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TCI: Savory favors investor residency status, heralds KPMG economic report, says Caicos link is economic lifeline

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#Providenciales, Turks and Caicos Islands, Monday May 21, 2018 – A report by #KPMG is expected to expose exactly what the Turks and Caicos needs to hear about its economy and its economic potential in the Financial Services thanks to a state of the industry assessment which will be completed in a matter of weeks. 

 The subject and advent of the economic report was touted in the third annual #BordierBank(TCI) Investment Conference held May 16-18 2018 at Beaches Resort Villages and Spa in Providenciales.  

 Peter Savory, director of Chartered Trust and Savory & Associates, both in the Turks and Caicos Islands, was among the opening ceremony speakers and said the Turks and Caicos is certainly in a period of transition.

 Mr. Savory cited the shift in the financial services is evidenced in, among other things, the arduous re-registering of every company in the islands in time for an October deadline due to new requirements of a re-booted Companies Ordinance; updated for the first time in 37 years, he said.

But Mr. Savory, in his remarks, largely focused on how to make investing more attractive to multi-millionaires who are dawdling on the fence, instead of taking the plunge.

“…what I think it is going to contain, and if I am right, it is going to say that TCI has very good potential in the area of private trust companies and there is a very interesting aspect I suppose or  feature in there for Trusts to own company shares that I think will have good potential…” Savory whose LinkedIn profile says he is a financial graduate of the University of Auckland added, I believe we have a great future in attracting high net worth individuals here in the Turks and Caicos Islands.”  

Peter Savory believes the Turks and Caicos would be on the winning side if it were to establish a quota of how many investors could attain legal residency, which would or could be tied to the type and value of investment these qualifiers would be prepared to make.

 “I have been told that the Cayman Islands has a quota for residency certificates that they have never met.  Now is it because there is more due diligence, that it is extremely robust or is it that they have just not been successful enough in marketing their residency program.  Whatever the reason, there are great parallels to draw with places like the Cayman Islands…”

Savory said while he is not suggesting citizenship for the wealthy investors, he believes it may help the sector if there was more structure and a plan to sweeten the pot for inward investment to bolster the country’s number two industry.

I think our future lies in trying to attract people where they have the capacity to invest good amounts of money…” Peter Savory explained that he is already having referrals of people who are in the Turks and Caicos, average people who have been extremely successful and who are willing to pump millions into the economy via the financial services if they were given some sort of investor status; he continued, “and it is certainly something that I am actively lobbying the government on.”

Mr. Savory talked about alternative investment and touted an infrastructural addition to link the Caicos Islands.

 “Imagine a road bridge, a bridge connecting the island of Providenciales and #NorthCaicos and how that might change the economic face of the Turks and Caicos Islands if we were to open up North Caicos and #MiddleCaicos, which are joined by causeway an are potentially three times the size of Providenciales; Providenciales itself being twice the land there in Bermuda. Bermuda having a population of 60,000 people.”

Mr. Savory sees a bounty of potential in this infrastructural enhancement, which as been touted for decades but remains undone; an economic  and development dream unrealized.   

“And it could be made to tie in quite nicely with an investment product and with other things such as a permanent residency program to make it a viable alternative.”  

Kenrick Walters, Chief Risk Officer at Bordier Bank TCI, who has seen a draft of the document said of the KPMG report that, “I can’t get ahead of the Premier (who is also finance Minister) in saying what is in that report, but I can tell you that it addresses some of the major concerns that we have faced in the industry for a long time.  Immigration, business licenses, business processes in general; things like dispute resolutions at the courts, all of these issues and all of these areas will be addressed and the Premier has committed to looking at the industry from a holistic standpoint and working with the private sector, with regulators and so on to really change the game.”

The KPMG survey team arrives in the country this week.

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Signage regarding Prohibition of Jet skis in Protected Areas

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South Side Jet-ski Buoy

Providenciales, Tuesday 30 April, 2024 – The Department of Environment and Coastsal Resources (DECR) would like to make all jetski operators, jetski owners, jetski users, watersports operators, tour guides, and the public aware of ‘No jetski’ buoys that have been installed within the Princess Alexandra Land and Sea National Park and Nature Reserve.

Additional buoys will continue to be deployed and are strategically positioned along the perimeter of protected areas, serving as a clear boundary beyond which jet skis are not permitted. All jet ski users are to heed that jet skis are strictly prohibited within all protected areas in the Turks and Caicos Islands, in accordance with the National Park Ordinance (11 of 1975):

Section 3(1) Prohibitions and permitted activities within all National Parks

(g) Jet skis and hovercraft

Section 3(2) Prohibitions and permitted activities within all Nature Reserves

(f) Water skiing, jet skis or hovercraft

Section 3(3) Prohibitions and permitted activities within all Sanctuaries

  • Water skiing, jet skis or hovercraft

Emerald Point Buoy

Section 3(4) Prohibitions and permitted activities within all Areas of Historical Interest

(g) Water skiing, jet skis or hovercraft

A person contravening these regulations commits an offense and is liable on summary conviction to a fine of between $5,000 and $50,000 or a term of imprisonment, or both, as per Section 13 of the National Park Ordinance.

The accompanying map delineates the protected areas (highlighted in red) and indicates the placement of the buoys. It should be emphasized that the regions shaded in red signify areas where jet skis are not prohibited.

Should you require further clarity, please contact the DECR at (649)338-4170 or email environment@gov.tc

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Government

RECENT CHARGES AGAINST US NATIONALS FOR POSSESSION OF AMMUNITION OFFENCES

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The Turks and Caicos Islands Government cannot comment on ongoing legal cases before the courts but confirms the following four (4) US nationals have been charged for possession of ammunition offences against the Firearms Ordinance (as amended).

