Turks & Caicos Residency – The Ultimate Guide
We put together this guide for property buyers considering moving to the Turks & Caicos Islands and wondering how to get residency in this idyllic island chain.
Offering a lifestyle that is hard to beat in a highly sought-after location with some of the world’s most celebrated beaches, the Turks & Caicos Islands can offer residents an outstanding quality of life.
Residency can offer the opportunity to enjoy this dream lifestyle day in day out. However, there are various options for staying in Turks & Caicos and different pathways to residency including buying property in Turks & Caicos. This guide explores your options in detail and outlines how to go about applying for residency.
Residency in Turks & Caicos – The Guide from 7th Heaven Properties
Contents
How long can I stay in Turks & Caicos as a non-resident?
Moving to Turks & Caicos
How do I become a resident of Turks & Caicos?
Work Permit
Temporary Residency
Permanent Residency
Benefits of Residency
How to Apply for Citizenship
Find Out More
How long can I stay in Turks & Caicos as a non-resident?
Most visitors to the Turks & Caicos Islands (including visitors from the USA, Canada, the EU, the UK, Mexico and many Caribbean and Central American countries) do not require a visa to enter Turks & Caicos as a tourist. You only need to present a valid passport, proof of a valid onward or return ticket and a completed immigration form.
Visitors are typically granted entry for 90 days which can often be extended by visiting an Immigration Department office.
Moving to Turks & Caicos
There are 5 categories of legal residency in the Turks & Caicos Islands, as follows:
- Belongers (Individuals with Turks & Caicos Islander Status
- Individuals with British Overseas Territories Citizenship
- Foreigner nationals with Work Permits
- Foreigners nationals with temporary residency permits
- Foreigners nationals with a Permanent Residence Certificate (PRC)
If you are a foreign national planning on staying in the archipelago longer with the aim of moving to Turks & Caicos, you will need to for a work permit or residence permit. This guide focuses on the latter.
Find out more: Moving to Turks & Caicos
How do I become a resident of Turks & Caicos?
There are 3 routes to becoming a resident of Turks & Caicos.
The first is to apply for a work permit.
The second is to apply for a temporary residency permit.
The third is to apply for a Permanent Residence Certificate (PRC).
To qualify applicants should be able to demonstrate that they are in good health, have sufficient financial means to support themselves and are of good standing (i.e. have a clean police record).
The application process is relatively straightforward but we would generally recommend that you seek the advice of a local attorney to assist with your application.
Work Permit
Foreign nationals offering skills required for a job with a business in the Turks & Caicos Islands that cannot be filled locally are often granted a work permit for a period of 1 to 2 years which may be renewed thereafter.
There are fees for work permits (ranging from under $1,000 up to $9,500) which are intended to be paid by the employer but may factor in to salaries.
After 10 years of uninterrupted residency in the Turks and Caicos with a work permit, individuals may apply for a Permanent Residence Certificate (PRC).
Temporary Residency
Individuals of independent financial means or an outside income who make a qualifying investment in a home or business in the Turks and Caicos Islands may qualify for a temporary annual residence permit.
The minimum level of investment to qualify for temporary residency is as follows:
- On the island of Providenciales or West Caicos: $500,000,
- On any other islands in the Turks & Caicos: $250,000.
Temporary residency permits cost $1,500 and must be renewed every year.
Permanent Residency
To qualify for Permanent Residence Status (or PRC – Permanent Residence Certificate), individuals must have either legally resided in Turks & Caicos for 10 years, or make a significant investment in the country’s economy.
Residency Route
Under the residency route, an individual who has been legally resident in the country for 10 years may apply for PRC, for which there is a fee of $10,000.
Investment Route
Under the investment route, an individual who has made a significant investment in real estate, a business or a public sector project in the archipelago may apply for a PRC, for which there is a fee of $25,000.
The minimum level of investment to qualify for permanent residency through investment in real estate is as follows:
- $1,000,000 in the case of Providenciales,
- $300,000 in the case of other islands.
The minimum level of investment to qualify for permanent residency through investment in a business is as follows:
- $1,500,000 in the case of Providenciales,
- $750,000 in the case of other islands.
The minimum level of investment to qualify for permanent residency through investment in a public sector project is $1,000,000. Please note that certain approvals and conditions may also apply.
Benefits of Permanent Residency
There are many advantages to becoming a resident of Turks & Caicos.
- You can remain in the country legally without having to renew a visa, work permit or temporary residence permit.
- You may be allowed to work and conduct business in Turks & Caicos (depending on the category the PRC was applied for under).
- You can enjoy tax benefits such as no property tax, no income tax and no capital gains tax.
- Cosmopolitan destination offering a wonderful lifestyle and very high standard of living in breathtaking surroundings.
- Easily accessible destination just a 75 minute flight from Miami.
How to Apply for Citizenship
After 5 years of residency (including holding a Permanent Residence Certificate for 12 months) individuals may be eligible to apply for citizenship by naturalization which is a pathway to getting British Overseas Territories Citizenship.
To obtain Belongership (Turks & Caicos Islander Status) an individual must either be married to a Turks and Caicos Islander, or live legally in the country for 10 years with either British Overseas Territory Citizenship or UK Citizenship.
Find Out More About Residency in Turks & Caicos
Would you like to find out more about how to get residency in Turks & Caicos?
To explore your options in more detail, please contact 7th Heaven Properties, the Luxury Caribbean Property Specialist.
To discover homes for sale in Turks & Caicos and condos for sale in Turks & Caicos from world-famous Grace Bay to less well known but no less spectacular South Caicos which may qualify you for permanent residency, explore real estate in Turks & Caicos on our website.
We look forward to helping you find your perfect property in Turks & Caicos.