Invest Turks and Caicos
This is an overview of Invest Turks and Caicos Islands, an agency which facilitates and incentivizes domestic and foreign investment.
The Turks and Caicos Islands offer a wide range of investment opportunities. With pristine natural resources, a strong tourism economy, proximity to major markets in North and South America, and many investor incentives, the country is an attractive choice for investment. Whether you’re interested in developing real estate on one of the islands or starting a business, Invest Turks and Caicos Islands (Invest TCI) can offer assistance and support.
The island nation has a stable economy with a focus on sustainable development. Invest TCI helps connect businesses and investors with incentives, tax breaks, and grants to support and grow businesses in the islands.
Easily Accessible
These islands offer growing opportunities for business and investment in sectors including banking, food, education, healthcare, real estate, fishing, and tourism. With a prime location just 575 miles (925 km) southeast of Miami and 30 miles (48 km) southeast of the Bahamas, the islands have become a tourism mecca. The Turks and Caicos Islands are easily accessible, with the Providenciales International Airport being one of the most connected airports in the Caribbean.
About Invest TCI
Invest Turks and Caicos is a government agency that provides free support, information, and connections to local resources in the Turks and Caicos Islands. The agency can connect investors and businesses with local service providers, cash grants, government incentives, customs duty exemptions, and more. In addition, Invest TCI provides assistance with navigating the regulatory, investment, and approval process for developers. Invest TCI also helps businesses navigate work permits and permanent residency permits.
Invest TCI provides research and marketing services, including awareness building, public relations, investment leads, and research to support investor requests. The agency also has an Investor Services Unit to assist developers in the islands. The agency conducts studies and research to identify investment opportunities, appraises and evaluates projects, and assists with compliance and government approval of projects. Invest TCI can assist with the government approval process for developers.
Invest Turks and Caicos also provides support to help investors succeed long-term by monitoring projects after approval and helping investors reinvest their portfolios.
History
Invest TCI was launched in December 2015 to promote business and development in the Turks and Caicos Islands. The agency operates under the Islands’ Encouragement of Development Ordinance and the 2012 Investment Policy. It is governed by a Board of Directors. Invest TCI also holds events to educate, inspire and connect local small businesses with resources.
Assistance for Small Businesses
Under the Micro, Small, and Medium Enterprise (MSME) Development Ordinance in the Turks and Caicos, small to medium-sized local businesses may receive marketing support and assistance applying for government concessions and grants. Companies that offer services or products in an area defined as a priority for the Islands - tourism, for instance - may qualify for benefits such as customs duty exemptions. For developers, Invest TCI offers services that bridge the gap between businesses and the government and advocates for investors.
Foreign Direct Investment and Large Developments
The Turks and Caicos Government has a policy of providing extensive concessions and incentives to foreign developers, including tax breaks, protection from future taxation, discounts on crown land, and other attractive incentives via developer agreements.
Technical Assistance
Invest TCI also offers technical assistance to businesses. Technical support may include professional or financial assistance for product design, packaging design, quality control, business plans for financial management, local and export marketing, production management, and help with arranging financing. Micro, small, and medium businesses can apply for grants, concessions, and assistance from Invest TCI via their website.
Events
In addition to offering support services, Invest TCI hosts events to support local businesses. The group holds an annual Entrepreneurial Symposium in partnership with the Department of Youth Affairs to educate and inspire the next generation of business leaders. Small business leaders in the community offer inspiring speeches and encouragement to budding entrepreneurs at the symposium.
Local small businesses also attend the event and are able to network and make connections with wholesalers, hotels and resorts, and supply chain companies. Past recipients of Invest TCI’s MSME Program also participate in the event, offering interactive displays and product demos.
Doing Business in Turks and Caicos
The Turks and Caicos Islands offer plenty of investment opportunities. With a prime location in the Caribbean between major markets in North and South America, pristine beaches and lush natural landscapes, a booming tourism industry, a sound legal system as a British Overseas Territory, and substantial incentives and tax breaks for business, the Turks and Caicos have endless opportunities for investors.
Furthermore, Invest Turks and Caicos Islands provides extensive resources to help businesses and developers navigate legal requirements and qualify for grants and concessions. Turks and Caicos is an ideal place to invest for companies looking to expand or begin projects in a vibrant Caribbean destination.