Anyone who has invested US$500,000 or more in a home or business for himself and his dependants in the island of Providenciales or West Caicos, or US$250,000 or more in a home or business for himself and his dependants in the island of Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos may apply for a Residence Permit for a period of up to ten (10) years, provided neither he nor any of his dependants intends engaging in any gainful occupation (other than undertaking such activities as are necessary to oversee his investment) and he can maintain himself and his dependants for the duration of his residence in the TCI without engaging in any gainful occupation.

In addition to two recent passport-sized photographs, an application for such a Permit will be accompanied by:

  • Evidence of the applicant’s financial standing;
  • Evidence of the applicant’s good character;
  • Evidence of the applicant’s good health; and
  • An undertaking in writing that the applicant, while resident in TCI, will not engage in any gainful occupation other than undertaking such activities as are necessary to oversee his or her investment.

In addition to a US$150 administrative fee, US$1,500 will be payable for a Residence Permit valid for one year. Where the validity of the Permit is for more than one year, the fee will be payable annually and should the applicant so wish, a one-time fee to cover the entire duration of the Permit may be paid by applying a factor of the number of years for which the Permit has been issued, eg for up to five (5) years US$7,500 and up to ten (10) years US$15,000.

Where an applicant has indicated that his or her spouse or dependent child or children intend residing in the Islands, any Residence Permit granted may be endorsed to authorise the spouse or child or children to reside with the applicant for the duration of the Permit (but will not authorize the spouse or child or children to engage in gainful occupation).

Where a Residence Permit is endorsed in respect of a spouse and/or dependent children, an additional fee of $200 will be payable in respect of each person for whom the endorsement is made. Where the validity of the Permit is for more than one year, the fee is payable annually or alternatively, as a one-time fee based on the validity period as above.

Finally, where any certificate or permit is refused, such fee as was paid in relation to the application other than any stated by the Regulations to be non-refundable will be refunded.

Our affiliated immigration consultancy, Savory & Partners, will be pleased to provide any additional information which may be required and an estimate of its fees for assisting in the submission of an application for a Residence Permit.