Want to know why and how the former wealthy Dupont Nemours and Roosevelt families were able to purchase 4,000 acres of waterfront property on Provindentcials Island in the duty-free crown colony (or “Overseas Territory”) of the Turks Islands and Caicos for 1 one hundred year acre?
This 4,000 acre sale (now a marina and resort town, with an airport for jumbo jets (the $ 50,000,000 airport was donated by the UK government) dwindled in the 1970s, not the 1870s! !?!?
Source: Government of Turks & Caicos 3 full page advertisement in Investor’s Daily (1985).
Was this the most profitable real estate investment of the 20th century? A quarter acre lot in the gated community of Sandyport here in Nassau, Bahamas sells for approximately $ 260,000 today. Half-acre canal lots on Lyford Cay sell for about a million dollars.
Do the math. With an initial investment of just $ 40, the 4,000-acre property could be worth nearly $ 4 BILLION today.
YOU ARE THE JUDGE … Is the use of the world’s tax havens a blessing or a detriment? Before you answer, take a look at some of the IRS loopholes in our “Tax Code,” which are discovered below for you to see, and which are buried within the tax law for taxpayers. There is a very important gap for the non-resident alien that you should not overlook!
Turks and Caicos Islands
Located 575 miles southeast of Miami, Florida, in the warm aquamarine waters of the Caribbean Sea, the Turks and Caicos Islands (“TCI”) offer an unmatched quality of life with all the necessary ingredients: a strong and stable economy and government. , a central location, convenient international air transportation, modern healthcare facilities, low crime rate, friendly people, and beautiful beaches. TCI is also a well-recognized and respected offshore financial center offering a wide range of well-regulated financial services, from private banking to company and trust formation and management.
The Turks and Caicos Islands are an archipelago of more than 40 islands that form the southeastern tip of the Bahamas chain. There are two main groups, each surrounded by a continuous coral reef. Caicos is the largest group and includes Providenciales, Middle (or Greater) Caicos, and the islands of North, South, East, and West Caicos, in addition to numerous small keys, some of which are inhabited. The group of Turks, separated by a 35 km wide (22 miles) water channel, is made up of Grand Turk, Salt Cay, and several small uninhabited cays.
Each of the islands is a vacationer’s paradise with some of the best diving in the world just minutes offshore, particularly on the Grand Turk, Salt Cay and South Caicos islands. The islands benefit from an ideal tropical climate (an average annual temperature of 80 F degrees) and endless miles of sandy beaches.
In recent years, TCI has been one of the fastest growing economies in the Caribbean and is rapidly becoming a premier diving and tourist destination, where visitors and residents alike can enjoy a unique quality of life. .
The islands were part of the Jamaican colony of the United Kingdom until 1962, when they assumed the status of a separate crown colony after the independence of Jamaica. The Governor of The Bahamas oversaw affairs from 1965 to 1973. With the independence of the Bahamas, the islands received an independent governor in 1973. Although independence was agreed for 1982, the policy was reversed and the islands remain a British territory of overseas.