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Ministerial Statement by Finance Minister E. Jay Saunders on Home Owner’s Policy

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Delivered in the House of Assembly on March 17, 2022

 

#TurksandCaicos, March 24, 2022 – Mr. Speaker, on the 16th February 2022, Cabinet approved amendments to the First Time Home Owner’s Policy, aimed at assisting in promoting homeownership for Turks & Caicos Islands Status Holders and BOTCs, with commencement set for the 1st April 2022.

Mr. Speaker, our Government’s First Time Home Owner’s Policy allows first time property buyers, and persons renovating their homes after 10 years, to receive $50,000 in Stamp Duty and Import Duty concessions.

Now Mr. Speaker, this policy was first rolled out in 2019 by the then Government of the day, and unfortunately, but not surprisingly, it had a low uptake. Specifically, Mr. Speaker, during the period April 2019 to January 2022, the Ministry of Finance received approximately 100 applications, with 80 being approved for concessions totaling $570,000.

The breakdown of the concessions awarded are:

  • 31 Stamp Duty Waivers for a total of $441,035, and
  • 49 Import Duty Waivers for a total of $129,897.

Mr. Speaker, the previous Government had this policy in place for 34 months, and during that time less than 3 persons per month benefitted from it, with the average payout being approximately $17,000.

Mr. Speaker, our enhancements remove many, if not all, of the nuisances and obstacles that made the old policy unattractive. In addition to increasing the concession amount from $20,000 to $50,000, our Government also:

  1. Allows concessions to be applied to both Stamp Duty and Import Duties rather than one or the other, and
  2. Removed the restrictions limiting concessions to land purchases of $150,000 or less, and land + building purchases of $500,000 or less.

Mr. Speaker, imagine that. The old policy actually had restrictions that limited the concessions to land purchases of $150,000 or less, and land + building purchases of $500,000 or less. Mr. Speaker, as the previous Government crafted and/or signed off on this policy, this is tantamount to them intentionally punishing Turks & Caicos Islanders for wanting to own nice property. Mr. Speaker, the old policy basically said to Turks & Caicos Islanders (particularly Turks & Caicos Islanders) that if they could afford to buy land worth more than $150,000 or land + a building worth more than $500,000, that the Government didn’t think that they deserved the concession.

Mr. Speaker, our Government want Turks & Caicos Islanders to Live Best Lives, and that’s why we took a Red Pen to First Time Home Owner’s Policy. When we got to the restrictions that punished our people for wanting to own nice property, we told the Technocrats to “take it out!!!”. As a matter of fact, Mr. Speaker, I didn’t even wait for them to do it, I took it out myself.

Mr. Speaker, our desire to empower Turks & Caicos Islanders through property ownership didn’t stop at the First Time Home Owner’s Policy. We went further Mr. Speaker. Our Government also increased the Zero-Rated transactions under the Stamp Duty Ordinance from $25,000.00 to $100,000.00 for Turks & Caicos Islanders. Going forward, Turks & Caicos Islanders who purchase property worth $100,000.00 or less will pay zero (0) Stamp Duty. And those who purchase property for greater than that amount on: the islands of Grand Turk, Salt Cay, South Caicos, North Caicos and Middle Caicos, will pay a Stamp duty rate of just 4 per cent, and Providenciales and elsewhere in the Turks and Caicos Islands, just 6 per cent.

Mr. Speaker, with these policies, our Government just made private land as affordable for Turks & Caicos Islanders as Crown land. Mr. Speaker, we said that we will have people living their best lives, and that’s exactly what we’re doing.

Bahamas News

Mother’s Pride Headlines Bahamian Takeover at Sixers-Heat Clash in Miami

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The Bahamas, March 30, 2026 – The voice of a proud mother captured the spirit of a nation Monday night, as Bendra Rolle shared heartfelt reflections on the overwhelming Bahamian support for her son, VJ Edgecombe, during the Philadelphia 76ers matchup against the Miami Heat in Miami.

“The patriotic support and scenery at my son, VJ Edgecombe’s NBA game… was overwhelming,” Rolle said in a statement issued following the game. “The arena in Miami was lit. Bimini and the Bahamas showed up and showed out.”

Her words come amid what has already been widely described as a remarkable showing of national pride, with Bahamians traveling in large numbers to South Florida to witness the young guard’s continued rise. For Rolle, however, the moment extended far beyond basketball.

“Beyond VJ’s basketball talents, I’m so moved by his magnetic personality and personal journey to inspire and excite an entire nation—our beloved Bahamas,” she said. “I thank God for VJ’s humility and for his hunger for greatness. He never forgets how far God has brought us.”

While the Sixers did not secure the win on the night, Edgecombe delivered a solid individual performance, finishing with 13 points and five assists. He made an early impact on the game, showing confidence and poise before foul trouble disrupted his rhythm, but still managed to leave his mark in meaningful minutes.

The game itself evolved into a cultural showcase, with Bahamian flags waving throughout the arena and chants ringing out in support of Edgecombe. Much of that presence was bolstered by a coordinated travel push from Bahamasair, which helped facilitate fan travel and added to the electric atmosphere in Miami.

Rolle said the emotional weight of the moment was deeply felt by her family, as they witnessed firsthand the unity and pride of the Bahamian people.

“Thanks and love for the tears and overwhelming joy on Monday, Bahamas,” she expressed. “The Bahamian flags were love, loud, and proud. On my own behalf, VJ, and the entire family, I am ever grateful for the indescribable experience.”

Her closing words underscored what many have described as the true victory of the night—not the final score, but the powerful display of national pride and support surrounding one of The Bahamas’ rising stars.

