person may reside in the Turks and Caicos Islands.

  • A Residence Permit is issued for a nominal fee to those who are not gainfully employed, provided proper arrangements have been made for accommodation. Applicants must have the intent to reside in the islands and demonstrate their ability to support themselves.
  • A Work Permit may be issued to those who qualify to engage in an occupation for gain. The issuance of the work permit for a prescribed fee entitles the holder and his family to reside in the islands.
  • A Permanent Residence Certificate may be issued to those who have either invested US$250,000 in the islands as an approved investment, or are members of a profession, trade or business and have resided in the islands for a minimum period of four years. A work permit is required to have been held throughout this period and the applicant must own a dwelling house at a valuation of not less than US$150,000.
  • Naturalisation may be considered by Government for those who have resided in the islands for five years and who hold a Permanent Residence Certificate.

   

 Investment Opportunities 

 

Tourism is the most prominent economic activity in the Turks and Caicos Islands.  Accordingly opportunities in the Islands for investment in tourism related activities and services are excellent.  With the emergence of an ever expanding hotel and high end condominium development market and expanding Cruise Ship and passenger support services industry the Tourism Industry has been the engine of growth for the Islands for decades.  Other areas of potential business activity include mariculture, farming, light industries and service industries generally. 

The Morris, Cottingham group is well placed to provide services in this area including:

  • Negotiating and drafting contracts for real estate transactions.
  • Assistance in negotiating leases and obtaining concessions and other rights from government.
  • Conveyancing and escrow services.
  • Financial and accounting management of projects at planning, construction and operational levels.

 

 

 

 

ASSOCIATE OF THE LEADING INDEPENDENT AUDIT AND ACCOUNTANCY FIRMS WORLDWIDE AND AN AFFILIATE OF THE MORRIS, COTTINGHAM GROUP OF FINANCIAL SERVICES COMPANIES
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