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Press Statement – Mandating the establishment of Pubic Beneficial InterestRegisteries in The Overseas Territories through order in Council

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#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.

  1. 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.
  2. 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.

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Sonia Fulford Re-Elected to FIFA Council Unopposed: A Historic Moment for The Caribbean and World Football

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Turks and Caicos, March 22, 2025 – Today marks a historic milestone in Caribbean and world football as Sonia Fulford has been re-elected unopposed to the FIFA Council for an unprecedented third consecutive term. This remarkable achievement reaffirms her status as a trailblazer, being the first woman to hold these positions on both the FIFA and Concacaf Council for three successive terms.  Fulford was initially elected to the FIFA Council in 2013, ahead of the FIFA’s reform which introduced term limits of no more than three four-year terms, which makes Fulford the second longest-serving sitting member of the FIFA Council.

Fulford’s journey in football began on the field as a player for the Turks & Caicos Islands National Team. Her passion for the sport led her to serve as General Secretary of the Turks & Caicos Islands Football Association (TCIFA) in 2006 before being elected as its President in 2014. Over the years, she has become a formidable force in shaping the development of football in the Turks & Caicos Islands, the Caribbean and beyond.

Under her leadership, Fulford has been a relentless advocate for the growth and inclusivity of the sport, championing development programs and funding, increasing opportunities for women in football, and ensuring that smaller nations have a voice on the global stage. Her re-election is a testament to the trust and confidence placed in her by the footballing fraternity, recognizing her unwavering commitment to the sport’s progress.

Expressing gratitude for this significant moment, Fulford stated:                                                                                                                                                              “I am deeply honored and humbled by the confidence shown in me by my colleagues and the global football community. This journey has never been about personal accolades but about creating opportunities, fostering growth, and ensuring that football continues to unite and inspire. I extend my heartfelt thanks to the members and stakeholders who have supported me throughout the years. My gratitude also goes to my dedicated staff and the entire TCIFA family, present and past, who have made my job easier with their unwavering commitment. To my family, especially my husband Guadrvin Missick, your support has been my pillar of strength, and I share this achievement with you.”

Looking ahead, Fulford reaffirmed her pledge to continue her mission of empowering the people of the region, particularly women, and ensuring that Caribbean football continues to thrive on the world stage.

“This re-election is not just a victory for me but for the entire region. It is proof that our voices matter and that we have a seat at the highest levels of decision-making. I remain steadfast in my commitment to advocating for our region, fostering talent, and ensuring that football serves as a vehicle for positive change.”

Her re-election serves as a proud moment for the Caribbean and the Turks & Caicos Islands, highlighting the region’s growing influence in global football governance. The announcement was made during the 40th Concacaf Ordinary Congress, held on March 15, 2025, in Castries, St. Lucia. As she embarks on another term, the future of football in the region looks brighter than ever under her steadfast leadership.

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Turks and Caicos United Investment Ltd. Launches to Empower Local Investors and Build Generational Wealth  

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Providenciales, Turks and Caicos Islands – A bold new chapter in financial empowerment has begun with the official launch of Turks and Caicos United Investment Ltd. (TCUI) on Tuesday, March 17th, during a special edition of Financially Speaking. This initiative is set to transform how Turks and Caicos Islanders—both at home and abroad—engage in wealth creation and economic growth.

Uniting Investors, Strengthening the Economy

TCUI is more than just an investment platform; it is a movement designed to unite and empower Turks and Caicos residents to take control of their financial future. By pooling resources, TCUI members will have access to strategic investment opportunities that foster economic sustainability, financial independence, and generational wealth.

“Our goal is to ensure that Turks and Caicos Islanders are at the forefront of economic development,” said Drexwell Seymour, Chairperson of TCUI. “Through collaboration and smart investing, we are creating a pathway for residents to build long-term financial security and preserve a legacy for future generations.”

A Vision for Prosperity

The idea for TCUI emerged after the Government’s announcement of a $1,000 cost-of-living relief stimulus. Instead of viewing the stimulus as a short-term fix, a group of more than 20 forward-thinking individuals came together to establish an organization that would provide lasting financial benefits. Their collective vision is to create an investment vehicle that allows Turks and Caicos Islanders to actively shape the nation’s financial landscape.

With an emphasis on community-driven investing, TCUI is positioning itself as a catalyst for economic transformation. The company aims to support ventures that not only yield strong financial returns but also contribute to the overall development and sustainability of the Turks and Caicos economy.

Meet the Leaders Behind TCUI

TCUI is backed by a strong leadership team committed to guiding the organization toward success:

  • Drexwell Seymour – Chairperson
  • Jena Janse – Deputy Chairperson
  • Kendi Jones – Secretary
  • Tekarrah Gardiner – Treasurer
  • Ranekia Lightbourne Daley – Member & Liaison Relationship Director

How to Get Involved

TCUI is inviting residents of Turks and Caicos Islands and TCI citizens abroad to become part of this groundbreaking initiative. Whether you’re an experienced investor or new to the world of finance, TCUI offers a structured, community-driven approach to wealth-building that ensures every investor has a stake in the nation’s future.

To learn more about TCUI and how you can participate, visit www.tcunitedinvestment.com.

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Lost in Paradise: Why TCI Needs Real Addresses Now

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Turks and Caicos, March 22, 2025 – There was a time when knowing someone’s address simply meant knowing their last name.  But times have changed.  With shifting demographics and an influx of new residents, that informal system no longer works.  Today, many of us don’t even know our neighbors’ last names—let alone how to direct emergency responders to their homes in a crisis.

That’s about to change.  A new initiative led by Hon. Saunders, in partnership with Google Maps, is tackling this issue.  As of January 29, 2025, Google Maps has updated its Street View imagery for the Turks and Caicos Islands.  Residents, businesses, and emergency services can now access detailed, street-level visuals for Providenciales, North and Middle Caicos, Grand Turk, and parts of South Caicos and Salt Cay.

This is real progress. Street View allows users to explore roads, landmarks, and—most importantly—street signs.  It can improve navigation for residents, tourists, foreign police officers and 911call center operators who maybe unfamiliar with the communities, ensuring locations can be found more easily.

In an emergency, knowing exactly where to go can mean the difference between life and death.  While Google Maps isn’t perfect, users can report missing or outdated information directly through the app, improving accuracy over time.

But this update is just the first step.  The next priority should be implementing a standardized house numbering system across these islands. Without clear addresses, even the best mapping technology has limits.  Emergency responders rely on accurate location data to reach people in distress quickly.  A missing house number can delay critical assistance when it matters most.

Beyond safety, there are practical benefits. Accurate addresses streamline deliveries and  taxi services.  Businesses that rely on customer foot traffic need reliable location data.  Tourists using navigation apps to find hotels, restaurants, or excursions may otherwise find themselves lost.

In an increasingly digital world, proper addresses also impact economic growth.  Businesses with precise locations perform better in online searches, increasing visibility and customer engagement.  Many banks and insurance companies require a valid address for loans, mortgages, and policies.  Without a formal system in place, some residents may struggle to access financial services.

Modernizing TCI’s address system isn’t just about convenience—it’s about safety, efficiency, and progress.  The introduction of Google Maps’ Street View is a significant step forward, but it must be followed by a government-led initiative to assign numbers to every home and business.  Without this, TCI risks falling behind in essential services that impact both residents and visitors alike.

The time to act is now.  A standardized address system isn’t optional—it’s essential for the islands’ future, giving residents that peace of mind and making TCI one of the best places to live and work.

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