A British Territory situated in the Caribbean, the Turks and Caicos Islands offer an investment immigration program under which individuals investing at least $1.5 million in real estate in the country are granted permanent residence without a long waiting periods or physical presence on the Islands.
A popular tourist destination, the Turks and Caicos Islands archipelago consists of 40 islands of which only eight are inhabited. The Islands boast of beautiful beaches, coral reefs, a temperate climate, and many other attractions for visitors and residents alike.
A tax-free destination the economy of the Islands depends primarily on tourism and investment brought in by investment immigrants. A 2-bedroom condo in a five-star resort situated in the Grace Bay Beach area costs around $1.5 million. A 3-bedroom unit can cost around $3 million while a penthouse suite comes with a price tag of $7 million.
Investors can obtain permanent residence by simply purchasing a home that can serve as their holiday residence when residing in the Islands. Those planning on investing in land and constructing their own luxury property may be required to spend around $200 to $500 per square foot. The construction must comply with building codes of the State of Florida and must be strong enough to withstand Category 4 hurricanes.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer.