Connect with us

TCI News

Turks and Caicos Implements New Beneficial Ownership Law in Major Transparency Reform

Published

on

Deandrea Hamilton | Editor

Turks and Caicos, July 4, 2025 – The Turks and Caicos Islands has officially enacted the Beneficial Ownership (Amendment) Regulations 2025, bringing long-awaited changes to the territory’s financial oversight and transparency framework. The new law was published in an extraordinary issue of the Gazette on June 30 and was confirmed as enforceable during the July 1 sitting of Parliament.

This legislation marks a major shift in how the jurisdiction handles information about the individuals who ultimately own or control companies registered in the islands. It is the result of years of international pressure, particularly from the United Kingdom and global financial watchdogs, and aligns TCI with evolving international standards on financial transparency and corporate accountability.

According to a statement released by the Financial Services Commission (FSC) on July 1, the new law underscores the government’s continued commitment to transparency, international cooperation, and the rule of law. The regulations are part of a wider pledge made by the TCI and other British Overseas Territories to enhance access to beneficial ownership data for law enforcement agencies, regulators, and persons with a legitimate interest.

The FSC highlighted that the legislative changes were informed by a period of public consultation, during which stakeholders across the public and private sectors were invited to provide feedback. That input, the Commission noted, was critical in shaping the final structure of the law, which now aims to strike a balance between protecting privacy rights and promoting responsible disclosure.

The new regulations introduce a number of critical provisions, including:

  • Enhanced Access: Beneficial ownership information will be accessible to competent authorities and those with a proven legitimate interest, such as law enforcement, regulatory bodies, and entities involved in investigations.
  • Legal Safeguards: Data protection mechanisms remain in place to ensure the responsible use of sensitive information.
  • Reporting and Verification: Entities registered in the Turks and Caicos are now legally required to disclose accurate beneficial ownership information, subject to verification and penalties for non-compliance.
  • International Cooperation: The framework enables increased collaboration with international partners and regulators, supporting broader efforts to combat money laundering, terrorist financing, and illicit financial flows.

The implementation of this legislation represents the culmination of a process that faced numerous delays and resistance over the years, particularly from sectors concerned about data security and potential impacts on the ease of doing business. Despite these hurdles, the law is now fully in force, requiring businesses and legal entities to ensure compliance or face regulatory consequences.

For the private sector, the immediate focus is on adaptation. Financial service providers, corporate managers, and legal professionals are advising clients to review company structures, reporting protocols, and internal compliance systems in light of the new requirements.

The FSC’s statement also reiterated that the new law is designed not only to meet international benchmarks but to enhance confidence in the Turks and Caicos Islands as a jurisdiction that values integrity, transparency, and the responsible management of corporate entities.

While some industry insiders remain cautious about the impact of the reforms on the financial services sector, others welcome the change as necessary and overdue. The increasing global emphasis on transparency, particularly in offshore financial centres, has made such reforms all but inevitable for jurisdictions seeking to maintain international legitimacy and competitiveness.

The introduction of the Beneficial Ownership (Amendment) Regulations 2025 sends a clear message that the Turks and Caicos is ready to modernize its regulatory environment in step with global norms. As implementation unfolds, the focus will now shift to effective enforcement, practical compliance support, and ongoing dialogue between regulators and the business community to ensure a smooth transition.

TCI News

Ministry of Tourism and Experience Turks and Caicos Extends Condolences to the Family of Missing Tourist

Published

on

Providenciales, Turks and Caicos (July 16th, 2025) — The Ministry of Tourism and Experience Turks and Caicos confirm, with deep sadness, that the body found on July 5th is that of Mr. Brian Tarrence, a visitor from the United States who was reported missing on June 25th.
Mr. Tarrence was vacationing with his wife on Providenciales when he left their accommodations in the early hours of the morning. Extensive efforts were made to locate him, including ground searches, drone surveillance, CCTV analysis, and the involvement of local residents, volunteers, and tourism stakeholders. The body was found following a coordinated search operation led by the Royal Turks and Caicos Islands Police Force.

Authorities have indicated there is no evidence of suspicious circumstances surrounding Mr. Tarrance’s disappearance or death. A full investigation is ongoing, and the appropriate authorities will continue to liaise with Mr. Tarrence’s family.
“We extend our deepest condolences to the family and loved ones of Mr. Tarrence,” said Minister of Tourism, Hon. Zhavargo Jolly. “We are grateful to the Royal Turks and Caicos Islands Police Force and to every individual, volunteer, and organisation who took part in the search. The entire Turks and Caicos community mourns this loss alongside the Tarrance family.”
Mr. Paul Pennicook, Interim CEO Consultant of Experience Turks and Caicos, added: “This is a deeply tragic outcome, and our hearts go out to Mr. Tarrence’s wife and family. We are committed to supporting them in any way we can during this difficult time.”
The Turks and Caicos Islands remains committed to the safety and well-being of all who visit. This incident, while heartbreaking, has shown the strength and compassion of the local community.

