TURKS & CAICOS ISLANDS GOVERNMENT LAUNCHES ITS HOME OWNERS POLICY

 

The 1st of April 2019 marked the effective date for the coming into force of the Home Owner’s Policy, recently approved by the Turks and Caicos Islands Government.

The Turks and Caicos Government (TCIG) is keen on promoting homeownership and providing incentives to help those struggling to get on the property ladder or to protect the savings and equity that existing homeowners have painstakingly placed in their homes.

To progress this initiative, Turks and Caicos Islands Government has initiated its Homeowner’s Policy that will provide a duty waiver program, applicable to all Turks and Caicos Islands citizens who are homeowners or in the process of becoming a first time homeowner.

The Hon Premier Cartwright Robinson commented stating; “This Program will give Turks and Caicos Islanders a better opportunity to maintain or increase the equity in their homes as existing home owners of 10 years or more, or to enter the housing market for the first time with some incentives. These incentives will include either a reduction of $20,000 in stamp duty or an import duty waiver of up to $20,000 on building materials/appliances/furniture and fixtures. I am excited the interest already expressed and I know that many will benefit under this Program. Homeownership is an empowerment tool and we are happy to deliver on this important imitative”

To ensure that the Public has all the necessary information required to benefit under this policy, a copy of the approved policy is attached to this release for ease of reference. A copy of the policy can also be downloaded from the Turks and Caicos Islands Government website at www.gov.tc, and the Customs Department website at www.customs.gov.tc.

Hard copies of the policy will also be available at the following locations:

  • The Premier’s Officer, Providenciales and Grand Turk;
  • The Office of the District Commissioner, Salt Cay, South Caicos, Middle Caicos and North Caicos;
  • The Customs Department, Providenciales and Grand Turk;
  • The Land Registry, Grand Turk;
  • The Department of Planning, Grand Turk and Providenciales

Persons can submit their queries regarding homeowner’s policy the following email address:

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All homeowner’s policy applications can be submitted to the Ministry of Finance in Grand Turk and Providenciales or through your local District Commissioner’s Office in North Caicos, Middle Caicos, South Caicos and Salt Cay.

 

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