TCI News
TCI: Savory favors investor residency status, heralds KPMG economic report, says Caicos link is economic lifeline
#Providenciales, Turks and Caicos Islands, Monday May 21, 2018 – A report by #KPMG is expected to expose exactly what the Turks and Caicos needs to hear about its economy and its economic potential in the Financial Services thanks to a state of the industry assessment which will be completed in a matter of weeks.
The subject and advent of the economic report was touted in the third annual #BordierBank(TCI) Investment Conference held May 16-18 2018 at Beaches Resort Villages and Spa in Providenciales. 
Peter Savory, director of Chartered Trust and Savory & Associates, both in the Turks and Caicos Islands, was among the opening ceremony speakers and said the Turks and Caicos is certainly in a period of transition.
Mr. Savory cited the shift in the financial services is evidenced in, among other things, the arduous re-registering of every company in the islands in time for an October deadline due to new requirements of a re-booted Companies Ordinance; updated for the first time in 37 years, he said.
But Mr. Savory, in his remarks, largely focused on how to make investing more attractive to multi-millionaires who are dawdling on the fence, instead of taking the plunge.
“…what I think it is going to contain, and if I am right, it is going to say that TCI has very good potential in the area of private trust companies and there is a very interesting aspect I suppose or feature in there for Trusts to own company shares that I think will have good potential…” Savory whose LinkedIn profile says he is a financial graduate of the University of Auckland added, I believe we have a great future in attracting high net worth individuals here in the Turks and Caicos Islands.” 
Peter Savory believes the Turks and Caicos would be on the winning side if it were to establish a quota of how many investors could attain legal residency, which would or could be tied to the type and value of investment these qualifiers would be prepared to make.
“I have been told that the Cayman Islands has a quota for residency certificates that they have never met. Now is it because there is more due diligence, that it is extremely robust or is it that they have just not been successful enough in marketing their residency program. Whatever the reason, there are great parallels to draw with places like the Cayman Islands…”
Savory said while he is not suggesting citizenship for the wealthy investors, he believes it may help the sector if there was more structure and a plan to sweeten the pot for inward investment to bolster the country’s number two industry.
I think our future lies in trying to attract people where they have the capacity to invest good amounts of money…” Peter Savory explained that he is already having referrals of people who are in the Turks and Caicos, average people who have been extremely successful and who are willing to pump millions into the economy via the financial services if they were given some sort of investor status; he continued, “and it is certainly something that I am actively lobbying the government on.”
Mr. Savory talked about alternative investment and touted an infrastructural addition to link the Caicos Islands.
“Imagine a road bridge, a bridge connecting the island of Providenciales and #NorthCaicos and how that might change the economic face of the Turks and Caicos Islands if we were to open up North Caicos and #MiddleCaicos, which are joined by causeway an are potentially three times the size of Providenciales; Providenciales itself being twice the land there in Bermuda. Bermuda having a population of 60,000 people.”
Mr. Savory sees a bounty of potential in this infrastructural enhancement, which as been touted for decades but remains undone; an economic and development dream unrealized.
“And it could be made to tie in quite nicely with an investment product and with other things such as a permanent residency program to make it a viable alternative.” 
Kenrick Walters, Chief Risk Officer at Bordier Bank TCI, who has seen a draft of the document said of the KPMG report that, “I can’t get ahead of the Premier (who is also finance Minister) in saying what is in that report, but I can tell you that it addresses some of the major concerns that we have faced in the industry for a long time. Immigration, business licenses, business processes in general; things like dispute resolutions at the courts, all of these issues and all of these areas will be addressed and the Premier has committed to looking at the industry from a holistic standpoint and working with the private sector, with regulators and so on to really change the game.”
The KPMG survey team arrives in the country this week.
News
The Turks and Caicos Islands Set Positive Start to 2026 with Increase in January Stayover Arrivals
PROVIDENCIALES, TURKS AND CAICOS ISLANDS – (February 25th, 2026) – The Turks and Caicos Islands began 2026 on a positive note, with stayover arrivals in January surpassing the same period in 2025.
Preliminary figures indicate that 56,830 stayover visitors arrived in January 2026, representing a two percent increase year-on-year. The steady growth continues the positive momentum experienced at the close of 2025.
Mr. Paul Pennicook, Interim CEO Consultant, attributed the encouraging performance to new collaboration with tour operator partners as well as increased airlift from key source markets.
“We anticipated a strong January performance following the growth recorded in November and December. The winter season has traditionally been a robust period for the Turks and Caicos Islands, and this year that strength has been further supported by enhanced collaboration with partners and expanded airlift from Canada and the United States We are cautiously optimistic about maintaining this upward trajectory in the weeks and months ahead.
Cruise Sector
In cruise, preliminary figures show 122,935 cruise passenger arrivals in January, reflecting a 15 percent decrease compared to January 2025.
The decline is attributed to a reduction in cruise calls during the month. A total of 33 vessels called on Grand Turk in January, seven fewer than during the corresponding period last year.
Marketing Shows
As part of its ongoing efforts to position the Turks and Caicos Islands as a premier luxury destination, Experience Turks and Caicos has been actively participating in the Travel & Adventure Shows across several major cities in the United States.
The destination has already been showcased in Washington, D.C., New York, and Chicago, with Fort Lauderdale and Denver scheduled in the coming weeks.
