TCI News
Press Statement – Mandating the establishment of Pubic Beneficial InterestRegisteries in The Overseas Territories through order in Council
#TurksandCaicos, May 04, 2018 – Providenciales – It should be no surprise to observers of history that the Overseas Territories constitutional relationship with the UK has been subjugated in a political compromise between the minority government of Theresa May and the diverse parliamentary groups to secure the passage of the new Sanctions and Anti-Money Laundering Bill passed by the UK Parliament on May 1 in exchange for mandatory establishment of public registries of beneficial interest by 2020.
The will of colonial peoples have always been political fodder In the UK geopolitical interest as reflected in the famous oration by Viscount Lord Palmerston 1784-1865, Foreign Secretary and two-time Prime Minister under Queen Victoria that “Britain had no eternal allies and no perpetual enemies, only interest that were eternal and perpetual.” And so, history has once again repeated itself and the interest of the Overseas Territories has been sacrificed on the altar of political expediency to achieve legislative consensus in bringing sanctions to bear against Russia.
The decision by the UK Parliament on the one hand affirmed the principle of consensus democracy as it relates to the UK special interest; while on the other hand admittedly “disenfranchises the elected representatives of the Overseas Territories who do not have a voice in the UK Parliament.” This is especially egregious given that it reflects a traditional bias in favour of Crown Dependencies tilting the playing field in their favour. The alarming Ignorance of reality in the Overseas Territories by members of UK Parliament has been costly, and this most recent decision in the words of Alan Duncan himself will potentially create hardship for them.
The decision is clearly not evidence based and indeed the evidence provided by the UK itself as reflected by Alan Duncan statement asserts that the Overseas Territories now generally have “central registers or similarly effective systems …… that enable UK law enforcement authorities to establish the ultimate owner of companies registered in the Overseas Territories……The commitments they have made in the exchanges of notes with the UK exceed current Financial Action Task Force standards and put them ahead of most jurisdictions, including many of our G20 partners and some states in the United States.” This contradicts the notion of UK parliamentarians that the Overseas Territories are tax havens for robber barons, tax evaders, fraudsters, drug runners and funders of terror. Indeed, there is more evidence that the UK itself is a haven for ill-gotten wealth.
While the Turks and Caicos Islands offshore financial sector is not as significant a part of our economy compared with that of the Cayman Islands or the BVI we have recently passed a new Companies Ordinance which establishes a central registry albeit not public; and plans are ongoing to continue the modernisation of legislation to make the jurisdiction more competitive. In addition, a review of the industry by KPMG is expected to be completed during the month of May together with recommendations for the expansion of the Offshore financial services sector.
Therefore, two sequential and immediate actions are necessary to any future strategy to grow the financial services sector to maintain equilibrium between income and costs.
- TCIG should move post haste to publicly identify itself with the sentiments of those recently expressed by the Cayman Islands, BVI and Gibraltar in a show of solidarity.
- Second and more importantly all stakeholders including the government, opposition and the private sector must as a matter of urgency convene a meeting to examine the options available to the TCI in a rational and dispassionate way. Given the TCI low profile in this sector there may well be an upside that may be used to our advantage. A win for the Turks and Caicos Islands regardless to who are the architect is a win for all of us, but the discovery of that win requires vision and collaboration.
News
The Department of Trade, Industry & Fair Competition to Host Export Readiness Workshop Under the theme “Empowering TCI Businesses for Local Growth and Global Markets.”
TCI News
Experience Turks and Caicos and Aquila Host Product Development Workshops to Strengthen Sister Islands Tourism
PROVIDENCIALES, TURKS AND CAICOS ISLANDS – Experience Turks and Caicos, in collaboration with the Aquila Center for Cruise Excellence, successfully hosted a Product Development Workshop for tourism stakeholders from North Caicos, Middle Caicos, and South Caicos on Wednesday, January 14 and Thursday, January 15, 2026.
