Statement from Inland Revenue Department on Business Licenses for Landlords  

Providenciales, Turks and Caicos Islands, 07 September 2023 – The Turks and Caicos Islands Inland Revenue Department is mandated to register all businesses in accordance with section 3 of the Business Licensing Ordinance (“Ordinance”). For the avoidance of doubt, section 3(1) Ordinance states, “Subject to this Ordinance, no person shall carry on any business in or from within the Islands unless he holds a current license issued under this Ordinance authorizing him to carry on that business”. Rental of both short and long-term accommodation units is a business activity captured under the Ordinance. The business license fee schedule highlights the apartment rental fee of $20 per unit per year.

Further, any lease over two (2) years should be registered at the Land Registry in accordance with the Registered Land Ordinance. Upon registration, a Leasehold register is created with details of the lease (the duration of the lease, the start date, and the rental amount), including the names of the Lessor and Lessee. Persons and/or entities who are registered Lessees can apply and pay for a certified copy of the Leasehold Register to show proof of the registration of their lease. Certified copies of the said leasehold registers are signed solely by the Registrar, Deputy Registrar and Assistant Registrar and deemed to be a true copy of the Leasehold register and a reflection of what is on record at the Land Registry. This certified copy of the leasehold Register is presented to the Business License Department within the Inland Revenue Department upon application to show proof of ownership.

The Inland Revenue Department would like to advise the public that this is a reminder as the relevant provision in the Ordinance has been enacted since 2015.