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Letter To The Editor: Protecting Generational Wealth!

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#TurksandCaicos, September 9, 2021 – Despite the significant impact caused by the current COVID-19 pandemic, real estate reports show the market in TCI is at an all-time high, and continues to make remarkable gains.

With that being said, this should give us pause for thought; why in a global economic downturn, does TCI real estate continue to be such a hot commodity?

Could it be because we have such relaxed tax regulations, or is it a consortium of foreign investors with large sums of cash who are seeing this as a lucrative opportunity to acquire prime real estate?

In some cases, these properties are used to build lavish homes which are later utilized as short term vacation rentals, or better yet, just left for their next generation.

With this being a real possibility, are we forward thinking enough to undertake sharply focused policies to revise the existing laws and regulations in order to maximize revenue in this area?

We realize drafting legislation to enact policy changes is not an easy task, but the window of opportunity in this arena may be limited.

While the market is red hot and TCI is still listed as one of the top destination choices, the time to capitalize on the opportunity is now. At this given time, do we really need to relax the laws even more and give investors bigger tax breaks?

Albeit, over the years foreign investors have played an extremely important role in the growth and development of our country and we should be appreciative of that.

Nevertheless, we are at a stage in our development where it’s imperative that we take a closer look at the true overall impact it’s having on the betterment of both the country and communities at large.

When is enough, enough when it comes to selling off government land and generational properties to foreign investors? What our country needs is a more diverse portfolio other then selling off real estate.

Let’s face it, there are alternative foreign investment opportunities that could and should be explored. Areas such as light manufacturing or production like recycling on a larger scale, co-op sustainable fishing partnerships, restoration of our conch farm, call-centers, etc.

Generational property is the primary way for our millennials to build and accumulate wealth over time. So why continue to sell it off for pennies on the dollar without looking at the big picture?

With the changes in demographics and the high number of unskilled laborers in our country, these other types of investment opportunities could offer more employment prospects and social benefits. This will also help to raise the standard of living and allow us to become less reliant on low paying service jobs.

The underlying concern is, with the native population continuing to decline, Baby Boomers are pretty much the only ones remaining with generational properties.

Unlike many wealthy families in other developed countries, most of them will not inherit trust funds.

Therefore, we must preserve our only real asset which is generational land, and educate our children on the true value of our forefathers inheritance.

The reality is, most Turks Islanders are not in a financial position to hang onto undeveloped properties as long as they would like too, especially if they are cash strapped. They are then left in a precarious position when attractive offers are presented to them by realtors.

There is also a rising cost and huge demand for housing, especially in the high tourist areas that are the epicenter of jobs and businesses.

To help mitigate this, in my opinion, what is needed are more government affordable land and housing for the locals with the option to buy.

In addition, without having adequate banking systems in place to offer low cost property loans with affordable mortgage payments, it creates a disadvantage and more opportunities for foreign investors.

As places like Providenciales become over populated or have a shortage of inventory, the migration will move to South, North and eventually to Middle Caicos, creating a higher supply and demand market.

In the very near future, the business landscape as we know it in these Caicos islands will continue to evolve exponentially. Deserted land being sold right now, might not be what locals consider prime real estate, but it will be.

It is my belief, rising property value in these areas will be largely driven because of the recent proposed developments such as, a newly constructed marina, a welcome center and a reopening of the airport in North Caicos.

Over time, properties that were quite cheap to buy, suddenly becomes costly and the resale value will double or triple.  Once again, leaving the locals with limited options and very little transfer of wealth.

In essence, the real estate boom may not be a win, win for all in the long run. So the question remains, are we making sound real estate decisions in the best interest of the next generation?

 

Ed Forbes

POETRY :

Summer In Turks And Caicos Islands.

Summer by the sea and

It’s so beautiful to stop

And see watching the

Children smiling so bright

Having fun in the warm

Summer sunlight feeling the warmth

On my face and Turks And Caicos Islands is just

A beautiful sunny warm place and the

Taste the sweetest fruits and I’m

Watching the butterflies flow

Oh how I love the summer days

Smiling so bright kissing my beautiful wife

And all of the songs we sung where so

Beautiful and bright in the warm

Summer sunlight and it’s truly

Beautiful to see the little birds singing

To me it’s summer time and I’ll remember this summer’s day and all of my memories will never fade away Oh how I love summer time in Turks And Caicos Islands every day.