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50 Years of Ministerial Government: Cabinet Moves to Mark Milestone Rooted in 1976 Constitution

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Turks and Caicos, March 30, 2026 – The Turks and Caicos Islands is preparing to mark a major political milestone, with Cabinet approving the establishment of a National Commemorative Committee to celebrate 50 years of ministerial government, a system first introduced under the 1976 Constitution.

The decision, confirmed in the February 10 Post Cabinet statement, signals a year of reflection on a governance model that fundamentally reshaped how the country is run — shifting from direct colonial administration toward locally led political leadership.

That shift was formalized in the Turks and Caicos Islands Constitution Order 1976, which laid the legal foundation for ministerial government and introduced a structured Executive and Legislative system.

At its core, the 1976 Constitution established an Executive Council, bringing together:

  • a Governor,
  • a Chief Minister elected by members of the Legislative Council,
  • and Ministers appointed to assist in governing the Islands.

A Very Different Government Back Then

If today’s Cabinet feels crowded, the 1976 version would have seemed almost unbelievable. There were just three Ministers serving alongside the Chief Minister — a tight, compact leadership team responsible for the affairs of an entire country. No sprawling list of ministries, no long roster of portfolios — just a handful of individuals carrying the weight of governance.

Becoming a Minister wasn’t a direct vote of the people either. You first had to win a seat in the Legislative Council, and from there, the Chief Minister would recommend who should serve. The Governor then made the appointments. In other words, political trust and alignment mattered just as much as public support — and ultimate authority still rested above the local leadership.

And as for job security? There wasn’t much of it. Ministers served without fixed terms and could be removed if they lost their seat, resigned, or if the Governor revoked their appointment. Even the Chief Minister could be ousted through a vote of no confidence. Add to that the basic requirements — being at least 21, a British subject, and meeting residency rules — and it’s clear that ministerial government in 1976 was not only smaller, but far more tightly controlled.

This marked the first time elected representatives were formally given defined roles in the administration of national affairs.

Under the Constitution, the Governor retained overarching authority, but was required in many instances to act on the advice of the Executive Council, particularly in shaping policy and overseeing government operations.

The Chief Minister, meanwhile, was positioned as the central political leader, responsible for directing government business and advising on the appointment of Ministers.

Importantly, the Constitution also allowed for the assignment of responsibilities to Ministers, giving them oversight of specific areas of government — a structure that remains at the heart of today’s Cabinet system.

Section 13 of the Order made clear that Ministers could be assigned responsibility for the administration of departments or government business, embedding accountability and functional governance into the system.

The Legislative Council, established alongside the Executive, provided the law-making body, with elected and appointed members participating in debates, passing legislation, and representing the interests of the Islands.

Together, these provisions created the framework for what is now recognized as ministerial government — a hybrid system balancing local political leadership with constitutional oversight by the Governor.

The explanatory note of the 1976 Order describes it as introducing “new provisions for the Government of the Turks and Caicos Islands,” including the creation of a Legislative Council with elected members and Ministers appointed on the advice of the Chief Minister.

Fifty years on, that structure has evolved through subsequent constitutional changes, but its foundation remains rooted in the 1976 framework.

Cabinet’s decision to establish a commemorative committee suggests that the anniversary will not only celebrate political progress, but also invite reflection on how effectively the system has delivered on its promise of representation, accountability, and governance.

As the Islands approach this Golden Jubilee, attention is likely to turn not only to the achievements of ministerial government, but also to the ongoing question of how the system continues to serve a modern and rapidly developing Turks and Caicos Islands.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

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Government Moves to Amend Destination Management Fee Law

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Turks and Caicos, March 30, 2026 – The Turks and Caicos Islands Government has signaled changes to its tourism funding framework, with Cabinet approving draft amendments to the Destination Management Fee Act 2023.

The decision was confirmed in the Post Cabinet statement following the February 5 meeting, chaired by Governor Dileeni Daniel-Selvaratnam, where members agreed to move forward with revisions to the law governing the collection and administration of the fee.

The Destination Management Fee, introduced in 2023, is applied to travelers entering the country and is embedded within the cost of travel. The charge was designed to support tourism-related development, including marketing, infrastructure, and sustainability initiatives.

At the time of its introduction, the fee was linked to the establishment of a Destination Management and Marketing Organisation (DMMO), which was expected to coordinate tourism strategy and enhance the visitor experience.

However, recent developments have shifted that landscape.

The DMMO has since been discontinued, raising new questions about how funds generated through the fee are being managed and what structure will now guide tourism development efforts.

The Cabinet note does not outline what specific changes are being proposed under the amended legislation.

It also does not indicate whether adjustments will be made to:

  • who pays the fee,
  • how it is collected, or
  • how the revenue is allocated and overseen.

The move to amend the law comes amid broader government efforts to strengthen revenue collection and compliance, including updates provided to Cabinet on the work of the Drag-Net Steering Committee — a multi-agency initiative focused on improving government revenue systems.

The lack of detail surrounding the amendments leaves several key questions unanswered, particularly given the fee’s direct impact on both visitors and residents and its role in supporting the country’s tourism economy.

Any changes to the Act would require further legislative steps, including presentation to the House of Assembly, before taking effect.

For now, the Cabinet’s approval signals that the government is moving to revise a policy that is already in force — but without yet disclosing how those revisions will alter the current system.

As tourism remains the backbone of the Turks and Caicos Islands economy, clarity on the future of the Destination Management Fee — and the framework it supports — is expected to be closely watched in the weeks ahead.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

Photo Credit: TCIAA

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