Time to buy some land…..?

Time to buy some land?……

There are some GREAT development opportunities here in the Turks and Caicos Islands, where land is available for development on both small are large scales. The plot above, for example, is 6 acres, in a good area and can be sub-divided into a number of smaller plots. Middle and North Caicos have plots, some of which have amazing beachfront, are plots that one can only dream about. A smaller plot, in the same are, just 200 yards or so from the beach can be yours for under $30.000! Kew is just lovely, with agriculture as a basis for the economy there, with new vigor in the community for further development. A small plot, in a residential area may be just what you are looking for with potential to put a small home on. Check out this link for some building ideas from a local builder, all designed to build at a fixed price. Keep it simple.

For those that want a good acre on the beach with a home that just needs final fittings and painting externally, check out this link. For those that want plots of 4 acres or so, check out this link.

Check out this link for more land opportunities here in lovely Turks and Caicos Islands

Here is an interesting article, written by Owen Foley, a local Attorney who recently published the excellent news that the tax on new investment on property had been reduced. This is published with his permission.

During the years of the recent property and development boom in the Turks and Caicos Islands (TCI), stamp duty on the real estate transactions became a substantial contributor to Government coffers. All real estate transactions in TCI are subject to stamp duty at varying rates depending on the size of the transaction and on the island on which the real estate is situate. In most cases, stamp duty is charged at the rate of 9.75% of the consideration passing.

Most real estate in TCI is held in the name of closely-held, sole purpose vehicles. During a previous real estate boom (in the late 80s and early 90s), the structuring of real estate transactions as acquisitions of equity interests in holding companies became commonplace as a stamp duty avoidance mechanism. To close this loophole, TCIG enacted (in 1992) the Land Holding Companies (Transfer Duty) Ordinance which effectively imposed a tax at the rate of 8% on any transfer of equity in a TCI land holding company. The definition of land holding company was so broad that it covered all parent entities (wherever situate) and the definition of transfer included not just a transfer in the conventional sense but also a new issue of shares in a TCI land holding company.

The tourist industry is a major component of the TCI economy and many of the biggest contributors to Government tax revenues are resort-owning companies, which fall within the definition of land holding companies under the 1992 law. In the recent past, the TCI Government has been concerned that those entities have been prejudiced in their efforts to raise new capital by the effective tax imposed on the issuance of new equity, under the 1992 Ordinance, and that this was forcing some into unacceptably high levels of debt. In consequence, the TCI Government has now announced new measures to ensure that the issuance of new equity in TCI land holding companies is taxed not at the old 8% rate but rather at a nominal 0.2%.

A little unusually, the change has been introduced in advance of a formal amendment of the 1992 Ordinance. The TCI Government has said (by implication) that it will use its residual powers to waive tax that would otherwise be payable, pending introduction of a statutory amendment. The policy rationale is that the tax reduction is needed now and not in 3 or 4 months time when an amending statute might have worked it way through the legislative process.

The new provisions will apply only to the issuance of new equity in parent land holding corporations and not in subsidiaries even if those subsidiaries are the ones that directly hold the real estate. The duty of 0.2% will be charged on the face value of the newly issued shares. Thus if ResortCo Limited, the parent of a wholly-owned TCI land holding subsidiary, issues new shares with a face value of $10m, the duty payable will be $20k. Previously that duty would have been charged at the rate of 8% of the value of the group’s TCI land holdings, multiplied by the percentage of the total issued capital represented by the new share issuance. As can be seen, the tax reduction is very significant.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

This is a bit more like it!

There has been a surge of traffic in Turtle Cove of late and it is nice to see the super yachts returning after months of quite. Although the season is well underway, only now we are seeing more traffic and tourists as confidence grows and holidays kick in. Around our new office in Grace Bay there are many more tourists shopping etc, which is good to see. This view is from The Yacht Club where there are several units for sale. Here is a link to one. The website has had a face lift and is much cleaner in style, with a new set of pages for those that would like to have a pre-designed home built. Just find that plot of land and slip in a home.. the idea is to make things as simple as possible, within set budgets – nice and clear.
The new office looks grand and our posh signs light up at night announcing our presence. We have been busy working on a charity auction set for the end of the month, all money raised to go to the Salvation Army Haiti appeal. This terrible tragedy, only a hundred and fifty or so miles away will long need support so we are doing what we can to help. There are some lovely pieces of art work which can be “bid for” on line, and the auction takes place on March 27. Several local artist have donated pieces for the auction, and ALL money will be diverted directly to the “Sally Army” in Haiti. See the blog below for photos of the artwork that is available. You can also download the catalog now to see the recommenced retail price.. and make a bid!

