About Buying Property
in the Turks & Caicos Islands

Stamp Duty

The Buyer normally pays stamp Duty, or transfer tax, for Sales. For sales under $25,000 Stamp Duty does not apply.

For sale between $25,000 and $500,000 - 4% stamp duty
(3,6% one payment, 1% four payments).

For sales above $500,000 - $1,5.000.000 - 6% stamp duty
(5,4% one payment, 1,5% four payments)

For sales $1,5 - 3 million - 8% stamp duty
(7,2% one payment, 2% four payments)

For sales more than $3 Million - 10% stamp duty
(9% - one payment, 2.5% four payments)

The Government reserves the right to assess a value higher than the sale price for purpose of Stamp Duty, if it feels a property sells below market value. There is also Stamp Duty of 1% of the sum secured by a mortgage.

Legal Fees

Each party is normally responsible for its own legal fees, and can range from 1 to 2% of sale price or hourly rate