 

David P Carroll.

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Better Products, Safer Services Targeted Under National Quality Plan

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Government Advances Policy Aimed at Consumer Protection and Higher Business Standards

 

By Deandrea Hamilton

PROVIDENCIALES, Turks and Caicos Islands — Efforts to improve product quality, strengthen consumer protections and raise business standards across the Turks and Caicos Islands are moving into a new phase as government advances implementation of its National Quality Policy.

The Department of Trade, Industry and Fair Competition announced that a team of consultants spent a week in the Turks and Caicos Islands meeting with key public and private sector stakeholders as part of the policy’s implementation process.

Approved by Cabinet in October 2024, the National Quality Policy is designed to establish a national quality infrastructure that supports trade, protects consumers and improves the competitiveness of local businesses.

For consumers, the long-term goal is straightforward: greater confidence that products and services meet accepted standards for quality, safety and reliability.

For businesses, the initiative aims to encourage stronger quality management systems that can improve efficiency, build customer trust and create opportunities for expansion into regional and international markets.

During the May 25 to 29 mission, consultants met with representatives from the National Quality Council, Pelican Energy TCI, the Turks and Caicos Islands Airports Authority, the TCI Government Laboratory, the Turks and Caicos Hotel and Tourism Association and Turks Head Brewery.

According to the Department, the consultations were intended to assess existing quality-related systems, identify gaps and gather recommendations that will help shape the Territory’s national quality infrastructure.

“The policy serves as a strategic framework for establishing a national quality infrastructure in the Turks and Caicos Islands, aimed at improving quality standards, supporting trade, protecting consumers, and enhancing economic competitiveness,” the Department said in a statement.

Officials explained that stakeholder feedback will help determine what systems, standards and programmes are needed to strengthen quality assurance across various sectors of the economy.

The Department said the information gathered will guide the next stage of implementation and help ensure the policy delivers meaningful benefits throughout the Islands.

Among the initiatives expected to emerge from the process are a Quality Certification Programme and a series of educational workshops designed to help businesses understand and adopt quality standards.

A second round of stakeholder consultations is scheduled for June, allowing government and industry representatives to continue discussions and further assess priority areas identified during the initial mission.

Officials say the ultimate objective is to build a culture of quality that benefits consumers, businesses and the wider economy by encouraging higher standards, greater accountability and improved competitiveness.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

 

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240 Migrants Interdicted in TCI Waters; Regiment says Mission Averted Potential Maritime Tragedy

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By Deandrea Hamilton

PROVIDENCIALES, Turks and Caicos Islands — Startling video released by U.S. Customs and Border Protection showing hundreds of suspected Haitian migrants crammed aboard an overloaded vessel has renewed concerns about the worsening migration crisis in the region and the increasing pressure being placed on the Turks and Caicos Islands.

The vessel, carrying 240 irregular migrants, was intercepted in Turks and Caicos waters on the night of May 31, in a joint operation involving the Turks and Caicos Islands Regiment, the Royal Turks and Caicos Islands Police Force, the TCI Border Force, the United States Coast Guard and U.S. Customs and Border Protection Air and Marine Operations.

Earlier reports from U.S. authorities revealed that the vessel was discovered in a dangerously overcrowded condition and was ultimately secured and escorted to shore by local marine officers.

Now, a newly released statement from the Turks and Caicos Islands Regiment sheds additional light on the operation and the risks involved.

According to the Regiment, Patrol Vessel James Fulford interdicted the vessel at approximately 9:33 p.m. within territorial waters before authorities determined the situation was far more serious than a routine migrant interception.

“Upon evaluating the migrant vessel, the Royal Turks and Caicos Islands Police Force immediately upgraded the operation to a critical incident, prioritizing Safety of Life at Sea protocols to avert a maritime disaster,” the statement explained.

The migrants were identified as 191 adult males, 44 adult females, one male minor and four female minors.

All 240 individuals were safely transferred to authorities for processing, health assessments and security screening.

Lieutenant Colonel Ennis Grant, Commanding Officer of the TCI Regiment, praised the coordinated response among local and international agencies.

