TCREA/Hamilton Real Estate Agent
Welcome to the TCI. I am excited to take you on an amazing journey, whether purchasing, selling, information gathering or where to stay until. Armed with a wealth of experience in hotel and resorts, my eye for detail and interior design, ignites my imagination and creativity. I recognise and value the trust my clients place in me and I strive every day to exceed their expectations. Whenever you are ready, let’s talk. Featured internationally on HGTV Caribbean Life!
WHY INVEST IN TURKS AND CAICOS?
CLOSING COSTS AND STAMP DUTY CALCULATION
Before viewing houses, condos or raw land, determine your budget taking into consideration the one time government stamp duty which is a percentage of the sale cost. See below the current duties as of September 2020:
TURKS AND CAICOS STAMP DUTY FEES APPLY TO ALL ISLANDS:
Did you know that here in the Turks and Caicos there is no Property Tax? In lieu of this, the purchaser pays a one time Government Stamp Duty on the real estate purchase. This amount is payable to the Turks and Caicos Government at Closing and is a percentage of the “value” of the property transferred (as opposed to the price paid). The applicable stamp duty rate depends upon the value of the property transferred and the island where it is located.
STAMP DUTY RATES: Effective June 1, 2013
– GRAND TURK
– SALT CAY
– SOUTH CAICOS
– MIDDLE CAICOS
– NORTH CAICOS
25,000 – 100,000. 5.0%
ABOVE 100,000 6.5%
– WEST CAICOS
– EAST CAICOS
25,000 – 250,000 6.5%
250,001 – 500,000 8.0%
ABOVE 500,000 10.0%
Note: stamp duty rates are subject to change. Prospective purchasers should take legal advice in all cases to obtain an up to date estimate of stamp duty rates applicable.
Sale of Shares in Land Holding Companies
There is a stamp duty payable upon the transfer of shares of corporations owning real estate in TCI, your attorney will provide this information.
Additional reading: https://gov.tc/landregistry/resources/legislations