The workshop was designed to support tour operators, entrepreneurs, and tourism-related businesses as they adapt to the evolving demands of the global tourism industry. Participants engaged in hands-on exercises and structured sessions aimed at reimagining existing tourism products and developing new, innovative, and sustainable experiences that are market-ready and aligned with current visitor expectations.
Throughout the workshop, attendees were equipped with practical tools and strategies to develop high-impact tourism offerings, strengthen
product packaging and pricing, assess market readiness, and enhance value creation. Emphasis was also placed on collaboration, partnership development, and the promotion of sustainable practices to ensure that the Turks and Caicos Islands remain a fresh, competitive, and appealing destination. More than 20 participants representing tourism businesses across the islands took part in the training sessions.
“Experience Turks and Caicos has a responsibility to ensure that all communities across the Turks and Caicos Islands benefit from tourism. These workshops are designed to equip local businesses with the essential tools and knowledge needed to maximise the opportunities within the industry, and we look forward to supporting their continued growth,” said Mr. Paul Pennicook, Interim CEO Consultant.
Speaking on the importance of the initiative, Candesha Mills the Product Development Manager at Experience Turks and Caicos said: “We are actively working on destination development by supporting our stakeholders as they reimagine their products and experiences. Workshops like this are critical to helping businesses identify opportunities for collaboration, create bundled offerings, and develop cohesive tourism experiences that align with emerging trends and evolving visitor expectations.”
The workshops were facilitated by Ms. Ambra Attus, who guided participants through strategies for designing distinctive and engaging tourism experiences that resonate with today’s travellers.
She said: “Product development is where destinations truly define their identity, and these trainings are designed to help operators in North, Middle and South Caicos create experiences that are not only market-ready, but meaningful, high-quality, and rooted in what makes these islands truly special. These sessions reflect a forward-thinking commitment by Experience Turks and Caicos to invest in their people and in the long-term quality of the destination’s tourism product. Aquila is proud to be your training partner.”
The workshop also featured the Invest TCI MSME Team, who were on site with an information station available throughout both sessions. Stakeholders had the opportunity to engage directly with the team, gain insights into the MSME Programme, and learn more about the range of support services, incentives, and resources available to assist business growth and development.
Experience Turks and Caicos commended participants for their commitment to investing in their businesses and contributing to the continued enhancement of the destination’s tourism product. The organisation expressed appreciation for the active participation and innovative ideas shared during the session, which are expected to contribute meaningfully to the sustainable growth of tourism in North and Middle Caicos and South Caicos.
Providenciales, Turks and Caicos Islands – Thursday, 5 February 2026: The Informal Settlements Unit (ISU), in collaboration with
partner agencies, coordinated a multi-agency enforcement exercise on Wednesday, January 28, 2026, at Silverado Wells in Five Cays. The exercise was led by the Crown Land Unit, pursuant to its statutory mandate under the Crown Land Ordinance to prevent squatting and encroachment on Crown land. The ISU coordinated the operation, with support provided by Immigration and Border Services, while the Royal Turks and Caicos Islands Police Force ensured security throughout the activity.
The enforcement action followed a series of inspections conducted by the Crown Land Unit throughout Five Cays, which identified an illegal concrete structure on the subject parcel. In keeping with the provisions of the Crown Land Ordinance, a Section 22 Notice of Illegal Occupation was posted on the structure. Following the failure of the responsible party or parties to comply within the prescribed timeframe, enforcement action was authorised.
The Informal Settlements Unit reiterates that these coordinated enforcement exercises form part of the Government’s ongoing efforts to uphold the law, protect Crown land, and manage informal settlements in a structured and lawful manner. Members of the public are reminded that unauthorised occupation and development on Crown land is unlawful and subject to enforcement action.
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TCI News1 week agoIllegal Structure Removed During Crown Land Enforcement Exercise in Five Cays
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News1 day agoThe Department of Trade, Industry & Fair Competition to Host Export Readiness Workshop Under the theme “Empowering TCI Businesses for Local Growth and Global Markets.”
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TCI News3 days agoExperience Turks and Caicos and Aquila Host Product Development Workshops to Strengthen Sister Islands Tourism