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Purchasing property in Turks and Caicos

There are no restrictions on foreign ownership of Turks and Caicos real estate. There are also no annual property taxes or capital gains taxes. Purchasing property in TCI is simple and we at Keller Williams TCI are here to make it an enjoyable experience for you.

Purchasing property IN TCI

Purchasing Process

Once a property is selected, and a price is agreed upon, a Purchase and Sales Agreement is prepared, and an initial deposit of 10% of the Purchase price is lodged with Seller’s Attorney which is held in escrow until closing. On closing the transfer documents are handed over to the Buyer’s Attorney in exchange for the balance of the purchase price. Original signatures are required and signing must be witnessed and signed by a Notary with his /her stamp affixed.

The Buyer’s Attorney then lodges the transfer documents with the Land Registry. The Land Register then deletes the name of the Seller and inserts the name of the Buyer as the new owner of the property giving him or her freehold title to the land. A British Dependent Territory status ensures an accountable legal system with absolute title guaranteed by the Crown.

At the time of registration a one-time stamp duty to government will be payable by the new owner of the property.

Stamp duty is a one-time fee that is payable on all real estate transactions varying from 6.5% to 10% dependent on the purchase price.

If you have any question on the purchasing process in TCI, just contact us and we will glad to help you!

Best Realtors

Why sell with Keller Williams TCI Realty

One of our many strengths at Keller Williams TCI, real estate, is that we are the longest serving real estate company in the islands. This gives us the advantage having the largest historic database in real estate sales. Our long experience gives you the greatest background knowledge to draw from in making critical decisions.

purchasing property in tci

Why Buy with Keller Williams

Years of Partnerships

Keller Williams Realty, real estate specialist, is here to make purchasing property in TCI an easy and stress free experience. We have established lasting partnerships with professionals, from attorneys, to appraisers and surveyors. This puts us in a position to assist our customers with all facets of the sales process. We are prepared to assist you every step of the way to ensure a smooth and successful closing.

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