It has been manic this year!

Gosh! it has been manic here this year since Christmas and the tourists are no longer a rare sighting – which is great to see. Our new posh signs have gone up at our new office and the location, in the heart of Grace Bay is super, with more “walk in’s” showing the upturn in the market and traffic. We continue to take on more listings and and our unique visitors to our websites is increasing in a steady upward trend. These are all good indicators that the season will be better than last year, and it was very slow, as any company will tell you. Our Canadian friends are taking full advantage of the super new WESTJET service and this company announce that it will be continuing the service after the initial trial period ends. We had down a super couple from Canada this week who stayed at the lovely Regent Palms, with a specific desire to find that super holiday home, and we are all exhausted after much mooching about – all good fun though. We came across this motley looking crew as we traveled around, and they were happy to have their photo take. This is a great initiative by the owner of Regent Palms to clean up the verges and get the grass under control. The gang leader, (chap on the left) was tickled pink when I showed him the photo which was fun.

The other night the long awaited VERANDA opened up for the locals to have a look round and a very good bash it was too. The property is due to open in February as is really stunning. There has been much work of late undertaken on the project, considerable re-design from the original concept in some areas and a defunct project, which when down in 2008 has now been finished, providing much needed work and a boost to our economy here.
The dreadful events in HAITI have focused our minds on how lucky were are to be in this part of the world. We are getting stuck in helping the Salvation Army raise funds, and we are running an art auction at the end of March. All the art work has been donated and all funds raised will go directly to the Salvation Army Appeal for Haiti. The Sally Army, as many call it, supports regularly the Fire Service Volunteers and a team went to Haiti from here to help out.

View all

Get your own

The images here are the pieces of art that can be purchased directly. ALL the proceeds will go to the Salvation Army and the payment method is on this page. Bids are sent to info@caribbeanhomefinder.net which can be found from the website link.

There is much energy here in Turks and Caicos helping out our Haitian friends and neighbors.

A desperate situation

Haiti has come onto the world stage with the terrible earthquake, and thankfully our fantastic communications enable us to not only find out very fast, but do something as I suspect we feel helpless. Sitting here in Turks and Caicos, we felt a rumble, only slight, but enough to recognize that something was afoot.

Many activities swung into action. The Salvation Army opened up and account, opened up an internet access point and drop off point, started collecting immediately at the local large grocery store. The Red Cross organised fund raising events and opened up and internet access point. The airport became a stopping point for many plane, and volunteers provided comfort for tired crews. The Fire Service Volunteers got organized and went to help dig out.

We are only 150 miles or so from Haiti, and we felt helpless. Many Haitian workers here received terrible news.

Our friend, who has business and family in Haiti recieve personal good news, but others are not so fortunate. Here is a direct link to a local community hospital.

On and on went the news.

We will run our links on our website until…….

International Marketing – on line

WEST JET, a very popular low cost airline in Canada has announced that it is going to extend its current service to Providenciales to a year round service after just a few weeks of operating here!

This is great news and is a super signal of confidence for the country as we do rely heavily on the air services from the US and European hubs. Combine this with the news that the airport here (PLS) is probably going forward with an extension to the runway, and terminal upgrade (yet to be formally announced but a hot rumour here – it has gone to the next step in the process of bidding etc), we are excited with the prospect of larger planes coming directly from long distances. At the moment, we have a weekly flight from London (Heathrow) which drops into Nassau for change of crew and fuel, discharging passengers for the Behamas, and TCI passengers stay on board for the shop across. A direct flight from London and possilby other continental gateways would be very good for our tourism industry. Caribbean Home Finder has invested in an advert on the West Jet magazine, which is reproduced here. Click on the image above and you will be bounced to the website.

Here is another image that we use to promote our services and your properties. This is found in the very popular Times of the Islands, which is distributed world wide to a mailing list, as well as being sold locally. It promotes Anchor Realty, which also has its own website – again extending the marketing platform for our clients.

We are very lucky to enjoy our wonderful climate, and at this time of year we are looking forward to spending time on the beach with our friends. The hotels are looking forward to a good Christmas period and much hard work has been undertaken by the Hotel Association here promoting special packages.

Doom and Gloom Versus Optimism

There is no escaping the doom and gloom merchants who just add to life’s challenges is there?

