Although the Turks and Caicos is a British Overseas Territory, the US dollar is our main currency. The Turks and Caicos consist of over 40 different islands and cays – yet less than ten are inhibited and three are currently being privately developed. Sustainable tourism, mindful of our natural resources, is our philosophy- yet the business opportunity’s here are as endless as our many miles of beautiful beaches. We are a tourism destination – but one that means business. Indeed the best of the entire world exists here in the Turks and Caicos Islands.
Attracting quality investments that create a sustainable economy for the Turks and Caicos Islands is a major objective of the Turks and Caicos Islands Government. TCInvest (Turks and Caicos Investment Agency) is an independent agency in the islands with a mandate to attract new foreign direct investment, facilitate development, encourage entrepreneurship amongst residents and provide financing to the local population.
Established in 1995, TCInvest is a seasoned one-stop-shop to ease the way for potential investors and guide them through the necessary formalities. TCInvest provides that vital bridge as a facilitator between the investor and government. Its role for the potential investor is to advise and assist on opportunities and policies; screen new investments projects for suitability, feasibility and quality of investor finances; facilitate timely consideration of proposals; negotiate joint ventures and development agreements which qualify for TCI Governments investment incentives.
Tourism continues to be the economic mainstay and the development of world class resorts and condominiums properties in recent years has helped to attract even higher numbers of visitors to the islands. Among these are high–net worth individuals who have invested in real estate and other businesses as well as the burgeoning offshore financial services industry. The islands are a prime investment centre because the government levies, no income or corporate taxes and has no inheritance tax. It is a safe place to invest.
Wise investors come to TCInvest first because the agency creates a “single window” for prospective investors. It makes them aware of the TCI Government “Open Arms” investment policy beginning with the obvious no tax status, efficient administrative system and attractive concessions package. We encourage you to meet with us to discover which opportunities you can uncover in our warm and welcoming islands.
To find out more about the islands, their growth and opportunities, TCInvest has offices in Grand Turk, Provo, New York, Toronto and London. Conrad Higgs CEO explains: “We encourage overseas investors to visit us first, TCInvest can give you a complete portfolio of the services available in the Islands, streamlining the process and putting you in touch with the right people.”
Right now, he says, the TCInvest sees great potential to diversify the Islands’ economy in areas such as retail, communications, medical services, green business such as recycling, green technology, mari-culture such as lobster and shrimp farming and light manufacturing. A number of local IT firms offer high-end services including software development, web hosting and e-commerce, proving to be an ever-growing and fruitful market. Undaunted by the fall hurricanes of 2008 or the global economic downturn, the unique, elite charms of investing in the Turks and Caicos Islands are growing with opportunity.
TCInvest, Grand Turk: Tel: 1(649) 946 2058 (F): 1(649) 946 1464 Providenciales: Tel: 1(649) 946 4804 (F): 1(649) 941 8712 www.tcinvest.tc