Rental Program Enhances Caribbean Real Estate Ownership
Caribbean real estate ownership with proven income opportunity
As a luxury beachfront condominium resort on Providenciales’ most beautiful beach, Windsong’s rental program can be a perennial source of income for Caribbean real estate owners/investors while they are away — sailing the Caribbean seas for weeks at a time, traveling abroad, or back at home. Caribbean real estate investors can own piece of paradise and peace of mind too. With a proven track record of success, Windsong’s effective rental program helps to offset the expenses of owning luxury oceanfront Caribbean real estate. Most importantly, it provides peace of mind for owners knowing that Windsong is managed by a capable team led by a development partner with two decades of hospitality management experience. To learn more about owning Caribbean real estate, Windsong’s successful rental income program, and how effective it can be to offset the expenses of owning luxury Turks and Caicos condos, call 1-800-WINDSONG (946-3766), 649-333-7700, or email us at firstname.lastname@example.org.
Real Estate Transaction Fees: Legal Fees: Each party is normally responsible for its own legal fees; 1% of the sale price is a good budget number. There is no title insurance program so the attorney researches title as part of the fee.
Incorporation Fees: Many investors prefer to hold real estate anonymously in a Turks & Caicos Islands Corporation or Trust. Corporate set up fees are about $2,500, then $1,200 annually. This includes administration, government fees, nominee shareholders, corporate secretary, annual filing and preparation of minutes, as required by law.
Mortgages: Terms and rates vary by applicant. Banks will lend 50% to 75% of property value for up to 20 year terms. Current rates are around 7%. Private mortgage money is also available.
Stamp Duty: It is customary for the Buyer to pay stamp duty.
Effective July 1, 2013 The Turks and Caicos Islands implemented a stamp duty structure for property sales in Providenciales. The rate structure is shown below.
Purchase Price Duty Single Pay
Less than 25,000 Exempt, $25,000 - $250,000 6.5%, $250,001 - $500,000 8.0%, 500,000 or greater 10.0%.
Stamp Duty does not apply to personal property.
Toll Free (US/Canada) 800-WINDSONG (946-3766)
Real Estate Sales email@example.com