Yes, the whole world is topsy turvy and yes we all want to know how this will all pan out but as we address our day to day issues of survival, I do wish people would smile and not exacerbate the problems.

It seems to me keeping focussed and thinking positively makes the day more fun and it actually rubs off on others. Selfishly, this is fun and makes one feel good!

Mark e mailed me from Calgary today and spread the good news that West Jet has decided to fly to Turks and Caicos throughout the year. The service was introduced in November so it is a new service anyway and we are delighted that the airline is so successful.

We love them to bring Canadians to the islands. They are always so appreciative of the heat, the sand, the sea and relish telling us that just yesterday they were back home shovelling snow on their driveway.

There are many snowbirds from East and West coasts of Canada who have invested in the islands and spend the winter months walking our beaches, reading those books that have stock piled and socialising with many newly made friends from different countries.

Then there is our boss, Terrance. He keeps on getting those listings as he waits patiently in line at the bank; it gives him the opportunity to chat to locals who pass the time with him. He is busy out there now, driving around Provo placing new for sale signs for all his ever increasing agents.

Then there is my husband. He diligently improves our website in between helping me with my technology issues ( I have MANY!!) and spends much of the night thinking of new ways to promote http://www.caribbeanhomefinder.net/

We have moved into another the new office in Grace Bay. The sun is shining.

The Lattes at Salt Mills Cafe opposite are the best.

The cleaning lady smiles as she wipes our windows each day, peering in to see if I am at my desk to give her a wave.

There may not be too many tourists around seeing as they are usually American and many are at home, but thinking positively, I can park the car anywhere, sit anywhere on the beach and and there are no lines in the stores. This equals no stress.

It is a good place to be.

The supermarket and Unicorn Bookstore are stocked with Christmas goodies and along with the carols playing, it is feeling very festive.

Odd when the sun beats down on you and the smell of real pine Christmas trees wafts around on sale outside IGA supermarket once again.

Spread the cheer..It is nearly Christmas and there are many people far worse off than many.

A smile costs nothing and reaps such reward.

Thank you to all of you who keep in touch and those of you who have managed to visit us this year.

It has been a privilege to meet and greet you and put faces to those we chat to so often via e mail. We have made many new friends.

We sincerely wish you all a happy and safe holiday.

We look forward to hearing from you in 2010 and better still, welcoming you in person, over here.

Doom and Gloom Versus Optimism

There is no escaping the doom and gloom merchants who just add to life’s challenges is there?

Yes, the whole world is topsy turvy and yes we all want to know how this will all pan out but as we address our day to day issues of survival, I do wish people would smile and not exacerbate the problems.

It seems to me keeping focussed and thinking positively makes the day more fun and it actually rubs off on others. Selfishly, this is fun and makes one feel good!

Mark e mailed me from Calgary today and spread the good news that West Jet has decided to fly to Turks and Caicos throughout the year. The service was introduced in November so it is a new service anyway and we are delighted that the airline is so successful.

We love them to bring Canadians to the islands. They are always so appreciative of the heat, the sand, the sea and relish telling us that just yesterday they were back home shovelling snow on their driveway.

There are many snowbirds from East and West coasts of Canada who have invested in the islands and spend the winter months walking our beaches, reading those books that have stock piled and socialising with many newly made friends from different countries.

Then there is our boss, Terrance. He keeps on getting those listings as he waits patiently in line at the bank; it gives him the opportunity to chat to locals who pass the time with him. He is busy out there now, driving around Provo placing new for sale signs for all his ever increasing agents.

Then there is my husband. He diligently improves our website in between helping me with my technology issues ( I have MANY!!) and spends much of the night thinking of new ways to promote http://www.caribbeanhomefinder.net/

We have moved into another the new office in Grace Bay. The sun is shining.

The Lattes at Salt Mills Cafe opposite are the best.

The cleaning lady smiles as she wipes our windows each day, peering in to see if I am at my desk to give her a wave.

There may not be too many tourists around seeing as they are usually American and many are at home, but thinking positively, I can park the car anywhere, sit anywhere on the beach and and there are no lines in the stores. This equals no stress.

It is a good place to be.

The supermarket and Unicorn Bookstore are stocked with Christmas goodies and along with the carols playing, it is feeling very festive.

Odd when the sun beats down on you and the smell of real pine Christmas trees wafts around on sale outside IGA supermarket once again.

Spread the cheer..It is nearly Christmas and there are many people far worse off than many.

