Two years ago, the world stopped. Cities stood still and many realized that privacy and the ability to seclude oneself in beautifully modern, sun-kissed holiday homes are the new signpost of true wealth and freedom. The discerning home buyer discovered that the loud, never-ending traffic, overcrowding and the price premium in global cities were no longer alluring and owning bespoke luxury real estate in accessible offshore markets became both a strategic investment and lifestyle enhancement decision.
Fast forward two years, the Caribbean’s best kept real estate secret- the Turks and Caicos Islands, is no longer a secret. The real estate offerings in the Turks and Caicos Islands continue to be highly sought after and with year-on-year record sales as buyer interest outpace available inventory.
As an offshore first, second or third home, the TCI is uniquely placed. Situated just south of the Bahamas, and less than 4 hours from major U.S transport hubs, sporting year around sunshine and trade winds, modern amenities, diverse fine dining, world-class spas, and wellness retreats, all without the tax resident burden – Yes, the TCI is uniquely placed.
As the Caribbean Travel Awards’ 2021 Luxury Destination of the Year, the Turks and Caicos Islands, has enjoyed increasing property values, boast an open policy of land ownership guaranteed by the British Crown, with no property or inheritance taxes for ease of property ownership. However, there is stamp duty paid each time ownership is transferred, that pays to maintain the Torrens Land Registry system so no title insurance is required. It is a percentage paid only on the purchase amount less the chattels on real estate purchases made in the country, see detailed overview here.
There is a peace associated with owning and not worrying about exorbitant taxes. Package that with a short 70-minute flight from Miami, and no visa requirements for U.S and Canadian citizens. The stable environment of the TCI has allowed the discerning home buyer to both “have their cake and eat it too”; all with the option to their favorite cocktail on pristine uncrowded beaches.
Like all things, investing in offshore real estate requires a skilled team. In the TCI, such a team is led by a fantastic real estate company along with a local attorney to facilitate all legalities. As a leading real estate broker in the TCI for 20 years, the well-versed team at Homes in Paradise by Grace Bay Reality will ensure to understand your specific investment and lifestyle needs, thus achieving the best value for your money. Developing the relationship part of your journey begins here, or if you are on island, at the Regent Village in Grace Bay.
Meeting you will be our esteem pleasure (virtually or in person) and provide the opportunity to walk you through the details of the Buying Process here.
Sign up for direct access to the local MLS and find your happy place here.