TCI News
Letter To The Editor: Protecting Generational Wealth!
#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.
TCI News
Turks and Caicos Islands Reaffirms Status as Premier Beach and Romance Destination at World Travel Awards
Turks and Caicos, September 21, 2025 – On Sunday, September 21st, 2025, the United States Coast Guard Southeast (USCG), working
in coordination with the Royal Turks and Caicos Islands Police Force (RT&CIPF) Marine Branch, the TCI Regiment, and the TCI Border Force, intercepted a vessel carrying 103 migrants bound for Providenciales.
The suspicious vessel, first tracked by the USCG, was stopped at sea and later secured by the Sea Guardian vessel, which towed it safely to South Dock Marina. Upon arrival, the migrants were disembarked and handed over to the TCI Border Force for processing.
A breakdown of those on board confirmed:
- 75 males (including two minors)
- 28 females (including two minors)
This interception marks the 18th such operation in 2025, bringing the total number of migrants detained this year to 1,510. The RT&CIPF thanks the USCG and local agencies for their close cooperation, noting that this successful outcome demonstrates the effectiveness of layered security measures protecting the Turks and Caicos Islands. The Force reminds the public that illegal migration is dangerous and life-threatening, and violations of the law will not be tolerated.
Anyone with information on illegal migration is urged to contact the nearest police station, call 911, the Serious Crime Unit at 231-1842, or report anonymously through Crime Stoppers at 1-800-8477 or via the P3 app.
Photos Courtesy: Turks and Caicos Islands Border Force
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