Further details will be provided by the Royal Turks and Caicos Islands Police Force as appropriate.

Continue Reading

Health

TCI Hospital CEO Dr. Denise Braithwaite-Tennant Named Finalist for Caribbean Global Award

Published

on

Deandrea Hamilton | Editor

 

Providenciales, Turks and Caicos Islands – July 14, 2025 – InterHealth Canada – Turks and Caicos Islands Hospital is celebrating a major milestone, as its Chief Executive Officer, Dr. Denise Braithwaite-Tennant, has been named a finalist in the Global Visionary Doctor Leader category of the Caribbean Global Awards 2025.

This recognition highlights Dr. Braithwaite-Tennant’s outstanding commitment to advancing healthcare in the Turks and Caicos Islands through transformative leadership, strategic development, and dedication to patient care. Under her guidance, the TCI Hospital has consistently raised its standards, expanded critical services, and improved community wellness outcomes.

“We are excited to share some wonderful news that brings pride to the TCI Hospital,” the institution said in a public announcement. “Dr. Braithwaite-Tennant’s visionary leadership has not only transformed our hospital facilities but has also significantly impacted the broader healthcare landscape in the Turks and Caicos Islands.”

The Caribbean Global Awards celebrate the achievements of professionals of Caribbean heritage who are making significant contributions in healthcare, innovation, and development around the world.                                                                                                                                                                         In the Global Visionary Doctor Leader category, Dr. Braithwaite-Tennant is one of five outstanding nominees. The other finalists represent the United States, Trinidad and Tobago (two nominees), and St. Lucia.

The 2025 edition of the awards will culminate with a black-tie gala on September 27 at the prestigious Cumberland Hotel in London, United Kingdom. The event will bring together leaders, professionals, and dignitaries from across the Caribbean diaspora to recognize excellence and visionary impact across sectors.

Dr. Braithwaite-Tennant’s nomination marks a proud moment not only for the hospital but for the entire Turks and Caicos Islands, positioning the territory alongside global leaders in healthcare innovation.

“We are immensely proud of Dr. Braithwaite-Tennant’s achievements and are honoured to have her at the helm of the TCI Hospital,” the hospital’s statement continued. “This nomination is a testament to her dedication to the people of these islands.”

Supporters across the territory are being encouraged to extend congratulations and follow the awards journey as Dr. Braithwaite-Tennant represents the Turks and Caicos Islands on the global stage.

Continue Reading

TCI News

Rotary Club of Providenciales 2024-2025 Year in Review: Approximately 300 Children Assessed for Eyeglasses.  

Published

on

Some students who received free eyeglasses

Monday, July 7th, 2025 – “It has been an honor and a privilege to serve as President of the Rotary Club of Providenciales over the past year,” -Roma Stubbs. The period was characterized by a dedication to community development, educational support, and environmental responsibility. “As I reflect on the initiatives we carried out, I am proud of what we were able to achieve through collaboration, shared purpose, and a strong sense of civic responsibility,” shared the immediate Past President.

In the spirit of promoting peace and unity, the Rotary Club of Providenciales (RCOP) started the Rotary year by successfully planting two Peace Poles, one in Grace Bay and the other at the Edward Gartland Youth Centre. These Peace Poles—each inscribed with the message “May Peace Prevail on Earth” in English, French, and Spanish—stand as powerful visual symbols of Rotary’s commitment to fostering harmony in our communities.

Education remained a core pillar of the Club’s work. Dictionaries were donated to primary schools in the Turks and Caicos Islands (TCI), ensuring that students had access to essential learning tools. The Club also launched a reading initiative called Read-Rama across several primary schools. This included volunteer-led reading sessions designed to foster a love for reading and support early language development.

To support the development of confident, articulate young leaders, the RCOP contributed funds toward a high school speech competition. This event gave students a platform to express their views on critical social issues and practice public speaking. It was inspiring to see their talent and passion for positive change, and we are proud to have played a role in elevating their voices.

Finally, recognizing the direct link between health and academic success, the Club, in collaboration with Dr. Julian Petrucci from Menzies Optometry and Sailrock, organized free eye exams for primary school children on the Islands of South Caicos, North and Middle Caicos, and Grand Turk. The RCOP conducted nearly 300 eye exams and subsequently donated over 50 pairs of eyeglasses to students diagnosed with visual impairments. Many of these children had been struggling in silence due to undiagnosed issues, and the feedback from families and educators was amazingly positive.                                                                                                                                                                                                                            None of these accomplishments would have been possible without the support of the Club’s dedicated members, volunteers, and community partners. Together, everyone demonstrated the power of collective action and the impact of compassionate leadership.

Immediate Past President Roma Stubbs concluded by stating, “As I conclude my term as President, I am filled with gratitude and optimism. The seeds we planted this year—both literal and metaphorical—will continue to grow, nourished by the ongoing efforts of this incredible Club”. Thank you all for an unforgettable year of service and achievement.

Continue Reading

FIND US ON FACEBOOK

TRENDING