“This mission underscores the efficacy of our multi-agency partnerships. The rapid transition of this operation from a standard interdiction task to a high-priority Safety of Life at Sea intervention demonstrates the professionalism and readiness of our joint forces. By working in seamless tandem with our U.S. partners, we successfully prevented a potential maritime tragedy.”

The incident highlights the continuing humanitarian and security challenges facing the Turks and Caicos Islands as instability, gang violence and economic hardship continue to drive migration from Haiti.

While much larger nations often dominate regional migration discussions, the latest interdiction demonstrates the outsized role the Turks and Caicos Islands continues to play on the front line of Caribbean migration enforcement.

The Regiment said it remains committed to securing the country’s maritime borders through persistent surveillance and strong inter-agency cooperation.

The interception is among the largest migrant landings recorded in the Turks and Caicos Islands this year and serves as another reminder of the dangerous journeys many Haitians continue to undertake in search of safety and opportunity.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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How Misick Fell Short of The UN’s Worst Corruption Standard

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Judge Cites Kofi Annan, But Finds No Evidence Defendants Caused the Wider Harm Described by the Former UN Chief

 

By Deandrea Hamilton

Turks and Caicos, June 9, 2026 – One week after former Premier Michael Misick, former Cabinet minister McAllister Hanchell and attorney Thomas “Chal” Misick began serving prison sentences in the Turks and Caicos Islands’ landmark corruption case, attention is turning to a significant distinction made by Justice Rajendra Narine during sentencing.

In imposing prison terms on May 29, the judge agreed that corruption is a serious offence capable of causing profound societal harm. Yet he also found that there was no evidence the three convicted men caused the sweeping consequences described in one of the world’s most famous condemnations of corruption.

The quotation came from former United Nations Secretary-General Kofi Annan, who famously wrote:

“Corruption is an insidious plague that has a wide range of corrosive effects on societies. It undermines democracy and the rule of law, leads to violations of human rights, distorts markets, erodes the quality of life and allows organized crime, terrorism and other threats to human security to flourish.”

Annan further observed:

“This evil phenomenon is found in all countries — big and small, rich and poor — but it is in the developing world that its effects are most destructive.”

Justice Narine acknowledged the quotation but drew an important distinction between the broad consequences of corruption described by Annan and the evidence presented during the trial.

“The court agrees that there is no evidence in this case that the offending parties actually caused or contributed to any of the harmful consequences described in the quotation,” Narine said.

The finding did not spare the defendants from prison.

The judge made clear that the offences remained serious enough to warrant immediate custodial sentences.

“This case was about an abuse of public trust for the sake of personal gain,” Narine stated.

“The conduct of the defendants caused a constitutional crisis and reputational harm to the territory.”

He added that the public interest demanded punishment and deterrence.

“The public interest requires that the sentence must reflect society’s abhorrence of the criminal conduct and the sentence should be such that like-minded potential offenders would be deterred from similar conduct.”

Narine also rejected suggestions that the absence of direct victims diminished the seriousness of the offences, noting that corruption often harms institutions and public confidence rather than identifiable individuals.

At the same time, the court accepted several mitigating factors advanced by the defence.

“The court is aware of the age, middle age of the offenders, that the immediate custodial sentences would have a traumatic effect on the families, understanding the emotional distress involved,” Narine said.

He also agreed that rehabilitation was not a major concern.

“The court agrees with the defence counsel that there is a low risk of reoffending and that the objective of rehabilitation is not a significant factor in this case.”

Those considerations, combined with the extraordinary delay in bringing the matter to conclusion and the defendants’ previous good character, contributed to substantial reductions from the starting points the judge initially considered.

Michael Misick ultimately received an effective sentence of four years and 26 days on three bribery convictions. Hanchell was sentenced to three years on two bribery counts, while Chal Misick received four years on four money laundering convictions.

The legal saga, however, is far from over.

All three men remain in custody while awaiting a June 17 hearing on applications for bail pending appeal. In addition, confiscation proceedings — which could determine what assets or funds may be recoverable by the Crown — are still to come.

For now, the court’s message appears clear: while the conduct warranted prison and public condemnation, Justice Narine was not prepared to conclude that the defendants’ actions produced the full range of societal devastation described in Annan’s warning about corruption.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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