Windsong's Rental Management Program offers investor's peace of mind know that rental operations are handled professionally and fairly so that all owners enjoy consistent, quality rental management of their investment. Below are some of the most commonly asked questions about Windsong's rental operations. Click here for RESIDENCE PRICING.

Rental Operations

Frequently Asked Questions

A stunning turquoise sea, world-class beaches and wide array of outdoor activities aren’t the only benefits to investors in Turks and Caicos. As a British Overseas Territory, Turks and Caicos is a stable Caribbean country with no restrictions on foreign property ownership. Financing and insurance are available to new arrivals. Below are more reasons Turks and Caicos appeals to real estate investors. Strong Economy: Sovereign Credit Rating of BBB+, sold annual growth rates and the US dollar as the national currency.

Good Investment Climate: No direct corporate, personal, capital gains or inheritance taxes.

Strong Legal System: A British Dependent Territory with an effective judicial system based on English Common Law.

Close Proximity to the US: Miami is 1.5 hours by plane; New York is 4 hours.

Easy Access: Extensive direct air routes, including twice-weekly flights from UK and over 150 weekly flights to and from US and Canadian cities.

Quality Healthcare: Providenciales has a well-managed hospital and qualified medical professionals.

Residency Opportunities: Temporary and Permanent Residence status are available to qualified investors.

Real Estate Transaction Fees

Legal Fees

Each party is typically responsible for its own legal fees; 1% of the sale price is a good budget number. There is no title insurance program so the attorney researches title as part of the fee.

Incorporation Fees

Many investors prefer to hold real estate anonymously in a Turks and Caicos Islands Corporation or Trust. Corporate set up fees are about $2,500, then $1,200 annually. This includes administration, government fees, nominee shareholders, corporate secretary, annual filing and preparation of minutes, as required by law.

Mortgages

Terms and rates vary by applicant. Banks will lend 50% to 75% of property value for up to 20-year terms. Current rates are around 7%. Private mortgage money is also available.

Stamp Duty

It is customary for the Buyer to pay stamp duty. Stamp Duty Ordinance: Effective July 1, 2013 The Turks and Caicos Islands implemented a stamp duty structure for property sales in Providenciales. The rate structure is shown below.

Purchase Price Duty Single Pay  

  • $250,001 - $500,000 -- 8.0%
  • $500,000 or greater -- 10.0%
  • Stamp Duty does not apply to personal property.

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