A smile costs nothing and reaps such reward.

Thank you to all of you who keep in touch and those of you who have managed to visit us this year.

It has been a privilege to meet and greet you and put faces to those we chat to so often via e mail. We have made many new friends.

We sincerely wish you all a happy and safe holiday.

We look forward to hearing from you in 2010 and better still, welcoming you in person, over here.

Christmas in Paradise

Its not easy to photograph land from ground level, so thought a Google Earth picture would be helpful for the location of some fabulous land which has had its price revised. Now you can buy 1 acre of land, one plot back from the ocean for $95.000, and 1.3 acre on a wonderful beach for $295.000 – which is excellent value for money.
This area is Eastwind, on the eastern tip of Middle Caicos and is ready for development of lovely homes. Click on the picture and check out the site. There are several plots available and the zoning will allow homes and tourism related activities. Getting to Middle Caicos is fun, with a fast boat ride from Providenciales, then hiring a car from Mark, who will ensure that you don’t get lost and drive on the new roads to North Caicos, across the hurricane bashed new causeway onto Middle Caicos. DO pop in and see the caves at Mudjin Harbour and enjoy the wonderful view and beach there… you will not be disappointed.
As Christmas is just around the corner, we look forward to meeting friends on the beach during the festive season and catching up with family. It is a little odd to see the Christmas films on the TV, snow, reindeer etc, whilst we enjoy perpetual summer. Our Christmas tress have arrived at the local supermarket and coloured lights are now in place.
We moved into our new office a few weeks ago in the Regent Village on Grace Bay. Still waiting for the signs to be installed, we look forward to meeting more visitors in this central location. Just down from the Seven Stars here in Providenciales where have a 3 bed super apartment for sale.
This apartment, marketed at $1.490.000 is considered very good value for money and is in an excellent position to enjoy prevailing breezes. It has an outstanding view across the world class Grace Bay beach as the photos on the website will show. The unit is occasionally rented for holiday makers and is fully managed by the development.

Christmas in Paradise

Its not easy to photograph land from ground level, so thought a Google Earth picture would be helpful for the location of some fabulous land which has had its price revised. Now you can buy 1 acre of land, one plot back from the ocean for $95.000, and 1.3 acre on a wonderful beach for $295.000 – which is excellent value for money.
This area is Eastwind, on the eastern tip of Middle Caicos and is ready for development of lovely homes. Click on the picture and check out the site. There are several plots available and the zoning will allow homes and tourism related activities. Getting to Middle Caicos is fun, with a fast boat ride from Providenciales, then hiring a car from Mark, who will ensure that you don’t get lost and drive on the new roads to North Caicos, across the hurricane bashed new causeway onto Middle Caicos. DO pop in and see the caves at Mudjin Harbour and enjoy the wonderful view and beach there… you will not be disappointed.
As Christmas is just around the corner, we look forward to meeting friends on the beach during the festive season and catching up with family. It is a little odd to see the Christmas films on the TV, snow, reindeer etc, whilst we enjoy perpetual summer. Our Christmas tress have arrived at the local supermarket and coloured lights are now in place.
We moved into our new office a few weeks ago in the Regent Village on Grace Bay. Still waiting for the signs to be installed, we look forward to meeting more visitors in this central location. Just down from the Seven Stars here in Providenciales where have a 3 bed super apartment for sale.

A fishy picture

These wonderful photos were taken just off the beach at Coral Gardens by Mathew who is a diving instructor. The colors are simply stunning and this is one of the main draws of the islands, the oustanding waters.

Many tourists come specifically for the diving and water fun, but another reason has to be the beautiful environment we are lucky enough to enjoy.

Walking up Grace Bay beach, especially at twilight is a wonderful experience. Many couples marry on the beach and our hotels here cater very well for such occasions.

For some, visiting Turks and Caicos is a life changing experience, when not only the beauty and tranquility of the country abounds, but the promise of a care-free lifestyle is very tempting.

It may be November, and Christmas is just around the corner, but for those of us who are lucky enough to live here, it is perpetual summer, with sultry evenings, that inevitable glass of Chardonnay and carefree chat amongst friends.

You too can experience this part of the world and we are here to help.

Check out our listings on our website and scout around the site to get a flavour of our beautiful country.

For more information and help in finding that dream home, contact either Jan or Rowland Hull who will be pleased to help.

Email either Rowland.anchor@tciway.tc, or Jan.anchor@tciway.tc or call 649 244 6127, or 649 242 1714