Turks & Caicos Islands Government Stimulus Package Including Stamp Duty Reduction The Turks & Caicos Islands Government has approved a full package of benefits that will serve as a direct economic stimulus following the fall out in economic activities across the Islands as a result of the global pandemic – COVID 19. The stimulus package is planned to lessen the impact of the global crisis on residents, whilst allowing the Ministry of Health to strengthen health policy responses. Included in the stimulus package, as it relates to real estate, are the following initiatives and exemptions for a three-month period to assist with boosting inward investment: •
Reduction of 50% in Stamp Duty for a period of three months
•
50% of reduction of planning fees for a period of three months
•
A waiver of Customs Duties on Construction Materials for a period of three months
There will be a review of same after the initial period of April 1 to June 30, 2020.
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Stamp Duty Rates - April 1st ,2020 through June 30th, 2020. The Following Shows a 50% Reduction Across All Islands Providenciales, Pine Cay Ambergris Cay, Parrot Cay, West Caicos, Water Cay Less the US25,000
US$25,000 - US$250,000
US$250,000-US$500,000
More than US$500,000
No Duty
3.25%
4%
5%
Grand Turk, South Caicos, Middle Caicos, North Caicos, Salt Cay Less the US25,000
US$25,000 - US$100,000
Over US100,000
No Duty
2.5%
3.25%
Sincerely,
Management and Staff
Regency Christie’s International Real Estate
For more information contact one of our agents HERE
www,THETurksandCaicos.com
info@tcibrokers.com
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