1 Oct 2013

TCI REINTRODUCES INVESTMENT-BASED PERMANENT RESIDENCY- EXCITING NEW INWARD INVESTMENT SCHEME

The Turks and Caicos Islands (TCI) has just enacted a revamped investor residency programme, entitling successful applicants to a permanent residence certificate (PRC). Qualifying criteria The qualifying criteria are:- Villas a. Investment of not less than $300,000 in actual construction of a new home, or in renovation of a distressed property as a home for the applicant and his or her dependants, on the islands of Grand Turk, Salt Cay, South Caicos, Middle Caicos or …

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23 Aug 2013

MISICK & STANBROOK SUCCESSFULLY DEFEND UNJUST ENRICHMENT CASE FOR AKITA HOLDINGS LTD

In proceedings brought by the Attorney General of the TCI, Ariel Misick Q.C. appeared for Akita Holdings Ltd in front of Justice Margaret Ramsay-Hale in the Supreme Court. The Attorney General claimed that the company was unjustly enriched by benefits it received through a transfer of Crown land obtained at an undervalue or that it was otherwise in knowing receipt of the land which was transferred in breach of fiduciary duty. Akita Holdings Ltd defended …

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20 Aug 2013

MISICK & STANBROOK CONGRATULATES TAJUANA EWING ON COMPLETING THE ICT COURSE

Tajuana Ewing, the firm’s chief compliance officer, and MLRO have recently undertaken a Compliance Awareness course accredited by the International Compliance Association. The course has given Tajuana training and knowledge of how best to manage and mitigate compliance risk at the firm. She will be utilizing these skills and the information gained to provide the firm with effective training and education in respect of minimizing risk and adhering to best compliance practice, policies and procedures. …

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22 Jul 2013

CHAMBERS & PARTNERS RANKS MISICK & STANBROOK IN HIGHEST TIER

The well-known legal directory for law firms around the world, Chambers & Partners, has ranked Misick & Stanbrook in Band 1 (the top tier) for General Business Law in the Turks and Caicos Islands. They also highly recommend Ariel Misick QC, who founded the firm. The firm takes pride in this global recognition and continues striving for excellence within the jurisdiction.

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22 Jul 2013

OWEN FOLEY IS APPOINTED TO THE CARIBBEAN REGIONAL COUNCIL OF WORLD SERVICES GROUP

Misick & Stanbrook’s corporate and commercial partner, Owen Foley, has recently been appointed to the Caribbean Regional Council of World Services Group. World Services Group is a global organization of member firms across 115 countries throughout the world. It is a leading network of independent elite professional services firms and companies. Misick & Stanbrook has been a member since 2005. For more information please go to the World Services Group website here

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8 Jul 2013

FILM PRODUCTION IN TURKS AND CAICOS (TCI)

The recent filming of another major motion picture in Turks and Caicos has led to some interesting discussions concerning the desirability of TCI as a film production location. TCI has a warm tropical climate with cooling trade winds during most of the year. Magnificent well lit settings are the order of the day together with convenient one-hour flight access from Miami. All local production crews and talent are non-union and negotiable and there are many …

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28 Jun 2013

TCI COURT SYSTEM AND STRUCTURE

The Turks and Caicos Islands is a British Overseas Territory and a common law jurisdiction which is modeled on the English legal system. It has a written constitution. The judicial courts are based in the country’s capital Grand Turk and in Providenciales.

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27 Jun 2013

FILM INDUSTRY COMES TO THE TCI

Earlier this month, the Turks & Caicos Islands became a movie set for the filming of part two of British director David Hare’s “The Worricker Trilogy”. The second of three movies is appropriately working titled “Turks & Caicos” and stars a host of actors including Bill Nighy, Helena Bonham Carter, Ralph Fiennes, Christopher Walken, Judy Davis, Winona Ryder, and Rupert Graves. It was an opportunity for the local TCI residents to get involved as extras as well as great publicity for the Islands, fittingly …

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6 Jun 2013

Registration of Non-Regulated Financial Businesses

TCI’s anti-money laundering (AML) regulations were extended in 2010 to certain classes of non-regulated financial business (NRFBs). The categories concerned include:- A person who by way of business provides accountancy or audit services. A person who by way of business acts as a real estate agent. An independent legal professional. A high-value dealer (someone trading in goods, precious metals or precious stones when he receives in respect of any transaction a payment in cash of …

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4 Jun 2013

IMMINENT INCREASE IN STAMP DUTY ON TCI LAND TRANSACTIONS

In the clearest sign yet that some buoyancy has returned to the TCI real estate market, the TCI Government has announced changes to TCI’s stamp duty regime. With effect from 1st July 2013:- The previous discount of 10% for payment of stamp duty in a lump sum within 30 days of the date of the instrument concerned will be removed; The rate of stamp duty on TCI land transactions will increase, with the new rates …

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