Public Relations Manager Laura Dowrich represented the Turks and Caicos Islands alongside the destination’s U.S. marketing agency, ABA Global.
Beaches Turks & Caicos – Stone Creek Travels
“One of the most encouraging takeaways from these shows is that the Turks and Caicos Islands is indeed on travellers’ radar. We met many visitors who shared fond memories of their time here, others who already have trips booked and were seeking recommendations on activities and dining, and many more who aspire to visit. It was a pleasure highlighting our multi-island destination and sharing the many experiences that make the Turks and Caicos Islands truly special,” said Ms. Dowrich.
Awards & Recognition
Building on a stellar year of accolades in 2025, the Turks and Caicos Islands has begun 2026 with additional international recognition.
The destination earned a Gold Badge in the U.S. News & World Report rankings, placing #5 in Best Family Vacations in the Caribbean and #5 in Best Beaches in the World. In the USA Today 10Best Readers’ Choice Awards, Grand Turk was ranked #10 among the Best Caribbean Islands to Visit.
About Experience Turks and Caicos
Middle Caicos Dragon Cay Resort
Experience Turks and Caicos is the official destination marketing and management organisation (DMMO) for the Turks and Caicos Islands. The organisation is committed to positioning the destination as a premier, sustainable luxury tourism hub. By leveraging smart tools, data-driven strategies, and stakeholder collaboration, Experience Turks and Caicos focuses on enhancing the visitor experience and fostering long-term industry success.
About the Turks and Caicos Islands
The Turks and Caicos Islands consist of two island groups in the Lucayan Archipelago—the larger Caicos Islands and the smaller Turks Islands. Home to some of the world’s most pristine beaches, including the award-winning Grace Bay Beach, the destination is renowned for its crystal-clear turquoise waters, luxury accommodations, and rich cultural heritage. Each island and cay offer a unique experience:
- Providenciales boasts world-class resorts, fine dining, and high-end tourism offerings.
- Grand Turk serves as the vibrant hub for cruise tourism and historical exploration.
- The sister islands provide a gateway to nature, adventure, and authentic local culture.
Recognised as the world’s best-kept secret, the Turks and Caicos Islands offer effortless luxury, with seamless connectivity via direct flights from major cities in the United States, Canada, and the United Kingdom.
Photo Captions:
Grand Turk – slow travel with us
North Caicos – Correy Forbes
South Caicos Sail Rock
Providenciales, Turks and Caicos Islands – Wednesday, 25 February 2026: Staff of the Department of Disaster Management and Emergencies (DDME) participated in a one‑day Professional Staff Development Workshop on Thursday, 19th February 2026. The session was facilitated by former DDME Director (2011–2021) and current Permanent Secretary of the Governor’s Office, Dr. Virginia Clerveaux.
The in-house workshop was organised by the DDME Training Unit, to focus on the National Disaster Management Framework, strengthening staff understanding of their roles and responsibilities within disaster management. The session also aimed to enhance the effectiveness of the National Emergency Operations Centre (NEOC) and reinforce inter‑agency coordination.
Drawing on her extensive experience in disaster management in the Turks and Caicos Islands, as well as several deployments to CDEMA member states including Haiti, The Bahamas, and Jamaica, Dr. Clerveaux provided practical insights that reinforced key concepts and clarified operational expectations. Staff members actively participated in discussions and shared recommendations to improve sub‑committee performance and overall departmental efficiency.
To support learning retention, the workshop incorporated pre‑ and post‑assessments, enabling participants to evaluate their understanding and track improvements.
Acting Director of DDME, Mr. Kevaun Lucas stated: “Investing in the continued development of our team is essential to strengthening national resilience. This and future planned workshops will help to reinforce our commitment to building a highly skilled, well‑coordinated workforce capable of leading and supporting disaster management efforts across the Turks and Caicos Islands. I am proud of the team’s engagement and encouraged by the meaningful contributions they made throughout the session.”
This Professional Staff Development Workshop forms part of DDME’s ongoing commitment to enhancing internal capacity, strengthening operational coordination and improving overall departmental synergy as the agency continues to advance national preparedness and response capabilities.
Photo Captions:
Providenciales, Turks and Caicos Islands, 20 February 2026 — The Informal Settlements Unit (ISU), in collaboration with key
government agencies, coordinated a multi-agency enforcement exercise on Thursday, February 5, 2026, at Block and Parcel 60609/33 in the Five Cays area.
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 the Planning Department and the Turks and Caicos Islands Border Force, 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 several illegally constructed buildings made of concrete and timber on sections of the subject parcel. In keeping with the provisions of the Crown Land Ordinance, occupied structures were served Letters of Illegal Occupation, delivered by hand to occupants and
posted on structures where individuals were absent. Incomplete and unoccupied structures were served Notices of Unauthorized Occupation pursuant to section 22 of the Ordinance. A total of ten (10) Letters of Illegal Occupation and three (3) Notices of Unauthorized Occupation were issued during the exercise.
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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News5 days agoDDME Staff Strengthen Disaster Management Capacity Through Professional Development Workshop
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News1 week agoMulti-Agency Enforcement Action Conducted in Five Cays
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News5 days agoThe Turks and Caicos Islands Set Positive Start to 2026 with Increase in January Stayover Arrivals