  • MICHAEL LEE EVANS, 72, of Texas, pled guilty to possession of seven (7) 9mm rounds of ammunition. Appeared before the court on Wednesday, 24th April 2024, via video conference link. Currently on bail, with sentencing hearing adjourned to June 18th, 2024.
  • BRYAN HAGERICH, Pennsylvania, pled guilty to possession of twenty rounds of ammunition  (rifle rounds). Currently on bail. Scheduled to reappear in court on May 3rd, 2024.
  • TYLER SCOTT WENRICH, 31, of Virginia, is currently remanded at the Department of Corrections and Rehabilitation (Grand Turk). He is charged with possession of two (2) 9mm rounds. He has not applied for bail.
  • RYAN TYLER WATSON, 40, of Oklahoma, currently on bail, charged with possession of four (4) rounds of ammunition. Appeared in court on April 24th, 2024. The matter was adjourned to June 7th, 2024

Persons in the Turks and Caicos Islands do not have a constitutional right to carry firearms. The Turks and Caicos Islands welcomes all visitors but reminds travellers that the importation of firearms, ammunition (including stray bullets), and other weapons is strictly forbidden unless licence to do so has been issued by the Commissioner of Police.

The Turks and Caicos Islands have clear laws against the possession of firearms and or ammunition and strict penalties in order to serve and protect the community. Firearm and or ammunition offences carry a mandatory minimum custodial sentence of twelve years plus a fine. An Attorney General’s Reference to the Court of Appeal certified that where a court finds there are exceptional circumstances, the sentencing judge has discretion to impose a custodial sentence (less than the twelve years) and a fine that are fair and just in the circumstances of each case. The Turks and Caicos Islands is a British Overseas Territory with a common law legal system.

Travellers are strongly advised to search their luggage before they travel to the Turks and Caicos Islands to ensure they do not bring in forbidden items inadvertently. The Turks and Caicos Islands reserves the right to enforce its legislation and all visitors must follow its law enforcement procedures.

The Transportation Security Administration screening in the United States may not identify ammunition in a traveller’s baggage; it is the traveller’s responsibility to ensure their baggage is free of ammunition and/or firearms. Permission from an airline carrier does not constitute permission to bring firearms or ammunition into the Turks and Caicos Islands and will result in arrest.

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Health

Increased cases of Chicken Pox Prompts Ministry of Health and Human Services Response

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PRESS RELEASE

MINISTRY OF HEALTH & HUMAN SERVICES

Providenciales, Turks and Caicos Islands, 25 April 2024 – The Ministry of Health and Human Services is issuing a public advisory regarding a recent increase in chicken pox cases, particularly within school communities in the regions of Grand Turk and Providenciales. The Ministry is actively monitoring the situation and is working closely with affected schools to provide support and education aimed at preventing further spread of the virus.

Chicken pox, caused by the varicella-zoster virus, is a highly contagious infection characterized by a distinctive rash of itchy red spots or blisters. Transmission occurs via droplets, aerosols, or direct contact with respiratory secretions, and almost always produces clinical disease in susceptible individuals. While mostly a mild disorder in childhood, varicella tends to be more severe in adults. It may be fatal, especially in neonates and in immunocompromised persons. The Ministry urges parents, teachers, and the general public to remain vigilant and familiarize themselves with the signs and symptoms of chicken pox, which may include:

  • Rash: The primary symptom of chicken pox is a rash that typically begins as small red spots, which then develop into fluid-filled blisters over several days.
  • Fever: Children with chicken pox may experience a mild to moderate fever, often preceding the appearance of the rash.
  • Fatigue: Some individuals may feel generally unwell, tired, or lethargic.
  • Loss of Appetite: A decreased desire to eat may accompany other symptoms of chicken pox.

Management aims to relieve symptoms and reduce the risk of complications and may include:

  • drinking plenty of fluid (try popsicles if your child is not drinking) to avoid dehydration.
  • taking paracetamol to help with pain and discomfort.
  • cut your child’s fingernails and put socks on their hands at night to stop them scratching.
  • use cooling creams or gels e.g. Calamine lotion
  • speak to your health care provider about using antihistamine medicine to help itching.
  • bathe in cool water and pat the skin dry (do not rub)
  • dress in loose clothes.

 

  • do not use ibuprofen unless advised to do so by a doctor, as it may cause serious skin infections.
  • do not give aspirin to children under 16.
  • do not go near newborn babies, or anyone who is pregnant or has a weakened immune system, as chickenpox can be dangerous for them.
  • do not scratch the spots, as scratching can cause scarring.

To mitigate the spread of chicken pox within schools and communities, the Ministry emphasizes the importance of practicing good hygiene habits, including frequent handwashing with soap and water, covering coughs and sneezes with a tissue or elbow, and avoiding close contact with infected individuals.

In the event that a child exhibits symptoms of chicken pox, parents and caregivers are advised to keep them at home and seek medical attention promptly. A sick leave for a period of 14 days is usually given. After the 14 day sick leave period, the individual must return to the physician or the public health nurse at one of the primary care clinics to obtain a fit for work or school certificate allowing them re-entry back into school or work. Anyone returning earlier than this time or without this certificate should not be allowed in school so as to prevent spread to other children. Additionally, it is crucial to inform school authorities to prevent further transmission among classmates and staff.

The Ministry of Health and Human Services is committed to ensuring the health and well-being of all citizens, and will continue to work diligently to address this current situation. For further information and guidance on chicken pox prevention and management, please visit Turks and Caicos Islands Ministry of Health and Human Services Facebook page at https://www.facebook.com/tciministryofhealth/.

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