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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21 May 2013

TURKS AND CAICOS ISLANDS STAMP DUTY & TITLE REGISTRATION RESTRICTIONS

Attorney General of the Turks and Caicos Islands and another (Appellants) -v- Ross Richardson (as Trustee in the bankruptcy of Yellowstone Club World LLC) (Respondent) In a recent case before the Privy Council in London, Ariel Misick O.B.E, Q.C. appeared on behalf of the Respondent in an appeal by the Turks and Caicos Islands Attorney General. The case was heard before Lord Hope, Lord Kerr, Lord Reed, Lord Carnwath, and Sir John Chadwich. The TCI …

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10 Mar 2013

MISICK & STANBROOK CONGRATULATES KISHANTI HALL ON BEING CALLED TO THE TCI BAR

Kishanti Hall is the newest member of the Misick & Stanbrook team of attorneys. Having worked closely under the guidance of Ariel Misick QC to complete her pupilage, she was called to the Turks and Caicos Bar before Judge Margaret Ramsay-Hale acting as Chief Justice in February 2013. Kishanti was born in the Bahamas and completed an undergraduate degree in Mass Communications and Journalis/blog/misick-stanbrook…l-called-tci-bar/m at Clark Atlanta University in Georgia in 2006. Following this, she …

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26 Feb 2013

TURKS & CAICOS INTRODUCES ENHANCED ANTI-MONEY LAUNDERING PROVISIONS.

Article by Owen Foley. Click here to download a copy The Turks & Caicos Islands (TCI) has recently introduced a raft of legislation to enhance its existing comprehensive anti-money laundering regime. The provisions largely follow the “Review of Financial Regulation in the Caribbean Overseas Territories and Bermuda” recently conducted for the British Government by KPMG (generally known as “the KPMG Report”). Since passage of the legislation, the Paris-based Financial Action Task Force (FATF) has published its updated list of …

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25 Feb 2013

TCI INTRODUCES REGULATION OF INVESTMENT DEALERS

INTRODUCTION The Turks & Caicos Islands (“TCI”) has recently introduced a law regulating investment dealers, The Investment Dealers Ordinance 2001. The Ordinance came into effect on 22nd May 2001. INVESTMENT DEALERS An investment dealer means a person who trades on behalf of customers, acts as a fund manager, solicits subscriptions for new issues of investments, and offers advice about investments by way of a business. Investments include commodities trading, corporate bonds, equities, government and local …

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25 Feb 2013

TCI TRANSFER DUTY REDUCTION

During the years of the recent property and development boom in the Turks and Caicos Islands (TCI), stamp duty on the real estate transactions became a substantial contributor to Government coffers. All real estate transactions in TCI are subject to stamp duty at varying rates depending on the size of the transaction and on the island on which the real estate is situate.    In most cases, stamp duty is charged at the rate of 9.75% of the consideration …

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