Ministry of Finance, Investment & Trade Introduces Real Estate Licences

Providenciales, Turks and Caicos Islands – Thursday, 7th August 2025: The Ministry of Finance (MOF) wishes to advise the business community and the general public, that the Real Estate (Brokers and Salesmen) Licensing Regulations 2025 came into effect February 26th 2025.

All persons trading in Real Estate are now required to be licensed as a Broker or Salesman under the Real Estate (Brokers & Salesmen) Licensing Ordinance 2004(the Ordinance).

Realtors may apply for a Brokerage Licences as an Individual, Partnership or Company.  Sections 6 and 7 of the Ordinance mandates that Brokerage Licences will only be issued to 100% Turks & Caicos Islander owned businesses.  Section 7(5) of the Ordinance grants grandfathering provisions for Business Licence Holders of a Real Estate Business where the majority of the business is owned by Turks & Caicos Islanders.

All Associates, Partners and Employees of Brokers licences under the Ordinance or an Officer, Member or Employee who is a Turks & Caicos Islander are eligible to obtain a Real Estate Salesman Licence under the Ordinance.

All Realtors may continue to operate at Brokers & Salesmen but are required to submit applications for Brokerage and Salesman Licences by February 27th 2026.  Section 17 of Real Estate (Brokers & Salesmen) Licensing (Amendment) Ordinance 2025 makes transitional provisions as for Real Estate businesses established after 2004 that are not 100% owned by a Turks & Caicos Islander may continue to operate up to February 27th 2026 but must be 100% transition to 100% Turks & Caicos Islander owned to submit applications for Brokerage or Salesmen licence under the Ordinance.

Licensing as an Individual Broker, Partnership or Company Broker

Application must be made to the Permanent Secretary of Finance (PS Finance) or her delegate in the prescribed form (attached hereto) and accompanied by:

• Evidence showing to the satisfaction of the PS Finance or her delegate that the business is 100% Turks & Caicos Islander owned;
• Evidence showing that the applicant maintains an office in the islands from which it conducts its real estate business;
• Name of one individual who shall act as its representative; and
• The prescribed $2,000 Fee

Licensing of Salesman

The application requirements to be licensed as a Salesman are almost identical to those required for a Brokerage Licence but additionally requires:

• A recommendation of the applicant, made by or on behalf of a broker licensed under the Ordinance
• Proof of employment by a Licensed Broker and
• The prescribed $100 Fee

All Brokerage licences will now expire annually on 1st of April and Salesmen licences will now expire every 3rd year on 1st of April.  Late Renewals will become subject to a penalty fee of 10% per month.

For more information, please visit the IRD’s website or our offices in Grand Turk, Providenciales, or the District Commissioner’s Offices in the Family Islands.