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Stimulus Package for the Turks and Caicos Islands Real Estate Market

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Stimulus Package for the Turks and Caicos Islands Real Estate Market

April 08
01:03 2020
Stimulus Package for the Turks and Caicos Islands Real Estate Market
The Turks & Caicos Islands Government has approved and implemented a package of benefits that will assist and serve as a direct economic stimulus. This stimulus will help expose our destination to so many that are looking for a destination where social distancing, through a low density population, and clean environment is the norm.

As concerns and uncertainty surrounding the coronavirus continue, first and foremost we hope you and those closest to you remain safe and healthy.

However, its important we share some updates from a real estate perspective here in the Turks and Caicos Islands. 

The Turks & Caicos Islands Government has approved and implemented a package of benefits that will assist and serve as a direct economic stimulus during the fall out in the economy, doing so for all the Islands in the Turks and Caicos. This stimulus package is planned to flatten the curve of the economic impact on our residents.

The three MAJOR points from the Government Stimulus Package as it relates to the real estate industry are as follows:

• 50% reduction in Stamp Duty across all islands for a three-month period

• Waived Custom Duties on construction material for a three-month period

• 50% reduction in planning fees for a three-month period

Access Amended Stamp Duty Rates HERE:

NOTE: Further review and update of this initial stimulus package will be made at or around 1st June, 2020

Members of the Government Liaison Committee, a team set up through the Turks and Caicos Real Estate Association (TCREA) remain ready to assist the Turks and Caicos Islands Government by lending our expertise and insight. We at Regency-Christie’s International Real Estate are committed to not just furthering our needs as a single brokerage, but all members of TCREA, the country as a whole, and this goes without saying, you as our trusted friends and clients. 

It’s our duty to do our utmost to support our islands, our citizens and our industry, but do so with great compassion and understanding. We know times are more than tough right now, but with the correct guidance and a concerted effort targeted to help all, we will come through this the best way possible. 

Whilst the doors to our office have closed temporarily, we, as a team remain active through the myriad of technological resources that allow us to connect remotely. We constantly research matters on a global level, and put a high priority is reliable, concise, and accurate information, so that we can navigate these unchartered waters… and the one thing the Caribbean is famous for is navigating uncharted waters!!

In closing, we wish you the very best of health, and await the day when we can once again welcome you back, with outstretched hands, and a warm island embrace.

Your Team at Regency – Christie’s International Real Estates

– Robert Greenwood
Director & Broker

Stay safe, stay well.

For more information, visit:

www.THETurksandCaicos.com

Christie’s International Real Estate

Media Contact
Company Name: Regency Christie’s International Real Estate
Contact Person: Robert Greenwood
Email: Send Email
Phone: (649) 432 7653
Address:One Season Plaza, Suite 7, Grace Bay
City: Providenciales
State: BWI
Country: Turks and Caicos Islands
Website: https://www.theturksandcaicos.com/