Turks & Caicos

Land Area: 
238 sq miles
Population: 
49,000
Language: 
English
Capital: 
Cockburn Town in Grand Turk
Location: 
600 miles from Miami on the South-East of Bahamas island chain

BEAUTIFUL BY NATURE

The beautiful Turks and Caicos Islands are located southeast of the Bahamas and within easy reach of the American mainland. Renowned for its long and unspoilt beaches, its cays and crystal clear turquoise waters, it has always been a big favourite with sailors and naturalists as the islands are idyllic and sparsely populated. It is widely accepted as one of the great diving areas in the world with its famous long reef packed with marine life.

Over 40,000 people live on the islands including visitors, mainly centred on Providenciales, the largest city. There are eight larger islands, but over 300 in total making it a serene location for cruise ships and a popular location for the rich and famous.

Prior to global economic decline Turks and Caicos was seen as one of the Caribbean’s brightest property “Hot Spots” and the natural extension of the Bahamas, which has long been a popular second home destination for North Americans. But the general decline in the second home market over the past six years and some high profile scandals dimmed the location’s bright lights and like many other destinations Turks and Caicos is fighting hard to get back up the Caribbean real estate popularity ladder.

There are no restrictions on foreign buyers and the sales process is similar to most other locations. Stamp duty varies on location and price with properties in Providenciales for example rated at 10% of purchase price dropping to 6.5% elsewhere. Some of the most prestigious properties on the islands are in the “Provo” area overlooking the world famous Grace Bay Beach. But striking scenery abounds everywhere and there are many other spectacular settings to rival the capital.

Turks and Caicos offers some attractive tax concessions and citizen packages for those who invest in the territory. The main industries are Tourism, Offshore Financial Services and until recently real estate. US visitors account for over 50% of tourism arrivals and there are daily flights to and from North America and Europe.

The Turks and Caicos is a British Overseas Territory and is has experienced some high profile political scandals in the last decade. However, the political landscape has settled and a big thrust is being made to attract overseas investment, second home buyers, financial services business and tourism arrivals, especially from the lucrative cruise ship industry. 

Subscribe to RSS - Turks & Caicos
© 2017 Caribbean Property Magazine | Barbados web design by Caribbean New Media