Permanent Residency based on Business or Real Estate Investment

Hello All!

I am a Canadian interested in establishing permanent residency in TCI. I understand that there are two options available - one based on real estate investment, and another based on business investment.

A lawyer with Dempsey and Company has provided me the information below:

Residences
A person must make either:

An investment of not less than US$1,000,000.00 in actual construction of a new home or renovation of a distressed property as a home for the applicant and his or her dependents on any island other than Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos, or

An investment of not less than US$300,000.00 in actual construction of a new home, or in renovation of a distressed property as a home for the applicant and his or her dependents, on the islands of Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos.

Businesses and Enterprises

An investment of not less than US$1,500,000.00 in cash in a business or enterprise in any island other than Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos which business generates employment for persons in TCI of which not less than 60% are TCI nationals or permanent residents.

An investment of not less than US$750,000.00 in cash in a business or enterprise in Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos which business generates employment for persons in TCI of which not less than 60% are TCI nationals or permanent residents; or

Those PRCs issued in either category (i) or (ii) will not be issued with the right to work endorsed thereon. Those PRCs issued in either category (iii) or (iv) will be issued with the right to work in the business or enterprise concerned.




Any body have experience establishing permanent residency in TCI based on investment? How easy was it to establish Permanent Residency and did it come with right to work? Looking forward to hearing from you!